Britain’s financial regulator has ordered Binance, one of the world’s largest cryptocurrency exchanges, to stop all regulated activity and warn consumers about the platform, which is coming under growing study globally. In a notice dated June 25, the Financial Conduct Authority (FCA) said Binance Markets Ltd., Binance’s UK entity, “must not, without the prior written consent of the FCA, carry out any regulated activities with immediate effect”.

While cryptocurrency trading is not directly regulated in Britain, offering these services in cryptocurrency derivatives does require authorization. The FCA has told Binance that by June 30, it must display a notice stating “Binance Markets Ltd. is not permitted to undertake any regular activity in the UK” on its website and social media channels. It must also secure all records related to UK consumers and inform the work done to FCA by July 2.

The regulator did not explain its actions against Binance, which has previously said that it takes its legal obligations “very seriously” and engages “with regulators and law enforcement in a collaborative fashion”. The FCA is stepping up its oversight of cryptocurrency trading, which has gained in popularity in Britain along with other countries around the globe.