Bitcoin's price was up nearly 5% early Monday morning, Coindesk reported, despite Britain’s financial regulator saying Binance may not conduct any regulated activity. In addition, reports said, it issued a warning to consumers about the platform.

FEDS ACCELERATING CRYPTO WORLD CRACKDOWN

The crypotocurrency hovered near $34,400 overnight per Bitcoin, before breaking the $35,000 plateau around 4 a.m. ET, Coindesk reported.

The Financial Conduct Authority (FCA) filed a notice dated June 25 saying Binance Markets Ltd, Binance's only regulated UK entity, "must not, without the prior written consent of the FCA, carry out any regulated activities… with immediate effect," Reuters reported.

Bitcoin’s price was up nearly 5% early Monday morning, Coindesk reported, despite Britain’s financial regulator saying Binance may not conduct any regulated activity. In addition, reports said, it issued a warning to consumers about the platform. (iStock)

Binance said in a statement that Binance Markets, which it acquired in 2020, was not yet using its regulatory permissions, and that the FCA's move would not impact services offered on its Binance.com website.

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Other crypto assets took a hit as well on Wednesday, with Ethereum reaching a 12-hour high of $2,077, while XRP rose to $0.647, Cardano topping out at $1.35 and while meme-based Dogecoin was lower at $0.25696, according to Coindesk.

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