No, Binance is not FCA-authorised or FCA-registered in the UK as of July 2026. Its UK subsidiary, Binance Markets Limited, had its FCA permissions cancelled at the firm's own request, effective 30 May 2023, and the FCA has stated that no entity in the Binance Group holds any UK authorisation, registration or licence for regulated activity. UK residents can still reach Binance's global platform, which is not blocked outright, but doing so falls outside FCA-regulated financial-promotion protections, and the exchange is currently the subject of a reported approximately £150 million High Court group claim in London over historic derivatives sales to UK retail customers. FCA-registered alternatives serving the UK include Coinbase, Kraken and Bitstamp. This is information, not financial advice.
Binance's FCA status, in plain terms
Binance has never held a full FCA authorisation to carry out regulated financial activities in the UK. Its only UK-registered entity, Binance Markets Limited (BML), was refused registration under the UK's cryptoasset anti-money-laundering regime back in 2021, and in June 2023 the FCA confirmed it had cancelled BML's remaining permissions at the firm's own request, since BML said it had never used them. From that point on, no company in the Binance corporate group has held any form of UK authorisation, registration or licence to conduct regulated activity, according to the FCA's own consumer warning on Binance Markets Limited and the Binance Group.
Practically, this means Binance sits outside the two parallel UK crypto regimes: it is not on the FCA's cryptoasset AML register (the temporary regime that has covered exchanges since 2020), and it has not applied for the incoming full FSMA authorisation regime, applications for which open 30 September 2026. Being outside both regimes does not make using Binance illegal for a UK consumer, but it does mean none of the consumer protections tied to FCA authorisation — such as the Financial Ombudsman Service or FSCS-style safeguards — apply to a UK user's balance on the platform.
What UK users can and can't do on Binance today
Binance's global platform (binance.com) remains reachable from the UK and is not subject to a blanket UK access ban. However, because Binance has no FCA authorisation, it cannot lawfully make financial promotions to UK consumers — the FCA's tightened financial-promotions regime for cryptoassets, in force since October 2023, restricts how any unauthorised firm can market crypto products, including via UK-facing apps, ads or referral schemes. Reports indicate Binance has restricted or removed some UK-facing marketing and product features as a result.
The clearest illustrated risk is retrospective: nearly 1,700 UK claimants have reportedly filed a group claim exceeding £150 million at the London High Court against Binance Holdings, an affiliated Nest Exchange entity, and Binance founder Changpeng Zhao, alleging that leveraged derivatives products (futures, options and margin tokens) were sold to UK retail customers without the required UK authorisation, dating back to around September 2019. Under the Financial Services and Markets Act, agreements arranged by an unauthorised firm can potentially be ruled unenforceable — which is the legal theory behind the claim. Verify the live status and outcome of this litigation before treating it as settled, as court proceedings were still active as of mid-2026.
The EU picture adds context
Binance's UK gap mirrors, and is compounded by, its EU position. The EU's MiCA transitional period for crypto-asset service providers ended across the whole bloc on 1 July 2026 with no extension, meaning any exchange serving EU clients without a CASP authorisation from a national regulator is now operating in breach of EU law. Binance reportedly withdrew its CASP application in Greece in June 2026 and, as of 1 July 2026, halted new orders, deposits and staking for EU users while keeping withdrawals open, with the company stating an intention to re-apply for authorisation.
None of this changes Binance's separate FCA status directly, since MiCA is an EU regime and the UK runs its own parallel framework post-Brexit. But it is relevant context for any UK-based user who also has EU exposure via the same Binance account, and it underscores that Binance's regulatory footprint across both major Western markets is currently unresolved rather than settled.
FCA-registered alternatives for UK users
For UK users who want an exchange with a live FCA cryptoasset registration, three of the larger global platforms currently hold one: Coinbase (via CB Payments Ltd, FRN 900635), Kraken (via Payward Ltd, FRN 928768) and Bitstamp (via Bitstamp UK Ltd, FRN 978690 — reportedly the first firm ever registered under the UK's cryptoasset AML regime). Crypto.com (via Foris DAX UK Ltd) and Bitpanda, which relaunched its UK registration in August 2025, are also on the FCA's register as of mid-2026.
