Despite a previous ban by the UK’s Financial Conduct Authority (FCA), Binance is looking to re-enter the UK market. Binance, the world’s largest cryptocurrency exchange, CEO Changpeng Zhao said the exchange is planning to expand to the United Kingdom in the next six to 18 months despite being instructed by the country’s authorities.

Shortly after the UK’s Financial Conduct Authority (FCA) banned Binance, its CEO shared expansion plans into the UK. Chief Executive Officer of Binance Changpeng Zhao has decided to expand in the UK in the upcoming 6-18 months, notwithstanding the instructions by the nation’s Binance.

Why the change of heart? While Binance, the world’s largest cryptocurrency exchange, has stopped accepting new customers in the UK after regulators cracked down on digital assets companies, Binance remains determined to operate in the region. The authorities banned Binance’s then partner Rebuildingsociety.com (REBS) from operating in the region, leading to the exchange’s exit. Now, Binance is looking to re-establish its presence.

Binance Markets Limited has recently submitted a cancellation request of their FCA permissions which was completed on and is reflected on the FCA. This strategic move seemingly paves the way for a fresh start. Is this a bold strategy or a calculated risk? Only time will tell if Binance can successfully navigate the UK's regulatory landscape and regain its foothold in this key market.