Financial Conduct Authority (FCA), has just announced that, at Binance’s request, it has cancelled several permissions given to the UK arm of the cryptocurrency exchange. As a result, Binance is no longer authorised to offer controlled services in the country.
Binance Markets Limited had several permissions from the Financial Conduct Authority (FCA) for “activities that it never conducted or offered” in the UK, a Binance spokesperson told CoinDesk on Monday in an emailed statement, confirming that the company had requested that those permissions be withdrawn. He commented as follows:
“As these consents were unlikely to be needed in the future, Binance Markets Limited has decided that it would be prudent to cancel them in line with the FCA’s recommendations to keep them up to date. This decision does not affect Binance.com, which does not own or operate any crypto services in the UK and is only available to UK consumers on a reverse solicitation basis.”
