Discover how Binance is navigating through the changing landscape of financial regulations in the UK.
From launching a new domain to partnering with authorized firms, learn how Binance is ensuring compliance while continuing to serve its UK user base.
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New Domain Launched for UK Residents
On October 6, 2023, the cryptocurrency exchange Binance announced the launch of a new domain aimed specifically at UK residents.
This move comes in compliance with the United Kingdom's new Financial Promotions Regulation System.
The company elaborated that it has partnered with a firm authorized to approve cryptocurrency marketing and communication materials, known as 'Rebuildingsociety.com.'
Due to this collaboration and the new domain, Binance is able to continue providing services to UK residents while adhering to local regulations. UK users are reportedly redirected to the site 'www.binance.com/en-GB.'
Limited Services for Individual Users in the UK
The newly launched UK-centric page only displays services that can be offered within the scope of UK regulations. The services available and restricted for UK residents are as follows:
Available Services in the UK
- Fiat and cryptocurrency deposits and withdrawals
- Spot trading
- Margin trading
- Convert
- NFT marketplace
- Binance Pay
- Crypto loans
- Launchpad
Restricted Services in the UK
- Gift cards
- Academy
- Research
- Feeds
- Referral bonuses
The change applies only to individual users in the UK starting from October 8, 2023. It does not affect certain institutional or professional investors who are exempt from the new Financial Promotions Regulation System.
Binance continues its efforts to comply with regulations in various countries. Recently, it has started offering services in Japan and has also announced a full withdrawal from Russia.
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Binance Announces "Full Withdrawal from Russia" and Sells its Entire Business to CommEX
Binance is fully withdrawing from the Russian market and has agreed to sell its entire business to CommEX. Learn about the implications of this strategic move, its impact on existing users, and how Binance and CommEX are collaborating to make the transition smooth.
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