– Binance, the world’s largest crypto exchange, will temporarily stop accepting new UK users due to regulatory restrictions.
– The UK’s Financial Conduct Authority (FCA) imposed restrictions on Binance’s UK promotions approver, Rebuilding Society, regarding new crypto promotions rules.
– Binance is seeking a new FCA-authorized partner in the UK and will have temporary restrictions on its platform and mobile app for UK users until a new partner is found.
– Existing users who have completed specific tests will retain current services, but new products or services will not be available during this period.
– Binance is working closely with the FCA to ensure user protection and will maintain risk warnings on its platform.
– The partnership between Binance and Rebuilding Society was announced on October 8, but the FCA imposed restrictions just two days later.
– The FCA’s new crypto promotions rules took effect on October 8, and failure to comply can result in criminal offenses.
– This information is for informational purposes only and not intended as legal, tax, investment, financial, or other advice.
Binance, the world’s largest cryptocurrency exchange, has announced that it will temporarily stop accepting new users from the UK. This decision comes after its UK promotions partner, Rebuilding Society, faced restrictions from the UK’s Financial Conduct Authority (FCA) regarding new crypto promotions rules. Binance is currently searching for a new FCA-authorized partner in the UK, and until then, there will be temporary restrictions on its platform and app for UK users. Existing users who have completed the necessary requirements will retain their current services, but new products and services will not be available. Binance is working closely with the FCA to ensure users are not adversely affected and will continue to provide risk warnings and encourage users to read relevant information before investing in cryptocurrencies. Binance’s partnership with Rebuilding Society lasted only a few days before the FCA imposed restrictions. The FCA’s new crypto promotions rules came into effect on October 8, and failure to comply with these guidelines can result in criminal offenses.
This is sponsored by: Learn Bitcoin Option