Binance Deregisters in UK Amid Regulatory Concerns
Join Our Telegram channel to stay up to date on breaking news coverage Binance Markets Limited (BML), the United Kingdom-based subsidiary of cryptocurrency exchange Binance, has canceled its registration with the Financial Conduct Authority (FCA). The move comes as Binance faces increasing regulatory scrutiny and legal challenges in various jurisdictions. FCA Revokes Authorization The FCA confirmed that BML is no longer authorized to undertake any regulated activity in the UK following the cancellation of its permissions. The regulator stated: “Binance Markets Limited has recently submitted a cancellation request of their FCA permissions which was completed on 30 May 2023 and is reflected on the FCA Register.” The UK financial watchdog added: “ Following the completion of the cancellation of permissions the firm is no longer authorised by the FCA. No other entity in the Binance Group holds any form of UK authorization or registration to conduct re...