Binance Asks For Permission to Operate in the UK

The Financial Conduct Authority (FCA) banned Binance from the UK in June. Now, the exchange is planning to establish itself in the UK by hiring employees and re-applying for approval, says CEO Changpeng Zhao (CZ).

He says that the exchange is very much interested in operating in the UK, by being completely licensed by the regulatory bodies.

The plan is to set up a Binance.UK branch, along with it’s headquarters, which will be the counterpart of Binance.US. This is to ensure that the exchange is properly regulated. Most of the recent hires will be aware of the regulations and compliance laws.