Binance reportedly plans to apply for a license from the Financial Conduct Authority (FCA) as it seeks to expand its operations in the UK again. If approved, the world’s largest cryptocurrency exchange could relaunch some services in the country in 2027.
Binance has yet to confirm the plan. A company spokesperson said the exchange does not comment on speculation concerning potential license applications.
Binance could apply for an FCA license
According to The Telegraph, Binance is preparing to apply for authorization under the UK’s new cryptoasset regulatory framework. A successful application could allow the company to return to the British market following years of regulatory difficulties.
The FCA will accept license applications from crypto companies between September 30, 2026, and February 28, 2027. The new mandatory regulatory regime will take effect on October 25, 2027.
Submitting an application would not guarantee Binance’s approval. The FCA will examine the company’s financial structure, management team, customer asset protection systems and anti-money laundering controls.
Binance did not directly confirm the reported plan. A spokesperson said the company does not comment on speculation surrounding potential license applications.
Why did Binance restrict its UK operations?
Regulatory problems between Binance and British authorities became more visible in 2021. The FCA said Binance Markets Limited could not conduct regulated activities in the UK without the regulator’s prior written consent.
At the time, the FCA said no other Binance Group entity held the authorization required to provide regulated services in the country. Binance Markets Limited later requested the cancellation of its existing permissions, a process completed in May 2023.
Binance also stopped accepting new UK customers in October 2023. The decision followed the introduction of stricter FCA rules governing financial promotions by crypto companies.
The rules required crypto promotions targeting British consumers to receive approval from an FCA-authorized company. Binance suspended new customer registrations after the regulator restricted the local company responsible for approving its promotions.
What does the UK’s new crypto framework require?
The UK is preparing to bring the cryptocurrency industry under comprehensive FCA supervision. Legislation adopted in February 2026 expanded the regulator’s authority to cover cryptoassets.
Under the rules announced by the FCA in June, crypto exchanges, intermediaries, custodians, stablecoin issuers and companies arranging staking services will need authorization.
Companies must maintain adequate capital and conduct stress tests against difficult market conditions. They will also need systems designed to prevent misconduct such as insider trading and market manipulation.
The FCA intends to hold crypto companies to standards similar to those applied to traditional financial institutions. However, the regulator has stressed that authorization cannot eliminate the price volatility and risk of losses associated with crypto investments.
Companies applying during the designated window may benefit from transitional provisions while the FCA reviews their applications. Firms that miss the deadline could lose the ability to serve new UK customers once the regime takes effect.
Why would FCA approval matter for Binance?
The UK represents an important market for Binance because of its large financial sector and substantial retail crypto participation. An FCA license could allow the exchange to accept new customers and provide a broader range of regulated services.
Approval could also support Binance’s efforts to rebuild its relationships with regulators around the world. The company has expanded its compliance team in recent years and increasingly relies on local licenses to operate in individual markets.
However, Binance’s previous regulatory problems will likely receive attention during the application process. In 2022, the FCA said the company’s complex global structure made effective supervision more difficult.
Binance’s return to the UK will therefore depend on more than submitting an application. The exchange will need to show that it meets the new regime’s requirements covering capital, governance, customer protection and financial crime controls.
