Binance, the leading global crypto exchange, has unveiled a specialized domain for its UK audience in anticipation of the UK’s forthcoming Financial Promotions Rules. In addition to launching a UK-specific domain, Binance has partnered with Rebuildingsociety.com Limited, an entity regulated by the FCA and designated as an S21 approver, authorized to approve crypto-centric marketing and communication content.
While some industry observers were surprised by Binance’s move, given the intense regulatory scrutiny it faces globally, this strategic decision ensures Binance’s services in the UK are in full compliance with the revised Financial Promotions Rules. As a result, UK users will be automatically redirected to www.binance.com/en-GB, a portal that exclusively displays Binance services compliant with UK regulations.
Binance’s dedication to aligning with the UK’s dynamic financial marketing regulations was emphasized in a blog post dated October 6, a mere two days prior to the introduction of the new rules. Earlier, in June, the UK’s Financial Conduct Authority (FCA) announced a comprehensive update to the marketing regulations related to crypto assets. The primary aim? To ensure prospective investors are adequately informed about the risks associated with digital assets and to curb misleading crypto advertisements and alluring promotional tactics, like referral bonuses.
The domain www.binance.com/en-GB will only permit access to services that align with the imminent marketing guidelines. This includes offerings such as fiat and crypto exchanges, spot trading, margin trading, Binance Pay, and crypto lending. However, certain services, including Binance gift cards, academy, research, feed, and referral bonuses, will remain inaccessible to UK patrons.
Further solidifying its pledge, Binance has also teamed up with Rebuildingsociety.com Limited, a firm endorsed by the FCA, to supervise the validation of its promotional and marketing materials. In a July statement, the FCA elucidated the permissible methods for crypto businesses to operate under its new advertising framework, highlighting the approved channels for marketing financial services to the UK populace.
Binance appears to have adopted one such method, which entails promotions approved by an entity recognized by the FCA.
