Cryptocurrency exchange Binance, regarded as the world’s largest, has officially exited the United Kingdom and has withdrawn its request for registration within the nation amid heightening regulatory scrutiny by the Financial Conduct Authority (FCA) – just days after exiting the Dutch and Cypriot markets.

The law-troubled crypto exchange continues to exit major markets as it faces pushback from national and global regulators, and after exiting the UK, the exchange printed a statement on its website:

“Following the completion of the cancellation of permissions, the firm is no longer authorized by the FCA. No other entity in the Binance Group holds any form of UK authorization or registration to conduct regulated business in the UK.”

Binance sub-regional manager for growth in the UK and Europe, Ilir Laro, took to Twitter to highlight that the crypto exchange continues to hold five regulated entities in Europe; Spain, France, Italy, Poland and Sweden.

Laro also highlighted that as the EU-led Markets in Crypto Assets (MiCA) bill is expected to come into force towards the next year, Binance “is moving focus to getting ready which means some consolidating in order to passport throughout Europe.”

Sources:

https://cointelegraph.com/news/binance-cancels-registration-in-the-uk-amid-regulatory-scrutiny

https://watcher.guru/news/binance-cancels-u-k-registration-no-longer-authorized-to-operate

https://coingape.com/binance-officially-exits-uk-after-the-netherlands-and-cyprus/

https://www.coinspeaker.com/binance-withdraws-request-fca-uk/