A court in London told several crypto exchanges, including Coinbase, Binance, Kraken, and Luno, to send their customers’ information to a local cryptocurrency exchange.

The court thought that the information from the exchanges would help the government find the 10 million dollars that were stolen from a British exchange in 2020. The court order says that all of the above exchanges must give information about their customers.


The court’s decision says that the exchanges have to give customers’ names, bank account numbers, and card information. It’s worth noting that this is the first time in England’s history that the government has been asked to give information about foreign exchange customers. At the same time, the lawsuit doesn’t say which English exchange is being referred to

So that cheaters don’t get scared away, the court doesn’t say what the trading floor is called. At least, that’s what the judge who is involved in the case thinks. No one knows yet if the stolen money from the local exchange can be retrieved.


In September, the UK’s Financial Conduct Authority (FCA) warned that the bankrupt cryptocurrency exchange FTX did not have a license to do business in the country. The FCA made it clear that customers of FTX were not insured. So, the English government won’t pay back investors who lost money during the exchange’s bankruptcy proceedings.

Also, it’s important to note that cryptocurrency companies are leaving the English market bit by bit. There are still no clear and exact rules for how cryptocurrencies should be regulated. Several companies that wanted to be registered have already pulled their applications.

Until the government of England makes this clear, cryptocurrency platforms will continue to leave the country or only offer a small number of services to their customers.

https://altcoin.ng/london-court-ordered-binance-and-others-to-hand-over-customers-data/