In the decision bulletin published by the FCA, the FCA stated that crypto asset firms without registration cannot promote crypto assets to UK consumers unless they operate with authorized status.

In its statement, the Binance exchange is temporarily suspending the company’s promotional activities to comply with the Financial Supervision Authority rules due to the Financial Promotion Regime which will come into effect in the UK on October 8, 2023.

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This decision, among other requirements, banned the REBS from advertising Binance products. In the statement made by the exchange, it was stated that “Binance is currently looking for a new authority. Various restrictions will come into effect for our exchange in the upcoming period.”

After these statements, they did not forget to add the sentences “We are working closely with FCA, we are trying to find another suitable FCA authorized company that will approve our financial promotions as soon as possible.” to their statements.

Binance had previously announced that it has withdrawn from countries such as Russia, Canada for various reasons through its announcements.

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