Financial regulators of Italy and Malta have joined the growing number of countries to warn about "unauthorized activity" of crypto giant Binance.

The Malta Financial Services Authority (MFSA), has issued a statement to point that the exchange is not licensed nor authorized by the MFSA to conduct any business in or from Malta.

And the Italian Companies and Exchange Commission (Consob) has added that companies affiliated with the exchange companies - the Binance Group are not authorized to provide services and activities in Italy.

Binance continue to point that the warnings have no direct impact on the services provided on, stating that "Visa and Mastercard will continue working with Binance despite pressure from a growing number of regulators 

The latest regulatory warning comes after the UK's watchdog Financial Conduct Authority (FCA) banned Binance's UK subsidiary from any regulated activity without prior written approval from the regulator. 

As reported, in the FCA's warning, the regulator noted that Binance Markets Limited is part of the Binance Group. Later, the Cayman Islands Monetary Authority (CIMA) followed the FCA's warning and declared that the exchange and its associated companies are not registered in the jurisdiction and the Monetary Authority of Singapore (MAS) said it will monitor the subsidiary of local exchange Binance Asia Services Pte.