Binance Seeks FCA License as It Prepares to Reenter UK Market

Binance is preparing to reenter the UK market after being restricted from carrying out regulated activities in 2021. The company plans to apply for a crypto-asset business license under the new U.K. regulatory framework, which will begin accepting applications on September 30.

The framework requires crypto firms to establish a business presence in the UK and meet standards for management, governance, and regulatory compliance. As part of the licensing process, Binance is expected to set up a local board.

In 2023, Binance suspended new U.K. user registrations after the country changed its rules governing promotions for crypto financial products. The company's return to the UK market comes as it seeks to expand its presence in Europe.