Binance operates the world’s biggest bitcoin exchange and altcoin crypto exchange in the world by volume. The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any “regulated activity” in the UK. It also issued a consumer warning about Binance.com, advising people to be wary of adverts promising high returns on crypto-asset investments. The US Securities and Exchange Commission (SEC) and Japan’s Financial Services Agency (FSA) had also issued warnings about Binance.
Crypto exchanges allow customers to trade cryptocurrencies with other assets, such as money or other digital currencies. Exchanges may accept credit card payments, wire transfers, or other forms of charge in exchange for cryptocurrencies. The exchanges can send cryptocurrency to a user’s wallet or convert digital currency balances into prepaid cards to withdraw funds from ATMs worldwide. In contrast, other digital currencies are backed by real-world commodities such as gold. The regulation of crypto exchanges differs from country to country.
While Binance is a market leader, there are multiple other crypto exchanges. kandi collection on Binance Alternatives lists accelerators across other popular exchanges such as Robinhood Crypto, Coinbase, Poloniex, Uphold, and Kraken. Do not construe this as financial or legal advice.