Binance Launches Domain for Users in the UK, Collaborating with Regulated FCA

Binance, one of the world's leading cryptocurrency exchanges, has announced the creation of a separate domain for its users in the United Kingdom. This move is significant and becomes especially meaningful due to Binance's partnership with Rebuildingsociety, an organization regulated by the UK's Financial Conduct Authority (FCA).

This partnership stands out because Rebuildingsociety holds a special status as an authorized entity under S21. This grants it the authority to approve marketing and communication materials related to cryptocurrencies. Such a status ensures that all offerings on the British Binance domain will precisely adhere to the country's regulatory standards.

Representatives of the exchange have announced that users from the United Kingdom will now be redirected to a domain where they will have access to Binance products and services that comply with all the rules. This means they will be able to safely perform deposit and withdrawal operations, trade on the spot market, and use margin trading.

Additionally, users will be able to conduct currency conversions, receive cryptocurrency loans, use Binance Pay, and utilize the NFT marketplace. However, it is worth noting that some services, such as gift cards, referral bonuses, and academy materials, will remain unavailable to users from the United Kingdom.

In 2021, the FCA expressed serious concerns about Binance's activities in the United Kingdom and even imposed a ban on its operations in the country. The regulator believed that Binance could not be effectively controlled and noted that Binance Group was providing services and products to British clients through its website, Binance.com, thereby violating the country's legislation.

Lucy Casldaine, Director of Consumer Investments at the FCA, announced that stringent measures would be taken against firms illegally selling products to British consumers starting from October 8.