Binance operates in the UK without permission warns the FCA

The Financial Conduct Authority has issued a report pointing out that Binance Markets Limited is not authorized in the UK to operate a crypto exchange.

Binance operates in the UK without permission warns the FCA

One of the most popular crypto exchanges, Binance probably again forgot about regulatory requirements, this time in the UK.

The UK financial regulator announced this through an official announcement stating that "Binance Markets Limited is not permitted to undertake any regulated activity in the UK."

The FCA emphasizes that this company cannot carry out any of the activities without their prior consent and also that no other entity in the Binance Group holds this authorization.

As far as Binance is concerned, this is not the first time that it has faced the problem of operating illegally in a particular country.

US regulators drew attention to Binance as early as last fall, when the crypto exchange decided to stop providing services to the US population as a result of these allegations. However, this was not enough for the US Commodity Futures Trading Commission, and in March this year, it officially launched an investigation against Binance for the unregistered sale of crypto derivatives to the US population.

Share Tweet Send
You've successfully subscribed to CCnews24
Great! Next, complete checkout for full access to CCnews24
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.