Although the FCA has banned regulated activities, UK traders can still use Binance to buy and sell crypto because the exchange is not based in Britain. Binance Markets Ltd, registered in London, is not authorised to conduct any activities in the country, but Binance.com does not fall under this remit. The FCA has not disclosed the reasons for the restrictions on Binance, but this is believed to be around concerns about consumer protections and the possibility of money laundering. As a regulator, the FCA does not have powers to regulate cryptocurrency but does grant authority to companies who wish to sell or advertise products related to crypto assets. Any business registered and operating in the UK and providing cryptocurrency services must register with the FCA and demonstrate compliance with anti-money laundering rules.