June 19 (Cointime) - Binance's UK-based subsidiary, Binance Markets Limited (BML), has cancelled its registration with the Financial Conduct Authority (FCA), meaning it is no longer authorised to undertake regulated activity in the UK. The FCA confirmed the cancellation on its website.

BML was acquired by Binance Group in 2020 with the intention of launching a regulated business, but this did not come to fruition. Binance's sub-regional manager for growth in the UK and Europe said the deregistration does not affect the exchange's operations, as BML had never conducted any regulated business in the UK.