British boss leaves Binance

Pressure is mounting on Binance worldwide, including in the UK. The head of the UK has now left the crypto exchange.

Binance, the world's largest crypto exchange, has suffered another personnel setback. Johnathan Farnell, the former head of UK, is leaving the company. This is evident from his LinkedIn profile.

He came from brokerage firm eToro in June 2021. Farnell is said to be on good terms with Britain's Financial Conduct Authority (FCA). The latter had at the time restricted futures trading on the crypto exchange.

Since then, founder Changpeng Zhao's company sought dialogue with the authority, sought to obtain a license in the UK, among other things - in vain.

In October 2023, Binance ran into trouble again in the United Kingdom. Following complaints from the US authorities SEC and CFTC, the FCA also took a tougher line against the trading center.

Binance then halted new registrations from UK customers on the platform. Read more here: Binance stops new registrations for UK customers.