Binance has had a tough year when it comes to dealing with regulatory hurdles across the globe. The latest comes in the form of a UK regulatory hurdle
Binance confirmed in a blog post that starting October 16, no new UK customers will be accepted. The regulatory body in the UK barred the authorized firm Rebuildingsociety.com Ltd from functioning, resulting in the development. The FCA has been cracking down on the digital asset industry, mandating the collection of information about crypto asset transfers. , that has caused the exchange to stop accepting new customers in the jurisdiction.
a company set up to promote outside crypto exchanges to UK customers. short for Rebuildingsociety.com Ltd, was a firm authorized by the FCA to allow unregulated overseas firms like Binance to promote their crypto businesses in the country. However, on October 10, the FCA imposed legally binding requirements on
resulting in the firm ending its contracts with the companies it was providing promotional services to, including Binance. Binance announced that it is currently looking for a new FCA-authorized approver; and existing UK users will retain the services currently available to them. Crypto and UK The United Kingdom recently increased regulation governing the transfer of crypto assets.
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