In adherence to the recently updated Financial Promotions Regime, Binance, a leading cryptocurrency exchange, has introduced a new domain specifically for UK users. This move is part of Binance’s commitment to regulatory compliance in the UK market.
Partnership with Rebuildingsociety.com Limited
Binance has also entered into a partnership with Rebuildingsociety.com Limited, an FCA-regulated firm authorized as an ‘S21 approver’ for crypto marketing and communications materials. This collaboration ensures that Binance’s marketing and communication materials meet the necessary regulatory standards.
As a result of these developments, UK retail users will now be redirected to the domain www.binance.com/en-GB. This domain will exclusively display Binance products and services that are fully compliant with UK regulations. These offerings encompass fiat and crypto deposits and withdrawals, spot trading, margin trading, NFT marketplace, Binance Pay, crypto loans, and Launchpad services.
Impact on Product Availability
Due to compliance with the Financial Promotions Regime, certain Binance products will no longer be accessible to UK retail users starting from October 8, 2023. These include gift cards, access to the Academy, research materials, feed access, and referral bonuses.
Exemptions for Some Users
It’s important to note that these changes apply solely to retail users in the UK and will not affect users who qualify for exemptions under the new Financial Promotions Regime, such as certain institutional and professional investors.
Binance underscores its commitment to regulatory compliance worldwide while ensuring uninterrupted service to its user base. This strategic partnership and domain launch represent Binance’s proactive response to evolving regulatory requirements in the UK cryptocurrency market.