According to Cointelegraph, on October 16, 2023, Binance, a crypto exchange, will pause accepting users in the United Kingdom as of (5:00 pm)local time.
The move is expected to come after the country’s Financial Conduct Authority (FCA) imposed legally binding requirements on its partner Rebuildingsociety.com Ltd (REBS) on October 10, 2023.
“Binance is currently looking for a new FCA-authorised approver. However, there will be some temporary restrictions coming into effect on our Platform (i.e. http://www.binance.com/en-GB and the latest version of our Mobile App) during the period until Binance onboards with a new FCA authorised approver and has its financial promotions reapproved,” Binance explained.
However, the exchange is believed to have mentioned that “any new products and services will not be made available during this interim period.” Furthermore, other products such as gift cards, Binance Academy, Binance Research, Binance Feed and Referral Bonus, among others, available on the Binance international platform are currently unavailable on its U.K. platform, Cointelegraph concluded.
(With insights from Cointelegraph)
