Cryptocurrency exchange Binance plans to re-enter the UK market after applying for regulatory approval under new digital asset laws.
Binance is preparing to apply for a license from the UK’s Financial Conduct Authority to resume regulated services in the country by 2027. The move follows a 2021 ban on its UK arm, Binance Markets Limited, from conducting regulated activities, and a 2023 decision to halt new user onboarding due to FCA rules on financial promotions.
New crypto regulations in the UK, announced in June, require firms to submit license applications between September 2024 and February 2027 before the regime takes effect in October 2027. The FCA stated the framework will enforce standards comparable to other financial service providers.
A Binance spokesperson declined to comment on potential license applications but did not address current UK operations. The exchange’s return would mark a significant shift after years of restrictions in the market.