The U.K.'s Financial Conduct Authority (FCA) has reportedly announced that it has banned Binance Markets from engaging in any regulated activity in the country and issued an alert to consumers in response to the platform.

FCA informed that Binance Markets has until the evening of June 30 to confirm that it has removed all advertising and financial promotions. The exchange must also clarify its website, social media channels, and all other communications that it is no longer permitted to operate in the U.K.

Binance responded that "The Binance Group acquired BML May 2020 and has not yet launched its U.K. business or used its FCA regulatory permissions, Binance said in a statement.", "The FCA UK notice has no direct impact on the services provided on Binance.com."