in

Binance Introduces UK Domain to Comply with Financial Promotions Rules

Binance has taken steps to comply with the updated Financial Promotions Regime by launching a new domain for its UK users. In addition, the company has partnered with FCA regulated firm Rebuildingsociety.com Limited, which will approve Binance’s marketing and communications materials related to cryptocurrencies.

Rebuildingsociety.com is authorized to approve crypto marketing and communications materials as an ‘S21 approver’. This partnership and the new domain will enable Binance to offer its services in the UK while adhering to the updated Financial Promotions Rules.

UK retail users will now be redirected to the domain www.binance.com/en-GB, where only Binance products and services compliant with UK regulations will be displayed. These services include fiat and crypto deposits and withdrawals, spot trading, margin trading, conversion, NFT marketplace, Binance Pay, crypto loans, and Launchpad.

However, as a result of the compliance measures, certain products will no longer be available to UK retail users. These include gift cards, academy, research, and feed. These changes will only affect retail users in the UK from 8 October 2023 and will not impact exempt users under the new Financial Promotions Regime, such as certain institutional and professional investors.

Binance emphasizes that compliance with regulations worldwide is a top priority for the company. They express satisfaction with the partnership with Rebuildingsociety.com, as it enables them to fulfill their regulatory obligations in the UK and provide uninterrupted service to their users.

Jarek Jakubcek, Head of Law Enforcement Training at Binance, recently discussed the company’s efforts to build confidence and trust in the ecosystem. He highlighted Binance’s voluntary compliance and close collaboration with law enforcement agencies globally. The Binance Investigation team claims to provide practical assistance to law enforcement agencies and to do so faster than other cryptocurrency or traditional financial companies. The team has conducted over 70 training sessions for law enforcement agencies worldwide in 2023 alone.

Follow crowdfundingmagazine on Instagram: @crowdfundingmagazine_it

What do you think?

363 Points
Upvote Downvote

Written by editorial

Leave a Reply

Your email address will not be published. Required fields are marked *

Coinbase to Release Q3 2023 Financial Results on November 2

ADB Approves $300m Loan to Enhance Financial Inclusion in the Philippines