Jakarta, CNBC Indonesia – The UK FCA or The Financial Conduct Authority has officially banned the operation of the Binance crypto marketplace.
“Binance Markets Limited is not authorized to conduct regulated activities in the UK,” the FCA report said.
“No other entity in the Binance Group holds any form of UK authorization, registration or license to conduct regulated activities in the UK,” the FCA statement said.
In fact, cryptocurrency trading is not directly regulated in the UK. However, other related activities, such as selling derivatives, still require the approval of local financial authorities.
The FCA statement also warned UK investors about the volatility of the crypto market.
“Be wary of advertisements online and on social media that promise high returns on investments in crypto assets,” the FCA added.
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