Binance says it will still operate under new UK rules despite earlier exit

Customers in the UK can access permitted services via a new web page.
Binance announced on October 6 that it had launched a new sub-page to serve UK customers in light of changing regulations.
The exchange said that in line with the UK’s updated financial promotion system, www.binance.com/en-GB will serve local residents.
Binance said UK users will only be able to access services that comply with local regulations. Still, the list of available services is extensive, as it includes fiat and cryptocurrency deposits and withdrawals, spot trading, margin trading, conversions, NFT markets, crypto lending, Binance Pay, and ICO platform Launchpad.
Binance noted that UK users will not be able to access its gift cards, referral sites, and its news aggregator Binance Feed. Crucially, UK users will not be able to receive referral bonuses, a feature that is now explicitly targeted by UK regulations.
Binance said in June that its UK subsidiary had revoked its FCA registration. The FCA registration shows that Binance remains unauthorized.
The company did not hint at its intention to register in the U.K. in its current announcement. Instead, Binance said it had worked with FCA-registered firm Rebuildingsociety.com to approve its marketing materials under the S21 Gateway Rule.
FCA rules come into effect this monthThe UK regulations that prompted Binance to take action are primarily aimed at restricting how cryptocurrency companies can market themselves. Notably, the new rules mandate risk warnings and prohibit referrals and sign-up bonuses. The potential penalties for violating the rules are severe, as they include possible imprisonment and potentially unlimited fines.
Changes to the financial promotion system will generally take effect on October 8. Binance said it will implement relevant service changes on that date.
Many other cryptocurrency companies have exited the UK market due to increasing compliance requirements. PayPal, ByBit, Luno and NiceHash have all said they will at least temporarily reduce the services they provide to UK users this month.