Binance faces challenges in re-entering UK amid partner concerns
Binance is facing hurdles in its bid to re -enter the U.K. market due to hesitancy from potential local partner s amid concerns from regulatory bodies. According to Bloomberg, which received anonymous reports from people close to the matter, three U.K. entities licensed to liaise between crypto platforms and their clientele have declined Binance’s overtures in the past few months. Under U.K. regulations, Binance must obtain endorsement from a firm sanctioned by the Financial Conduct Authority (FCA) to oversee financial promotions. This ensures that any public communication adheres to the FCA’s stringent guidelines. You might also like: Binance and Hamas connection alleged in major financing lawsuit Despite these setbacks, Binance maintains that its search for a compliant partner is ongoing and not without hope. The company refuted claims of difficulty in partner ing with FCA-approved firms. Binance told Bloomberg that the exchange is actively discussing with prospective