Binance reportedly plans to apply for FCA authorization after the regulator opens its gateway in September, aiming to resume regulated services in the UK by October 2027.
Binance is preparing to apply for authorization from the UK Financial Conduct Authority, aiming to re-enter the British market when the country’s new crypto regime takes effect in October 2027.
The exchange plans to submit an application after the FCA opens its authorization gateway on Sept. 30, according to an Aug. 15 report from The Telegraph. Binance has not publicly confirmed a filing or identified which legal entity would apply.
A successful application would allow Binance to resume regulated services for UK residents under the new framework. Approval is not automatic. The FCA has not said it expects to authorize Binance.
The regulator’s existing restrictions on Binance Markets Limited remain in force. The FCA imposed requirements on that entity in June 2021, preventing it from conducting regulated activities without the regulator’s prior written consent.
The watchdog’s current warning states that no other Binance Group entity holds UK authorization, registration or a license to conduct regulated activities in the country. The FCA previously said Binance Markets Limited was not capable of being effectively supervised, citing the wider group’s structure and its complex, high-risk products.
Binance later withdrew an application to cancel unused UK permissions in 2023. The move left no Binance entity authorized to operate a regulated cryptocurrency business in Britain.
The exchange stopped accepting new UK customers in October 2023 after the FCA introduced expanded financial promotion rules. Binance initially relied on an authorized company, Rebuilding Society, to approve its UK marketing. The FCA later restricted Rebuilding Society’s ability to approve crypto promotions. Binance then announced through an official update that it would pause new registrations while searching for another compliant arrangement.
Britain’s new crypto authorization window runs from Sept. 30, 2026, through Feb. 28, 2027. The full regulatory regime starts on Oct. 25, 2027.
Companies operating in Britain must obtain fresh authorization before providing activities covered by the new framework. Existing registrations under anti-money laundering rules will not convert automatically. Firms that apply within the window may qualify for transitional arrangements while the FCA assesses their applications. Those submitting applications after Feb. 28 will not receive the same protection and may need to stop relevant services until authorization is granted.
The FCA encourages applicants to file early. Its guidance says earlier applications provide more time for assessment and increase the period during which eligible companies can rely on transitional provisions.
An application is not a temporary license. Applicants must satisfy the regulator before receiving permission. Companies cannot assume they will be approved because they met the filing deadline.
The new framework expands the FCA’s oversight beyond financial promotions and anti-money laundering registration. It covers trading platforms, dealing, arranging transactions, custody, staking, lending and certain stablecoin activities.
Authorized companies must follow prudential rules and financial crime controls. They also face operational resilience standards. The framework applies the Consumer Duty and the Senior Managers and Certification Regime to businesses conducting regulated crypto activities.
Trading platforms will face requirements on disclosures and market abuse controls. Asset admission standards also apply. Custodians must meet rules governing client asset ownership, record keeping, reconciliation and private key management.
David Geale, the FCA’s executive director for payments and digital finance, said the regime would hold crypto companies to “similar standards” as other British financial services businesses.
The application review is expected to examine Binance’s governance, ownership and compliance systems. The FCA can reject applicants that fail its minimum threshold or “fit and proper” tests.
Binance has not disclosed which UK services it would seek permission to offer. It also has not said whether a relaunch would cover spot trading, custody, staking or other products.
Binance would enter a market where several competitors already hold FCA registrations under the existing anti-money laundering framework. Coinbase secured permission to offer cryptocurrency services directly through its British entity in February 2025. IG Digital Assets later joined the FCA’s cryptoasset register.
Those registrations do not guarantee authorization under the 2027 framework. Every company conducting newly regulated activities must submit a fresh application or request a variation of its existing permissions.
Binance’s UK effort follows regulatory setbacks elsewhere in Europe. The exchange withdrew its Greek application for authorization under the European Union’s Markets in Crypto Assets regulation in June.
Binance suspended most services for European Union residents after missing the licensing deadline. The company said it remained committed to finding another route into the European market.
The UK process is separate from the EU framework. FCA authorization would only address Binance’s position under British law and would not provide operating rights across the European Union.
The first verifiable development will be Binance’s submission of an application after Sept. 30. Neither the exchange nor the FCA has published an application notice.
The regulator does not guarantee that applications submitted during the window will receive decisions before October 2027. Eligible firms can continue specified activities under transitional provisions while awaiting a determination, provided they satisfy the relevant conditions.
A Binance relaunch would require an affirmative FCA decision and any necessary removal or amendment of existing restrictions on Binance Markets Limited. The legal entity receiving authorization would also need to appear on the FCA register.
Until those steps occur, the reported application remains a plan rather than an approved UK return. Existing consumers should not interpret it as evidence that Binance currently holds an FCA license.
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