Binance has reportedly been turned away by at least three Financial Conduct Authority-authorized partners since October.
Global crypto exchange Binance is having a hard time finding new partners to reenter the United Kingdom, according to a Bloomberg report citing people familiar with the matter.
Binance must have an authorized approver to come back to the U.K. market, as per local regulations. The approver is permitted by the Financial Conduct Authority (FCA) to authorize financial promotions, ensuring its compliance with FCA rules before being made public.
In recent months, Binance has been turned away by at least three firms with this regulatory permission, Bloomberg’s sources said. The exchange lost its U.K. partner in October after the FCA imposed restrictions on its then-approver, Rebuildingsociety.com (REBS).
