Binance to halt access to its crypto exchange for new U.K. users

Binance will stop accepting new U.K.-based customers from joining its cryptocurrency exchange starting Monday. The suspension comes as Binance seeks to comply with the country's crypto ad rules, which came into effect on October 8. Under the U.K.'s widened financial promotions regime, all crypto platforms are now required to disclose pre-approved risk warnings clearly to customers as well as meet higher technical standards. Binance said it hired peer-to-peer lending platform Rebuildingsociety.com to approve its promos and ads made to customers in the U.K. But the Financial Conduct Authority recently prohibited the platform from approving communications for crypto firms, according to the blog post. "We are working closely with the FCA to ensure that our users are not harmed by these developments and are looking to find another suitable FCA authorized firm to approve our financial promotions as soon as possible," the exchange said . More on Binance Binance sells Russia operations to new crypto exchange CommEX Binance reopens registrations, product access in Belgium