Summary
Binance, the world’s largest cryptocurrency exchange, is facing challenges in re-entering the UK market due to reluctance among local partners. Several UK firms with regulatory permission to approve communications between crypto platforms and clients have rejected requests from Binance, citing regulatory opposition.
Key Points
1. Binance Holdings Ltd. is facing challenges in re-entering the UK market due to regulatory opposition and reluctance among potential local partners to collaborate with the cryptocurrency exchange.
2. Several UK firms, authorized to approve communications between crypto platforms and their clients, have declined Binance’s requests in recent months, affecting its efforts to establish a presence in the UK market.
3. The anonymous sources highlight the difficulties Binance is currently facing in finding suitable partners in the UK, which is hindering its plans to expand operations and services in the country.