Boris Johnson’s brother Jo has been advising cryptocurrency business Binance as it struggles to launch its exchange in the UK, official records show.Lord Johnson of Marylebone took up a role on the UK advisory board of one of Binance's subsidiaries in September, The Telegraph can disclose.
He resigned last week as pressure grew over the transparency of Binance's finances and amid a deepening crisis in the cryptocurrency sector.
Binance, which is the world's biggest cryptocurrency platform, was blocked by the FCA from launching a UK division over concerns about its transparency. The watchdog has issued three separate warnings about Binance’s activities.
The company is also facing growing scrutiny from US authorities, which are reportedly considering criminal sanctions against the company. Binance has declined to comment on the US investigation.
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