UK bans world’s largest crypto exchange amid global crackdowns

The UK’s financial watchdog has banned Binance from doing any business in the country

Binance has until the evening of June 30 to confirm that it has removed all advertising and financial promotions, according to the Financial Conduct Authority’s register.

The watchdog also says Binance must make clear on its website and social media that it can no longer operate in the UK.

In a recent statement, the FCA said the exchange platform must display a notice in a ‘prominent place’ on its website saying; “Binance Markets Limited is not permitted to undertake any regulated activity in the UK.”

The FCA also says the crypto exchange platform cannot ‘undertake any ‘regulated activities’ without explicit written consent.

Binance Markets “does not offer any products or services via the Binance.com website,” Binance said on Twitter. “The Binance Group acquired BML May 2020 and has not yet launched its U.K. business or used its FCA regulatory permissions.”