- Binance introduces a UK-specific domain to comply with the Financial Promotions Regime.
- A partnership with Rebuildingsociety.com ensures approval of crypto marketing materials.
- Certain products like gift cards and research will be unavailable to UK retail users.
In a significant move to align with the updated Financial Promotions Regime, Binance, a leading cryptocurrency exchange, has introduced a new domain tailored specifically for its UK user base. This strategic initiative comes alongside a pivotal partnership with Rebuildingsociety.com Limited, an FCA-regulated firm, which holds the authority to approve cryptocurrency marketing and communications materials under the designation of an ‘S21 approver’.
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New Domain for UK Users
This collaboration, coupled with the launch of the new domain, positions Binance to offer its services in the UK while adhering to the revised Financial Promotions Rules. Beginning from October 8, 2023, UK retail users will find themselves redirected to the domain, where they will have access to a curated selection of Binance’s products and services that fully comply with UK regulations.
Compliant Services Offered
The suite of offerings available for UK users includes:
- Fiat and crypto deposits and withdrawals
- Spot Trading
- Margin Trading
- Convert
- NFT marketplace
- Binance Pay
- Crypto Loans
- Launchpad
Products Excluded from UK Retail Users
Notably, this adaptation to the Financial Promotions Regime entails that certain products will no longer be accessible to UK retail users. Among the exclusions are:
- Gift Cards
- Academy
- Research
- Feed
- Referral bonuses
Impact on UK Retail Users
It’s vital to emphasize that these changes are exclusively applicable to retail users in the UK. Users who fall under exemptions provided by the new Financial Promotions Regime, such as institutional and professional investors, remain unaffected by these alterations.
Binance’s Commitment to Regulatory Compliance
Binance’s unwavering commitment to global regulatory compliance remains at the forefront of their operations. The partnership with Rebuildingsociety.com has been instrumental in ensuring Binance’s ability to fulfill their regulatory obligations within the UK, enabling the seamless continuation of service to its users.
If you are interested in learning more about other cryptocurrency exchanges, check out our post on Best Crypto Exchanges – List of Bitcoin Trading Platforms.
Conclusion
In summary, Binance’s latest developments, including the launch of a UK-specific domain and the collaboration with Rebuildingsociety.com Limited, signify a proactive approach to stay aligned with evolving regulatory standards, while affirming their dedication to providing a reliable and compliant platform for cryptocurrency enthusiasts in the United Kingdom.
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