Binance’s effort to comply with regulations keeps hitting roadblocks. No matter how much the global exchange does, there always seems like there is more to do!
The exchange announced a temporary halt on new UK customer registrations in response to the recent amendments from the Financial Conduct Authority (FCA). According to the exchange’s latest updates, Binance will stop onboarding new UK users, starting from Monday 16 October 2023.
The new rules will also place restrictions on the exchange’s existing customers in the UK. Binance noted that available services remain accessible to existing UK users, but “any new products and services will not be made available during this interim period.”
More Heat From Legacy Regulators
On Oct. 8, Binance launched a UK-specific domain in partnership with REBS, an FCA-approved firm, to provide financial promotions in compliance with FCA’s regulations. This was the exchange’s attempt to…