FCA registration under the current AML/CTF regime is not the same as full FSMA authorisation — it does not itself confer Financial Ombudsman or FSCS protection — but it does mean the firm has been vetted for anti-money-laundering compliance and appears on the FCA's public register, which is independently checkable. Always confirm a firm's registration is live by searching its name directly on the FCA Register before depositing funds, since status can change.
- Coinbase — CB Payments Ltd, FCA-registered, FRN 900635
- Kraken — Payward Ltd, FCA-registered, FRN 928768
- Bitstamp — Bitstamp UK Ltd, FCA-registered, FRN 978690
- Crypto.com — Foris DAX UK Ltd, FCA-registered
- Bitpanda — FCA-registered (UK registration relaunched August 2025)
What's changing next: the FSMA regime
The UK is in the middle of replacing its temporary cryptoasset AML registration regime with a full FSMA authorisation regime, comparable in weight to authorisation for a bank or investment firm. The FCA finalised the rules in June 2026; applications open on 30 September 2026 and close 28 February 2027, with the mandatory regime taking effect from 25 October 2027. Any exchange wanting to serve UK retail customers lawfully after that date will need full FSMA authorisation, not just AML registration.
This is a meaningful widening of the gap for firms like Binance that currently hold neither status: unless it applies and is approved within that window, its position in the UK would become even less compliant relative to competitors once the FSMA regime becomes mandatory. UK users should treat the current period as transitional and re-check exchange status again nearer late 2027.
Frequently asked questions
Is it illegal for a UK resident to use Binance?
Using Binance's global platform from the UK is not itself a criminal offence for the individual user, since Binance is not subject to a UK access block. However, Binance has no FCA authorisation or registration, so a UK user gets none of the protections tied to FCA-regulated firms, and Binance itself is restricted in how it can market to UK consumers under the FCA's financial-promotions regime. Treat this as a use-at-your-own-risk situation rather than a clear legal green light.
Did the FCA ban Binance in the UK?
Not exactly. The FCA refused to register Binance Markets Limited under the cryptoasset AML regime in 2021, and Binance Markets Limited's remaining FCA permissions were cancelled at its own request in May 2023. That leaves Binance without any UK authorisation or registration, which is functionally close to a ban on regulated activity, though the global Binance platform itself has not been blocked at the network level in the way some other unauthorised firms' domains have been.
What is the £150 million Binance UK lawsuit about?
Reports from July 2026 describe a London High Court group claim by roughly 1,700 UK claimants against Binance Holdings, an affiliated Nest Exchange entity, and Binance founder Changpeng Zhao, seeking at least £150 million. The claim reportedly alleges Binance sold leveraged derivatives — futures, options and margin products — to UK retail customers without the required UK authorisation, potentially making those agreements unenforceable under UK financial services law. Verify the current status of this litigation independently, as claims of this size typically take years to resolve.
Which exchanges are FCA-registered in the UK instead of Binance?
As of mid-2026, Coinbase (CB Payments Ltd), Kraken (Payward Ltd) and Bitstamp (Bitstamp UK Ltd) all hold live FCA cryptoasset AML registrations, along with Crypto.com (Foris DAX UK Ltd) and Bitpanda. Always re-verify on the FCA Register directly, since registrations can be added, suspended or withdrawn.
Will the new UK FSMA crypto regime change Binance's status?
It could, but only if Binance applies and is approved. The FCA's full FSMA authorisation regime for cryptoassets opens for applications on 30 September 2026 and becomes mandatory from 25 October 2027. Any firm — including Binance — would need to secure FSMA authorisation by then to serve UK retail customers on a fully compliant footing. As of July 2026 there is no public record of a Binance FSMA application; check the FCA Register closer to the 2027 deadline.
Sources & further reading
- FCA — Registered Cryptoasset Firms (public register)
- FCA — Consumer warning on Binance Markets Limited and the Binance Group
- FCA — A new regime for cryptoasset regulation (FSMA authorisation timeline)
- FCA — Cryptoassets: AML/CTF regime overview
- ESMA — Markets in Crypto-Assets Regulation (MiCA) overview
- CoinDesk — UK Financial Watchdog FCA Cancels Binance Permissions on Firm's Request (19/06/2023)
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