According to CoinMeta, and as reported by the UK's Daily Telegraph, Binance is planning to apply for a crypto licensing from the Financial Conduct Authority (FCA) in the UK in accordance with new regulations that will come into effect next year, with the aim of returning to the UK market after several years. The new regulations require crypto exchanges to establish a physical presence in the UK, demonstrate sufficient compliance resources, and pass an "appropriateness" test. The licensing application is expected to be open next month, and the new regulations will officially take effect in October 2027. Binance intends to set up a board of directors in the UK for this purpose. In 2021, the FCA prohibited Binance's UK entity from conducting regulated business, stating that it "could not be effectively regulated." In 2023, Binance was also restricted from conducting financial promotions through UK partners, which prevented it from recruiting new customers locally.