<\/p>\n
The United Kingdom\u2019s Financial Conduct Authority (FCA) has restricted<\/span><\/a> Binance\u2019s local partner, Rebuildingsociety.com, from approving financial promotion content from an \u2018unauthorized\u2019 persons.<\/p>\n Per information on the regulator\u2019s website, Binance\u2019s UK affilate, Rebuildingsociety.com, must rescind any prior approvals granted to unlicensed entities. The FCA further directed the company to notify its clients that it cannot endorse content from unauthorized individuals or entities and must retract any advertisements promoting its services to approve financial promotions.<\/p>\n Rebuildingsociety.com must obey the above orders by 5 PM BST on Oct. 11. The firm must also write the authorities before Oct. 13, showing that it has complied with these requirements.<\/p>\n Rebuildingsociety.com has yet to reply to CryptoSlate\u2019s<\/em> request for comment as of press time.<\/p>\n On Oct. 6, Binance unveiled<\/a> a dedicated page tailored to its U.K. clientele. Alongside this, the firm announced a strategic collaboration with Rebuildingsociety.com\u2014an FCA-registered firm tasked with ensuring the approval of the exchange\u2019s marketing materials in accordance with local regulations.<\/p>\n Before the announcement, Binance\u2019s U.K. subsidiary had withdrawn<\/a> its FCA registration in June.<\/p>\n While today\u2019s FCA order does not explicitly name Binance, it underscores the exchange\u2019s lack of registration with the authority. Interestingly, the Changpeng Zhao-led crypto exchange does not appear on the regulator\u2019s recent list of 143 unauthorized entities.<\/a><\/p>\n In an Oct. 10 press statement shared with CryptoSlate<\/em>, Binance said its agreement with\u00a0Rebuildingsociety.com was shared with the FCA a week before the commencement of the new regulatory regime.<\/p>\n According to the firm, its dedicated page for its U.K. customers has been built to comply with the detailed requirements of the new regulations. It added:<\/p>\n \u201cThe FCA issued warnings against more than 140 firms for breaches of the Financial Promotions Regime since it was updated on October 8. That Binance is not among these firms is testament to the processes and procedures it has implemented to comply with requirements.\u201d<\/p>\n<\/blockquote>\n Binance declined to comment on the restrictions imposed on its partner.<\/p>\n The post FCA restricts Binance\u2019s UK partner\u2019s ability to approve crypto ads<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The United Kingdom\u2019s Financial Conduct Authority (FCA) has restricted Binance\u2019s local partner, Rebuildingsociety.com, from approving financial promotion content from an \u2018unauthorized\u2019 persons. Per information on the regulator\u2019s website, Binance\u2019s UK affilate, Rebuildingsociety.com, must rescind any prior approvals granted to unlicensed entities. The FCA further directed the company to notify its clients that it cannot endorse […]<\/p>\n","protected":false},"author":2,"featured_media":171656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-171655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/171655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=171655"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/171655\/revisions"}],"predecessor-version":[{"id":171657,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/171655\/revisions\/171657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/171656"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=171655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=171655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=171655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Does this affect Binance?<\/h2>\n
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