A giant cryptocurrency exchange accused of allowing Iran to move billions of dollars is planning a UK comeback years after a ban.

Binance, the world’s largest crypto exchange, is preparing to apply to the Financial Conduct Authority (FCA) for a cryptocurrency licence under new rules coming into force next year.

Winning approval to launch in the UK would mark a stark reversal of fortunes for the company, which has previously been hit by a series of FCA crackdowns hampering its attempts to operate in Britain.

The company has also faced a series of regulatory hurdles overseas and is reportedly being investigated by US authorities over claims it allowed Iran to evade sanctions and transfer billions to finance…