Binance Encounters Obstacles in UK Market Return Due to Partner Reservations

Binance Encounters Obstacles in UK Market Return Due to Partner Reservations



Binance is encountering obstacles in its efforts to re-establish a presence in the U.K. market, with potential local collaborators hesitating due to concerns raised by regulatory authorities.



Sources close to the situation, who chose to remain anonymous, informed Bloomberg that in recent months, three U.K.-based firms, licensed to facilitate interactions between cryptocurrency platforms and their users, have turned down approaches from Binance. According to U.K. law, for Binance to manage financial advertisements, it needs the support of a company approved by the Financial Conduct Authority (FCA), ensuring compliance with the FCA's strict regulations on public communications.



Despite these challenges, Binance is optimistic about finding a suitable partner that meets regulatory requirements. The company dismissed the notion that


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#Binance, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations, #UK

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