According to reports, Binance plans to submit an application after the FCA's new cryptocurrency licensing window opens, aiming to restore some services for UK residents by 2027; a Binance spokesperson did not comment on the plan.

The FCA's authorization application window is from September 30, 2026, to February 28, 2027. Approved companies can start or continue regulated crypto operations when the new system officially takes effect on October 25, 2027.

The new system covers trading platforms, intermediaries, custodians, stablecoin issuers, and companies providing staking services. Existing anti-money laundering registrations will not automatically convert to the new license, and companies must reapply for FCA authorization.

The FCA stated that the new framework sets standards similar to other UK financial service providers based on the principle of "same risk, same regulatory outcome" in terms of capital resilience, stress testing, market abuse prevention, and consumer protection.

In 2021, the FCA required Binance Markets Limited to cease any regulated activities in the UK; this UK entity subsequently applied to cancel its FCA permissions and completed the deregistration on May 30, 2023, after which it no longer had FCA authorization.

After the tightening of UK financial promotion rules in October 2023, Binance suspended the acceptance of new users in the UK. Existing users who had completed investor declarations and suitability tests could retain some services but could not use new products or services.

In market mechanisms, the new UK license transforms compliance capabilities into entry barriers for exchanges to access local retail, custody, staking, and institutional client markets. If Binance is approved, it can compete for trading volume, fiat channels, and asset custody needs from UK users; however, it must bear the costs of local entities, capital requirements, customer protection, market monitoring, and ongoing reporting. Platforms that do not obtain a license or do not apply will face pressure to cease new business or exit the UK market.

Source: Public Information