Why was Binance banned UK?

I'm quite puzzled about the recent ban on Binance in the UK. As a leading cryptocurrency exchange platform, Binance has always been regarded as a reliable and secure trading hub for crypto assets. Could you please explain the reasons behind this ban? Was it due to compliance issues, security concerns, or perhaps something else? I'm interested in understanding the specific reasons and the impact this ban will have on the cryptocurrency industry in the UK and beyond. Thank you for your time.