In compliance with the updated Financial Promotions Regime, Binance has reportedly launched a new domain for UK users and partnered with Rebuildingsociety.com Limited which will “approve Binance’s marketing and communications materials.”
Rebuildingsociety.com is an FCA regulated firm which is “authorized to approve crypto marketing and communications materials as an ‘S21 approver’.”
This partnership and new domain means that Binance can reportedly “offer services in the UK in compliance with the updated Financial Promotions Rules.”
UK retail users will now be “redirected to www.binance.com/en-GB, which will only show Binance products and services that we can offer in compliance with UK regulations.”
These include:
- Fiat and crypto deposits and withdrawals
- Spot Trading
- Margin Trading
- Convert
- NFT marketplace
- Binance Pay
- Crypto Loans
- Launchpad
Binance says its compliance with the Financial Promotions Regime means “that certain products will no longer be available to UK retail users,” for example:
- Gift Cards
- Academy
- Research
- Feed
These changes only apply to retail users in the UK “from 8 October 2023, and will not affect users which are exempt under the new Financial Promotions Regime (such as certain institutional and professional investors).”
Compliance with regulation around the world remains “a top priority” for Binance, the company claims.
They firm says they are pleased that their partnership “with Rebuildingsociety.com allows us to meet our regulatory commitments in the UK and provide uninterrupted service to our users.”
Jarek Jakubcek, Head of Law Enforcement Training at Binance, recently discussed how they can build confidence and trust in the ecosystem.
In a recent session, he shared some detailed activities Binance is doing “to work closely with law enforcement agencies.”
The Binance Investigation team claims that it “voluntarily complies and works closely with law enforcement agencies around the world to provide practical assistance and to do it fast – faster than other cryptocurrency or even traditional financial companies.”
Also, the team delivers training “to law enforcement agencies globally, with more than 70 training sessions offered so far in 2023.”