Binance Plans UK Comeback Ahead of New Regulatory Regime

Binance is set to apply for a cryptoasset license from the Financial Conduct Authority (FCA) in the UK, signaling a potential return to the market where it has encountered multiple obstacles. The exchange is anticipated to file for the license when applications begin next month, as per The Telegraph. This strategic move coincides with the implementation of a new regulatory regime in October 2027, which will mandate exchanges catering to UK customers to adhere to more stringent standards.

These standards encompass a UK-based presence, adequate financial and operational resources, and senior management fulfilling the regulator's 'fit and proper' criteria. As part of its application, Binance is projected to establish a UK-based board.