Binance Will Comply With New UK Rules On Financial Promotions

Major global cryptocurrency exchanges and industry firms have indicated their intention to follow the UK Financial Conduct Authority's (FCA) new financial promotion regulations.

On October 6, Binance announced the launch of a new domain for its UK users, as well as a partnership with the local peer-to-peer lending site Rebuildingsociety. Binance's UK retail users will be moved to the localized domain, which will only display products and services permitted under UK law, in accordance with the FCA's restrictions. Gift cards, referral bonuses, the academy, and research will not be available for UK users.

Amidst the regulatory changes, the FCA issued warnings to 143 entities, including major exchanges like KuCoin, Bybit, BitMex and HTX (formerly Huobi), for potentially promoting their services without permission.