After a partnership with a third party to approve communications on its platform under new local rules was terminated by the country’s watchdog.
Binance has suspended access to its crypto exchange for new users based in the UK, after a partnership with a third party to approve communications on its platform under new local rules was terminated by the country’s watchdog. Any customers based in the UK not already signed up to Binance’s platform were no longer able to join the exchange from 5 p.m. in London on Monday, according to a blog post published by Binance.
Binance had hired peer-to-peer lending platform Rebuildingsociety.com to approve its communications made to UK-based customers, which includes all text on its website and app. The UK’s Financial Conduct Authority restricted Rebuildingsociety.com’s ability to approve communications for crypto companies on Tuesday, ordering it to retract all existing approvals by 5 p.m. in London on October 11.
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