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The UK regulator has banned Binance from operations in the country

The UK regulator has banned Binance from operations in the country

UK Financial Conduct Authority (FCA) forbidden Binance UK to carry out any regulated activity without the prior written approval of the agency.

ON warning for consumers, the regulator noted that Binance Markets Limited is part of the Binance Group.

“No other organization in the Binance Group is permitted, registered or licensed in any way to conduct regulated activities in the UK,” the FCA clarifies.

According to the statement, the company offers services through the Binance website.

In the order, the regulator listed the measures that the company must take at the end of the working day on June 30, 2021:

  • Post a notice of the ban in a prominent place on the website and other communication channels or on social media;
  • remove or, if this is not possible, give instructions to remove all currently running promotions;
  • provide written confirmation of the steps taken.

Also Binance. Markets Limited is obliged to retain in the UK all original UK consumer data or an identical copy. By July 2, 2021, the company must notify the FCA that it is ready to provide information when requested.

We will remember, earlier, the Japan Financial Services Agency (FSA) deliveredloh warning Binance for operating in the country without a license.

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