Britain’s Financial Conduct Authority has declared one of the largest cryptocurrency exchanges, Binance, is not permitted to undertake any regulated activity in the UK. The regulator said no other entity in the group holds any form of UK authorization, registration, or licence to conduct regulated activity.

Binance said the FCA notice would have no direct impact on the services it provides from its website Binance.com, reports BBC.

The FTSE 100 was today set to start the week flat while Bitcoin continued making gains after last week’s fall despite the UK clampdown on the Binance marketplace over moneylaundering concerns. Despite the ruling, there will be no impact on UK residents who use the website to purchase and sell crypto-currencies, the British media said.

Despite the ban, the FTA said. Binance’s existing crypto exchange is not UK-based so despite the decision, will not be affected by the ruling. Binance itself has not yet launched its UK business or used its FCA regulatory permissions. The regulator warned this month that many crypto exchanges were not meeting its anti-moneylaundering