Crypto firm Binance has stopped accepting new UK clients because of the new rules for crypto advertising. The UK Financial Promotions Regime for qualifying cryptoassets came into effect on 8 October 2023. These new rules allow unregulated overseas firms, like Binance, to promote their cryptoasset businesses in the UK by engaging with a firm authorised by the Financial Conduct Authority (FCA). Binance engaged Rebuildingsociety.com Ltd (‘REBS’), to review and approve its UK financial promotions. On 10 October, the FCA imposed requirements on REBS, which meant that REBS was no longer able to approve financial promotions ... (full story)