Is Binance legal in the UK? As of 14 October 2026, Binance is not authorised, registered or licensed by the UK Financial Conduct Authority (FCA). The FCA says no entity in the Binance Group holds any UK authorisation, and Binance’s own UK pages say neither the firm nor cryptoassets are FCA regulated or covered by the Financial Ombudsman Service or the FSCS.
Holding crypto on Binance is not an offence for you under the FCA material checked, and Binance lists the UK as a region where its app is available, but it has not accepted new UK users since 16 October 2023. Binance was reported in August 2026 to be planning an application under the FCA’s new crypto regime, whose application window runs from 30 September 2026 to 28 February 2027, with the regime starting on 25 October 2027.
If you live in the UK and have a Binance account, or are wondering whether you can open one, the answers online contradict each other. Some pages say Binance is “banned”, VPN sellers say it is “legal”, and some AI summaries say it is unauthorised but partly accessible.
The confusion comes from mixing two different questions: is it legal for you to use Binance, and is Binance allowed by the FCA to serve you? This guide answers both with the FCA’s own notices and Binance’s own UK statements, sets out the timeline from the 2021 warning to the 2026 licence plans, explains what the new UK crypto regime changes, and covers what you can practically do now.
Is Binance legal in the UK?
It depends which “legal” you mean. As of 14 October 2026:
- Is Binance authorised by the FCA? No. The FCA’s consumer warning on Binance (first published 26 June 2021, last updated 7 June 2023) states that “No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity” after Binance Markets Limited’s permissions were cancelled on 30 May 2023.
- Is it illegal for you to have a Binance account? None of the FCA pages checked for this article make holding an account an offence for a consumer. The FCA’s consumer guidance (last updated 29 January 2026) describes crypto as “largely unregulated in the UK” and says the marketing of crypto is regulated. The rules sit on the firm, not on you.
- Does Binance still serve UK users? Partly. Binance’s supported regions list (updated 18 August 2026) shows the United Kingdom as “Available”, while Binance stopped accepting new UK users from 5pm on 16 October 2023 and no later notice reversing that was found when checked.
So the short, accurate answer is: using Binance is not a crime for you, but Binance has no UK authorisation, and you get none of the protections that come with an FCA-authorised firm.
Is Binance banned in the UK?
Not in the sense of a law that blocks it, and that is why the word causes so much confusion. What actually happened is a series of regulatory steps, with the 2021 FCA action widely reported as a “ban”.
| Date | What happened | Source |
|---|---|---|
| 25 June 2021 | FCA imposes requirements on Binance Markets Limited (BML), the group’s UK-authorised entity. BML may not carry on any regulated activity in the UK | FCA consumer warning |
| 26 June 2021 | FCA publishes a consumer warning about BML and the wider Binance Group, noting the group appears to offer UK customers products through Binance.com | FCA consumer warning |
| 30 May 2023 | Cancellation of BML’s FCA permissions completed at the firm’s request. No Binance entity holds UK authorisation or registration | FCA consumer warning, updated 7 June 2023 |
| 8 October 2023 | UK financial promotions regime for cryptoassets takes effect. Binance’s UK promotions were approved by Rebuildingsociety.com Ltd (REBS), an FCA-authorised firm | Binance UK blog, 16 October 2023 |
| 10 to 11 October 2023 | REBS is barred from approving promotions on 10 October; its existing approvals are withdrawn from 5pm on 11 October | Binance UK blog, 16 October 2023 |
| 16 October 2023 | Binance stops accepting new UK users from 5pm. Existing users who completed the Investor Declaration and Appropriateness Test keep current services; new products are unavailable | Binance UK blog, 16 October 2023 |
| February 2024 | Bloomberg reports at least three firms Binance approached to approve its UK marketing declined after the FCA raised concerns. Binance disputed that it had been rejected | Bloomberg via CoinDesk, 1 February 2024 |
| 30 June 2026 | FCA publishes final rules for the new cryptoasset regime | FCA press release, 30 June 2026 |
| 30 June to 1 July 2026 | Nearly 1,700 UK investors bring a High Court claim of at least £150 million (about $200 million) against Binance Holdings, Nest Exchange and Changpeng Zhao over derivatives sold to UK retail customers. Binance said it will defend itself | Reuters, as reported by crypto.news, 1 July 2026; The Block |
| 15 to 17 August 2026 | The Telegraph reports Binance plans to apply for FCA authorisation when the new gateway opens | BeInCrypto and crypto.news, citing The Telegraph |
| 30 September 2026 | FCA application gateway opens for the new regime | FCA press release, 30 September 2026 |
All entries checked 14 October 2026. No public FCA decision on any Binance application was found when checked.
