Binance Markets Limited shouldn’t be operating in the U.K., the Financial Conduct Authority (FCA) warned Saturday, a day after Japan financial regulator issued a similar notice to the cryptocurrency exchange.
This firm is part of a wider Group (Binance Group). Due to the imposition of requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA.
No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK. The Binance Group appear to be offering UK customers a range of products and services via a website, Binance.com.
Binance is an online exchange where users can trade cryptocurrencies. Binance provides a crypto wallet for its traders, where they can store their electronic funds. The exchange also has supporting programs that help traders make investment decisions. Binance has its own blockchain-based token, Binance Coin (BNB)
