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Binance Isn't Allowed to Be Operating in the UK, Watchdog Warns

On Friday, Japan’s financial regulator warned Binance is operating in that country without permission.

By Kevin Reynolds
Updated Sep 14, 2021, 1:17 p.m. Published Jun 27, 2021, 2:38 a.m. 1 min read
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Binance 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.

  • Citing its own requirements, the FCA said Binance Markets Limited isn't allowed to undertake any regulated activities without prior written approval.
  • Further, the FCA said no other entity in the Binance Group "holds any form of U.K. authorization, registration or license to conduct regulated activity in the U.K."
  • Despite this, it appears Binance is offering U.K. customers products and services via Binance.com, the FCA said.
  • Binance responded in a series of tweets, saying the notice has no direct impact on the services provided on Binance.com and that its relationship with its users hasn't changed.
  • On Friday, Japan’s financial regulator warned Binance is operating in that country without permission.

UPDATED (June 27, 21:46): Adds Binance response.

Read more: Japan’s Financial Services Regulator Issues Binance Warning

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