Learn Concept: Understanding the Impact of Regulatory Changes on Crypto Exchanges

By: Eva Baxter

Regulatory changes in the cryptocurrency realm can have vast impacts on crypto exchanges, such as Binance, often forcing them to adjust their procedures, services, and strategies. This article explores the case of Binance, which recently had to adjust to different regulations set forth by the UK. The company revealed its plan to operate under the newly established UK rules after previously withdrawing from the market. Binance launched a new subpage specifically catered to its UK customers in line with the changes in regional regulations.

Such regulatory changes impose new requirements on crypto companies, sometimes restricting the methods by which they can promote their services. For example, in the case of Binance, UK users can no longer access gift cards, certain reference websites, or gain access to referral bonuses due to these new restrictions. Instead, they have partnered with Rebuildingsociety.com, a firm registered with the FCA, to approve marketing materials under S21 gateway rules.