Major cryptocurrency exchanges Binance and OKX have announced their plans to comply with new financial promotion regulations in the United Kingdom. The Financial Conduct Authority (FCA) implemented the country’s new Financial Promotions (FinProm) Regime on October 8th, aiming to ensure fair and transparent crypto promotions. Binance has launched a new domain for UK users and partnered with the local peer-to-peer lending platform Rebuildingsociety. Retail users in the UK will be redirected to a localized domain that only displays Binance products and services permitted under UK regulations. However, certain products like gift cards and referral bonuses will no longer be offered. OKX has also taken steps to comply with the new regulations, reducing its token offering and implementing eye-catching risk warnings on its interface. The exchange has created a dedicated UK account on social media platform X to communicate its compliant products and services. MoonPay, a crypto payment service, is also working towards compliance. According to MoonPay’s deputy general counsel, ensuring compliance with the new rules is challenging due to operating globally. The FCA has issued warnings to several crypto firms, including KuCoin and HTX, for potentially promoting their services without permission. These firms, along with 141 others, have been listed as “non-authorized firms” that are not allowed to operate in the UK.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries	🇬🇧
Sentiment	neutral
Relevance Score	6
People	None
Companies	OKX, Financial Conduct Authority (FCA), Binance, Rebuildingsociety, MoonPay
Currencies	Bitcoin, Ethereum
Securities	None