Why the FCA acted in 2021
The FCA’s warning explains the formal position: requirements were placed on BML on 25 June 2021, BML could not conduct regulated business in the UK, and the rest of the group had no UK authorisation at all. BeInCrypto’s August 2026 summary quotes the FCA’s 2021 supervisory notice as saying Binance was “not capable of being effectively supervised”. The 2023 financial promotions rules then cut off the route Binance had been using to market to new UK customers.
What “not FCA regulated” means for you
Binance says this itself. Its supported regions page and its UK risk warning carry the line: “Neither the firm nor investments in cryptoassets are regulated by the UK Financial Conduct Authority”, nor covered by the Financial Ombudsman Service, nor subject to protection under the Financial Services Compensation Scheme (checked 14 October 2026). In practice:
| Question | Answer for Binance, as of 14 October 2026 |
|---|---|
| Can you complain to the Financial Ombudsman Service? | No, according to Binance’s own UK disclosure |
| Is there FSCS compensation if Binance fails? | No. The FCA’s consumer guidance says crypto investors are “highly unlikely” to be covered by the FSCS in general |
| Is Binance on the FCA cryptoasset register under the money laundering rules? | No. The FCA says no Binance Group entity holds UK registration |
| Which entities does Binance’s UK risk page name? | Only its Abu Dhabi entities (Nest Exchange Limited, Nest Clearing and Custody Limited, Nest Trading Limited), regulated by the ADGM FSRA, not by the UK |
| Is there an FCA-authorised firm approving Binance’s UK promotions? | None is named on Binance’s UK pages checked for this article |
That last point matters because a dispute would not be handled like a claim against a UK bank or broker. The 2026 group claim is an example: UK investors are suing in the High Court rather than using the Ombudsman. KP Law, which runs the claim, says it covers derivatives losses, not spot trading.
Is Binance Markets Limited the same as Binance?
No. Binance Markets Limited was the group’s UK-authorised entity, and its FCA permissions were cancelled at its own request on 30 May 2023. Binance.com is run by other group entities, and the FCA says none of them holds any UK authorisation, registration or licence.
Can you use Binance in the UK?
If you already have an account
Binance’s 16 October 2023 notice says existing UK users who completed the Investor Declaration and Appropriateness Test keep their current services, but cannot access new products during the interim period. The notice does not list deposits, withdrawals and trading separately, and no later Binance notice changing it was found as of 14 October 2026. If you are unsure what still works on your account, check with Binance support in writing and keep the reply.
Can I withdraw from Binance in the UK?
No UK-specific block on withdrawals for existing users was found as of 14 October 2026: Binance’s 2023 notice says existing users keep their current services. If a withdrawal fails, raise it with Binance support in writing, because there is no UK Ombudsman route if the dispute is not resolved.
One newer restriction is worth knowing about. Binance stopped processing transactions involving HTX and ten other platforms from 23 August 2026. Its public notice did not limit this to any region, though HTX’s founder Justin Sun said Binance told him it applied to UK and EU users; the EU had sanctioned the same 11 platforms and the UK had designated HTX’s owner Huobi Global under its Russia sanctions regime, according to crypto.news (16 August 2026).
If you are a new user
Binance has not accepted new UK users since 16 October 2023, as both Binance’s notice and BeInCrypto’s August 2026 coverage state. Some VPN-affiliate pages recommend connecting through another country. A VPN does not change where you live, and getting an account that way would mean giving the platform a false picture of your location, which can leave you with an account that is restricted or closed later and a dispute you have no UK body to take to. This article does not recommend it.
What can you use instead?
The practical rule is to choose a firm the FCA knows about. The FCA’s cryptoassets information page points to the FCA Register, filtered for cryptoasset firms, as the place to check which crypto firms are registered (checked 14 October 2026). Before you sign up anywhere:
- Search the firm’s exact legal name on the FCA Register and confirm it shows as a registered cryptoasset business or an authorised firm (Kraken’s UK entity is one example, covered in Is Kraken Safe?).
- Check the FCA Warning List for the brand name.
- Read the firm’s UK risk warning. A firm marketing lawfully to UK consumers is expected to show clear risk warnings; the FCA says an offer with no risk warnings plus an incentive to invest may be illegal or a scam.
- Remember that even a registered firm does not bring FSCS cover for crypto.
