Binance Launches New Domain In UK Ahead Of New Financial Promotions Regime
The world’s largest exchange, Binance, has launched a new domain for United Kingdom users in compliance with the incoming financial promotions rules of the island nation.
This development was announced on October 6 via a blog post as Binance looks to maintain its services under the UK’s new financial marketing regime, which is set to commence on October 8
Binance Shuffles UK Services, Partners With Authorized Promotion Agency
In June, the UK’s Financial Conduct Authority (FCA) announced an overhaul of marketing rules in regard to crypto assets.
Under this new financial promotion regime, the FCA will look to stamp out misleading crypto advertisements or incentivizing promotional schemes such as the “refer a friend” bonus.
According to Binance’s recent blog post, its new UK domain, www.binance.com/en-GB, will only provide access to products and services that are in compliance with the incoming marketing regulations.
These include fiat and crypto deposits and withdrawals, spot trading, margin trading, Binance pay, and crypto loans, among others.
On the same note, certain Binance services will now be inaccessible to UK users. These include the Binance gift cards, academy, research, and feed features, as well as referral bonuses.
Furthermore, Binance has also partnered with Rebuildingssociety.com Limited, an FCA-registered promotions firm that will approve all of the exchange’s marketing and promotional material.
Back in July, the FCA wrote an open letter to all crypto firms intending to operate under its new advertisement regime outlining the legal routes for communicating financial promotions to UK consumers
Binance seems to have adopted one of these routes, which is promotions approved by an authorized person as recognized by the FCA handbook.
Other means of marketing under the UK’s new financial promotion regime include direct promotion by an authorized person or by crypto assets firms registered with the FCA.
#Binance #crypto2023
The world’s largest exchange, Binance, has launched a new domain for United Kingdom users in compliance with the incoming financial promotions rules of the island nation.
This development was announced on October 6 via a blog post as Binance looks to maintain its services under the UK’s new financial marketing regime, which is set to commence on October 8
Binance Shuffles UK Services, Partners With Authorized Promotion Agency
In June, the UK’s Financial Conduct Authority (FCA) announced an overhaul of marketing rules in regard to crypto assets.
Under this new financial promotion regime, the FCA will look to stamp out misleading crypto advertisements or incentivizing promotional schemes such as the “refer a friend” bonus.
According to Binance’s recent blog post, its new UK domain, www.binance.com/en-GB, will only provide access to products and services that are in compliance with the incoming marketing regulations.
These include fiat and crypto deposits and withdrawals, spot trading, margin trading, Binance pay, and crypto loans, among others.
On the same note, certain Binance services will now be inaccessible to UK users. These include the Binance gift cards, academy, research, and feed features, as well as referral bonuses.
Furthermore, Binance has also partnered with Rebuildingssociety.com Limited, an FCA-registered promotions firm that will approve all of the exchange’s marketing and promotional material.
Back in July, the FCA wrote an open letter to all crypto firms intending to operate under its new advertisement regime outlining the legal routes for communicating financial promotions to UK consumers
Binance seems to have adopted one of these routes, which is promotions approved by an authorized person as recognized by the FCA handbook.
Other means of marketing under the UK’s new financial promotion regime include direct promotion by an authorized person or by crypto assets firms registered with the FCA.
#Binance #crypto2023