The FCA imposed stringent requirements in a stinging rebuke of one of the world’s biggest cryptocurrency exchanges.

“Due to the imposition of requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA,” the authority said in a statement.

“No other entity in the Binance Group holds any form of UK authorization, registration or license to conduct regulated activity in the UK,” it added.