Binance reportedly seeks UK FCA license to relaunch services

Binance is reportedly planning to apply for a license from the UK’s Financial Conduct Authority (FCA) to relaunch certain services in the country, potentially as early as 2027. This move follows a period of restricted operations; in 2021, the FCA warned that Binance’s UK arm, Binance Markets Limited, was not permitted to undertake regulated activities, and the exchange halted new user registrations in 2023 to comply with financial promotion rules.

The application would align with the UK’s new digital asset regulatory framework. Under this regime, companies can submit applications between September and February 28, 2027, before the new rules officially take effect on October 25, 2027. David Geale, the FCA’s executive director of payments and digital finance, stated that the framework will hold crypto firms to “similar standards” as other financial service providers.

A Binance spokesperson declined to comment on speculation regarding potential license applications.