Binance has stopped onboarding new UK users
Crypto exchange Binance will stop accepting users in the UK on October 16 at 5pm.
According to Binance's announcement, the move comes after the country's Financial Conduct Authority (FCA) issued legally binding requirements on its partner Rebuildingsociety.com Ltd (REBS) on October 10. and services. The exchange wrote:
“Binance is currently looking for a new FCA-authorized approver. However, there will be some temporary restrictions that apply to our platform (ie www.binance.com/en-GB and the latest version of our mobile app) until Binance finds a new FCA-authorized approver.” On the existing board and the financial promotions were re-approved.
Binance users in the UK will remain serviced. However, the exchange clarified that “no new products and services will be offered during this interim period.” Various products available on the Binance international platform such as Gift Cards, Binance Academy, Binance Research, Binance Feed and Referral Bonuses are currently not available on the UK platform.
Cointelegraph previously reported that the FCA has begun implementing a series of new crypto marketing regulations. The ruling allowed FCA-registered entities at the time to market products and services on behalf of non-FCA-registered overseas firms. Binance plans to use REBS to allow its UK users to view the exchange's products and services through a local domain, as the exchange is not registered with the FCA.
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