Amid regulatory pressure in the US, some bad news for Binance came from the UK.
Englandhas officially revoked the registration of Binance Markets Limited (BML), a subsidiary of Binance, with the UK Financial Authority.
FCAAfter the deletion of the record in the announcement published on the website of Binance’s It was stated that there is no authority to provide any service in the UK.
to Binance The cancellation of the permits in the UK was completed on May 30, and on June 7, it was announced that the authorization was revoked by the FCA. With the announcement made today, it was stated that Binance’s registration in the UK was completely deleted.
Announcement from the Stock Exchange! “The Company Was Not Working”
Ilir Laro, Binance’s regional manager for growth in the UK and Europe, stated that the deregistration of Binance Markets Limited had no operational impact because BML was never operational in the UK.
“We acquired BML in 2020, but this venture was unsuccessful and has remained dormant ever since. BML did not do any business in the UK. FCA’s move is also about the cancellation of these unused permits. BML no longer has any FCA licenses.”
It was stated that Binance is waiting for new legal regulations that will come into effect on October 8, 2023 to re-activate in the UK.
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