Binance Eyes UK Re-Entry with FCA Authorization Bid

Binance is planning to re-enter the UK market after the country's new comprehensive crypto rules take effect in October 2027. The exchange will reportedly apply for authorization from the Financial Conduct Authority (FCA) through its subsidiary, Binance Markets Limited.

The FCA imposed restrictions on Binance Markets Limited in June 2021, preventing it from conducting regulated activities without the regulator's prior written consent. The watchdog cited concerns over the company's structure and complex products.

The UK government's new framework will require authorized crypto firms to meet stricter standards, including capital requirements, governance, custody, financial crime controls, and consumer protection regulations.