Binance cryptocurrency volume climbs in Q3 despite regulatory pressures - Reuters

Trading volume on Binance's cryptocurrency exchange surged in Q3 2021 even as regulators around the world ratchet up pressure on crypto activities. Binance's spot cryptocurrency trading volume of $789B jumped from $454B in July, keeping its position as the world's largest digital asset platform, Reuters reports, citing data from U.K. research firm CryptoCompare. Derivatives volume increased almost 25% to $1.7T, according to the data. In recent months, regulators in areas including Germany, the U.K., Hong Kong, and Japan have warned consumers that Binance isn't licensed to operate in their jurisdictions. Binance, meanwhile, has been bolstering its anti-money laundering measures and trimmed its product offerings. It has also made some key hires in its regulation and compliance functions. For example, in August Binance said it would expand its Know-Your-Customer requirements and in September hired Aron Akbiyikian to head its Audits and Investigations department. In June, the company was banned from operating in the