This site compares exchanges on licences and transparency rather than recommending one. See Coinbase vs Binance and Is Binance Safe? for the evidence on Binance in other jurisdictions.
Is crypto legal in the UK?
Yes. Buying, holding and selling crypto is legal for UK residents as of 14 October 2026. What the UK regulates today is narrower than many people assume. Until the new regime starts, the FCA says its oversight of crypto firms is limited to financial promotions and anti-money laundering controls (FCA press release, 30 June 2026). The FCA’s PS23/6 policy page says the promotions regime applies to all firms marketing cryptoassets to UK consumers, including overseas firms, and lists the restrictions it consulted on: clear risk warnings, a ban on incentives to invest, positive frictions, client categorisation and appropriateness assessments.
What changes under the new UK crypto regime
The UK is moving from a register-and-promotions model to full FCA authorisation for crypto firms. According to the FCA’s gateway press release of 30 September 2026 and its 30 June 2026 final rules announcement:
| Item | Detail (checked 14 October 2026) |
|---|---|
| Who needs authorisation | Trading platforms, intermediaries, custodians, stablecoin issuers and firms arranging staking |
| Application window | 30 September 2026 to 28 February 2027 |
| Regime starts | 25 October 2027 (the FCA says “expected to come into force”) |
| Firms that apply in the window | If no decision is made before 25 October 2027, existing firms that applied during the window can keep providing services, including new business, while the FCA assesses them |
| Firms that fall short | “Will not be able to continue offering regulated cryptoasset services in the UK.” Authorisation “is not automatic” |
| Standards | Consumer protection, safeguarding of customer assets, market integrity rules (insider dealing, manipulation) and financial resilience including capital |
Will Binance come back to the UK?
Nobody can say yet. The Telegraph reported on 15 August 2026 that Binance plans to apply once the gateway opened, as summarised by BeInCrypto and crypto.news. Crypto.news noted that Binance had not publicly confirmed which entity would apply or which services it would seek.
BeInCrypto cites FCA freedom of information data showing that of 273 crypto registration applications between January 2020 and May 2022, 35 were approved and 139 were withdrawn before a decision. That old register is not the same test as the new regime, but it shows approval has been hard to get. Until the FCA publishes a decision, treat any claim that Binance “is now FCA approved” as false.
How Binance trades are taxed in the UK (in brief)
Using an unauthorised exchange does not change your tax. GOV.UK lists Capital Gains Tax rates for 2026-27 of 18% on gains within the basic rate band (£37,700) and 24% above it, after a £3,000 tax-free allowance (checked 14 October 2026). Swapping one token for another on Binance is a disposal, not just cashing out to pounds. Keep your own transaction records, since you work out your gains yourself. The full walkthrough, including the 2026 reporting rules, is in Crypto Tax in the UK. This is general information, not tax advice; confirm your position with a qualified tax adviser before filing.
Is Binance safe for UK users?
Legal status and safety are separate questions. For a UK user the specific risks are clear: no FCA authorisation, no Ombudsman, no FSCS, your account sitting with an overseas group entity, a frozen product set since October 2023, and an active £150 million group claim in the High Court over past derivatives sales. Binance’s wider record, including its 2023 US plea, licences elsewhere and proof of reserves, is covered in Is Binance Safe?. For a different regulator’s approach to the same exchange, see Is Binance Legal in India?, where Binance is registered with the local anti-money laundering authority.
If you run a crypto business serving UK customers
Binance’s UK history is the clearest example of how the rules bite: losing the promotions approver in October 2023 was enough to stop new customer onboarding within a week. If you serve UK consumers, the immediate questions are whether your promotions are communicated or approved lawfully and whether you need to apply in the window that closes on 28 February 2027 to rely on the transitional arrangements. The KYC/AML & Compliance section covers providers that handle this work.
What this means for you
As of 14 October 2026, nothing in the FCA material checked makes it an offence for you to hold crypto on Binance, but Binance is not authorised, registered or licensed by the FCA, and you have no Ombudsman or FSCS route if something goes wrong. New UK users cannot sign up, and existing users keep only the services they had in October 2023. The next real change would be an FCA decision on any Binance application under the new regime, which is expected to start on 25 October 2027. Until then, check the FCA Register before choosing any platform, keep your own records for HMRC, and treat headlines about Binance “returning” as plans, not approvals.
For more on exchanges, browse the Exchanges section and read how this site assesses providers in its methodology.
This guide is general information, not legal advice. Licensing requirements change and depend on your structure; take advice from a regulated lawyer before acting. See the site’s disclaimer.
