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Its more the case that the FSA (mostly the consumer regulator) has specifically warned that binance is not allowed to do financial services in the UK, because they have not got the correct permissions.

https://www.fca.org.uk/news/news-stories/consumer-warning-bi...

Unlike the USA, there is now a fairly healthy investment and consumer banking industry. There are now a number of challenger banks who are able to out innovate the incumbents.

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This is correct but, crucially, not what was conveyed by the reporting on Binance in almost all of the major news outlets. For example the massively misleading previous headline "Binance banned in the UK" in the FT.

The FCA ruling is not really the problem imo, i'm more reacting to the financial press such as FT and the Economist. Cooling down overleveraged small traders about to lose it all on some bad investment is definitely a good thing. However, intentionally misleading people via major newsites including the BBC is not.

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