The exchange will apply for UK regulatory approval next month ahead of stricter October 2027 requirements for crypto firms.
Binance plans to apply for a UK cryptoasset licence from the Financial Conduct Authority next month, aiming to re-enter a market where it has faced multiple regulatory challenges. The move precedes new rules set to take effect in October 2027, which will mandate local presence, financial resources, and senior management approval for exchanges serving UK customers.
The FCA previously barred Binance’s UK entity in 2021, citing supervision concerns, and later restricted its marketing in 2023. The exchange has continued serving UK users from outside the country. Binance also settled US charges in 2023, agreeing to pay $4.3 billion over anti-money-laundering and sanctions violations.
As part of its application, Binance is expected to establish a UK-based board to meet the regulator’s “fit and proper” requirements.