Binance Targets UK Re-Entry Via Formal FCA License Application

A Long Road Back to Britain

@Binance is preparing to seek formal authorisation from the UK Financial Conduct Authority (FCA), positioning itself to re-enter the British market after years on the sidelines. The exchange's FCA authorisation was pulled in June 2021, and any unused permissions were formally cancelled in June 2023. From October 2023, Binance stopped accepting new UK users after its financial promotions approver lost the ability to act on its behalf, cutting off a key route to British customers.

The world's largest cryptocurrency exchange by trading volume is now eyeing a comeback in Britain, and the timing is deliberate. A new digital asset framework is coming into force that creates a clear, if demanding, path for exchanges that want to operate legally in the UK.

What the New UK Regime Means for Exchanges

In February 2026, the government introduced the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026, ushering in a new regulatory regime for cryptoassets. The FCA then published Policy Statement PS26/9 on 30 June 2026, completing the core rules and guidance for the UK mandatory cryptoasset authorisation regime.

The application window is due to open on 30 September 2026 for a five-month period. Firms that apply for authorisation during this period will benefit from a transitional regime under which they can engage in regulated activities while their application is assessed. The window closes on 28 February 2027, and any firm that misses it will be required to halt operations until it secures approval.

All firms, including those already registered under anti-money laundering regulations or authorised to provide payment services, will need to obtain FCA authorisation, as there will be no automatic conversion. The full regime goes live on 25 October 2027, at which point full authorisation becomes mandatory.

For Binance, a successful FCA application would mark one of its most significant regulatory milestones in years, reopening access to one of Europe's largest retail crypto markets. The outcome will also be watched closely as a signal of how global exchanges fare under what is shaping up to be one of the most detailed crypto licensing frameworks anywhere in the world.

Sources:
Crypto Briefing: Binance Plans Return to UK Market
Farrer & Co: UK Cryptoasset Regulation, FCA Rules from 2027
Fintech Global: FCA Unveils Full Digital Assets Regime