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    Binance customers from using its exchange based in the Cayman Islands to buy and sell Bitcoin and other cryptocurrencies.Nevertheless, the FCA is sending a strong signal that it is worried about the dangers of investing in cyptocurrencies in general.

    The reason it wants them all to register is because oncerned about their potential use as a cover for illicit activity - and it wants b binance login consumers to be very careful indeed.

    As well as forbidding Binance from setting up an exchange in the UK, the regulator is ordering its UK division to stop any form of advertising here by 30 June. More significantly, it has until the end of this week to show the FCA that it has stored records of all of its UK customers, ready to be handed over if necessary.

    And there's a message to binace login UK consumers to check whether any crypto company is registered with the regulator and, if it isn't, to consider withdrawing their assets.

     

    This is not the first time that Binance has come under scrutiny by regulators over its global operations.

    In the US, one of the firm's entities - Binance Holdings - has been the subject of a probe by the US Securities and Exchange Commission (SEC), specifically by its officials dealing with money laundering and tax offences, according to

    The SEC issued a similar warning to US consumers in April about the platform.

    On Saturday, Binance announced it was pulling out of Ontario, Canada, after the Ontario Securities Commission (OSC) accused it and several other crypto trading platforms of failing to comply with province regulations.

    And on Friday, Japan's Financial Services Agency (FSA) warned Binance for the second time in three years that it is operating in farm. He has used for about six months.

    "This ruling probably won't impact me in the short term, but long term it may push me to using one of the many other less secure exchanges," he explains.

    "The FCA are taking a blunt approach - this is a space which is growing and employs millions so it's like them banning the internet

    It is possible to use apps to buy cryptocurrencies in the UK, but the FCA regulates speculation on prices

     

    One service Binance offers is the ability to use local currency to purchase digital currencies - known as fiat on-ramp in the industry. In mid-June, Binance US partner Silver gate Bank decided to stop processing US dollar deposits and withdrawals for the firm, according to binance

    While the cryptocurrency exchange says its entities are not all connected to it, Nick long-time cryptocurrency investor and entrepreneur, told the BBC this was a handy tactic for avoiding regulatory problems.

    "Binance has over the course of their operations, moved several times to new jurisdictions," he said.

    "That's not uncommon for these fledgling crypto businesses... if the regulations don't suit their needs, they just move their operations."

    Another of the firm's entities - Binance.US - is currently one of the biggest digital currency exchanges in the US, and Binance is one of the biggest firms in the global fintech industry, he says.