Binance has suspended access to its crypto exchange for new users based in the UK, after a partnership with a third party to approve communications on its platform under new local rules was terminated by the country’s watchdog. From a report: Any customers based in the UK not already signed up to Binance’s platform were no longer able to join the exchange from 5 p.m. in London on Monday, according to a blog post published by Binance. The move puts the world’s largest crypto exchange out of reach for new users in the UK, setting the scene for a battle by Binance to return to one of the sector’s biggest markets outside of the US. <\/p>\n
The UK’s financial promotions regime was widened starting on Oct. 8 to include cryptoasset service providers, regardless of their location. All crypto platforms are now required by the regulator to display clear risk warnings to UK-based consumers and meet higher technical standards, with all communications needing to be approved by an FCA-authorized firm. Penalties for not doing so include being added to the FCA’s public warning list, as well as unlimited fines and prison time.<\/p>\n
\n![](\"https:\/\/www.prime-wow.com\/wp-content\/uploads\/2023\/10\/twitter_icon_large-601.png\"){kind=icon}
<\/a>![](\"https:\/\/www.prime-wow.com\/wp-content\/uploads\/2023\/10\/facebook_icon_large-300.png\"){kind=icon}
<\/a><\/p>\n<\/div>\nRead more of this story<\/a> at Slashdot.<\/p>\n
Binance has suspended access to its crypto exchange for new users based in the UK, after a partnership with a third party to approve communications on its platform under new local rules was terminated by the country’s watchdog. From a … Continue reading
\n
\nSource: Slashdot – Binance To Halt New UK Customers From Using Crypto Exchange<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"