Amid regulatory pressure in the US, some bad news for Binance came from the UK.
The UK has officially revoked the registration of Binance Markets Limited (BML), a subsidiary of Binance, with the UK Financial Authority.
In the announcement published on the FCA website, it was stated that after the deregistration, Binance was no longer authorized to provide any services in the UK.
The cancellation of permissions for Binance in the UK was completed on May 30, and on June 7, it was announced that the authorization was lifted 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 Wasn't Working"
Ilir Laro, Binance's regional manager for growth in the UK and Europe, stated that the cancellation of Binance Markets Limited's registration had no operational impact because BML was never operational in the UK.
“We bought BML in 2020 but this venture was not successful and has been dormant ever since. BML has not done any business in the UK. FCA's move is also about revoking these unused permits. BML no longer has any FCA There is no license."
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.
