Britain bans Binance Markets in latest cryptocurrency crackdown

Bengaluru | London: Binance Markets Ltd., one of the world’s largest cryptocurrency exchanges, cannot conduct any regulated activity in the UK, Britain’s financial regulator said, and issued a warning to consumers about the platform, which is coming under growing scrutiny globally.

In a notice dated June 25, the Financial Conduct Authority (FCA) said Binance Markets, Binance’s only regulated UK entity, “must not, without the prior written consent of the FCA, carry out any regulated activities…with immediate effect”.