Binance Contact Number Uk

If you’re a cryptocurrency enthusiast in the UK, you may have come across Binance. The popular crypto exchange has been making waves in the industry. However, recent regulatory changes have prompted some adjustments to Binance’s operations in the UK.

New Rules for Cryptoasset Promotion

On October 8, 2023, the UK Financial Promotions Regime for qualifying cryptoassets came into effect. These rules allow unregulated overseas firms, including Binance, to promote their cryptoasset businesses in the UK, provided they engage with a firm authorized by the Financial Conduct Authority (FCA).

To comply with these regulations, Binance enlisted the help of Ltd (REBS), an FCA authorized firm, to review and approve its UK financial promotions. This partnership ensured that Binance’s activities were in line with the new rules.

Changes in Approvals

However, on October 10, the FCA imposed legally-binding requirements on REBS, which prevented them from approving any financial promotions. As a result, REBS had to withdraw any existing approvals of financial promotions on behalf of cryptoasset businesses, including Binance, starting from 5 pm on October 11, 2023.

Binance is actively searching for a new FCA authorized approver. In the meantime, there will be some temporary restrictions on the Binance platform, including the website and the latest version of the mobile app. These restrictions will remain in effect until Binance onboards a new FCA authorized approver and has its financial promotions reapproved.

What Does This Mean for You?

If you’re a Binance user in the UK, here’s what you need to know:

  • Binance will stop accepting new UK users from Monday, October 16, 2023, at 5 pm UK time.
  • Existing users can still access the platform and its services, as long as they have completed their Investor Declaration and Appropriateness Test.
  • However, new products and services will not be available during this interim period.
  • It is essential to read the risk warnings provided by Binance and familiarize yourself with different cryptoasset risks.
  • Binance encourages users to explore the ‘Info’ tab before investing in specific cryptoassets on the Spot Exchange to enhance their knowledge.

Our Commitment to Users

Rest assured, Binance is working closely with the FCA to ensure that these developments do not harm its users. The platform is actively searching for another suitable FCA authorized firm to approve its financial promotions as soon as possible. If you have any queries or concerns, please reach out to our Customer Support team by clicking the ‘Support’ button at the top of the navigation bar and selecting ‘Support Live Chat.’

As the crypto industry evolves, Binance remains dedicated to providing a reliable and secure platform for cryptocurrency enthusiasts in the UK and around the world. Stay tuned for updates as we navigate through these regulatory changes together.