Binance, OKX Adjust Crypto Operations to Comply With UK FCA’s New Regime

Binance, one of the largest cryptocurrency exchanges in the world, has announced that it is making changes to its operations to comply with UK Financial Conduct Authority (FCA) regulations. Binance’s UK arm, Binance.UK, has announced that it has suspended its onboarding of new users and will no longer offer certain crypto assets, in order to comply with the new UK crypto regulations released in early 2018. Additionally, OKX, a popular Asian exchange, has also announced that it would be making changes in order to comply with FCA regulations.


The FCA recently updated its regulations regarding crypto assets, requiring that all UK-based exchanges adhere to new guidelines when it comes to storing customer funds, reporting suspicious cryptocurrency transactions, and making sure customers are identified when using the exchange. Binance and OKX have both responded by suspending onboarding of new customers and curtailing activities connected to certain crypto assets, in order to ensure compliance with these updated regulations.

Both Binance and OKX are taking measures to ensure that their customers’ personal information are securely stored and that their activities follow the rules set by the FCA. This is a crucial step for these exchanges to remain operational in the UK, and is a positive news for crypto users in the region, as it will help ensure that exchanges continue to provide safe and secure trading services.

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