Binance, the largest crypto exchange, is preparing for a potential return to the UK market. The cryptocurrency exchange is expected to seek authorization under the country’s upcoming crypto regulatory framework. Financial Conduct Authority (FCA) will start receiving applications for the new regime on September 30, 2026. This will give Binance an opportunity to pursue regulatory approval after previously facing restrictions in the UK.

This move comes about 5 years after the FCA warned Binance Markets Limited that it could not conduct regulated activities in the UK. Binance’s potential re-entry would give UK’s 4.5 million crypto users an opportunity to use the top crypto exchange.

Binance Faces Stricter FCA Requirements

The FCA’s new cryptoasset regime is scheduled to take effect on October 25, 2027. This will take effect under the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026. Platforms carrying out regulated cryptoasset activities will must need FCA authorization under the new framework. The application period is expected to run from September 30, 2026 to February 28, 2027.

The potential UK return highlights the continued importance of the country as a major financial market for global crypto companies. However, submitting an application is not a guarantee of approval. If Binance successfully obtains authorization, the move could mark a significant step in the exchange’s efforts to rebuild its presence in the UK.

FCA Outlines Requirements for UK Crypto License

The FCA has outlined several requirements that applicants must fulfill in order obtain a license. These requirements include demonstrating that their business model is suitable for the proposed activities. The platforms must maintain adequate financial and operational resources. Applicants must also maintain appropriate governance, systems, and controls.

Senior personnel of the applicants will also face fit-and-proper assessments. The personnel must be honesty, integrity, reputation, competence and capability. The FCA additionally expects firms to comply with requirements covering user treatment and market conduct.

For Binance, meeting these requirements would require demonstrating that its compliance infrastructure, governance arrangements and operational systems satisfy the FCA’s standards.

The new framework goes beyond the existing anti-money laundering registration requirements. The FCA of the UK has stated that firms currently registered under the Money Laundering Regulations will still need authorization under the new FSMA regime. Existing registrations will not automatically convert into full authorization.