On October 6, 2023, Binance News unveiled a UK-specific domain in compliance with the Financial Conduct Authority (FCA) regulations.
Starting October 6, 2023, Binance introduced a dedicated UK domain, binance.com/en-GB, exclusively serving UK-based clients. This move aligns with the Financial Conduct Authority (FCA) regulations, specifically the updated Financial Promotions Regime. Binance’s collaboration with Rebuildingsociety.com Limited facilitated this domain launch.
The FCA issued stern warnings to unregistered crypto firms, emphasizing the need to adhere to the new Financial Promotions Regime starting from October 8. This regime mandates that crypto exchanges and firms can only promote financial (crypto) schemes through ‘authorized persons’ recognized by the FCA.
In response, Binance partnered with Rebuildingsociety.com Limited, an FCA-regulated firm authorized to approve crypto marketing and communications materials in compliance with Section 21. This strategic alliance ensures Binance’s adherence to FCA regulations while serving its UK clientele.
Distinctive Features of Binance’s UK Domain:
The UK domain will exclusively showcase Binance services following UK regulations, such as fiat and crypto deposits/withdrawals, spot trading, margin trading, NFT marketplace conversion, Binance Pay, crypto loans, and the Launchpad.
However, some offerings not in compliance with the Financial Promotions Regime will no longer be available to UK retail consumers, including gift cards, academy content, research materials, feed access, and referral rewards.
These adjustments will only impact regular UK users from October 8, 2023. Individuals exempted under the new Financial Promotions Regime, like certain institutional and professional investors, won’t be affected.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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