Binance Push to Re-Enter UK Thwarted by Regulatory Opposition

Binance Holdings Ltd.’s efforts to re-enter the UK market are being frustrated by reluctance among prospective local partners to work with the world’s biggest cryptocurrency exchange amid regulatory opposition.

At least three UK firms with regulatory permission to approve communications between crypto platforms and their clients have rebuffed requests from Binance in recent months, people with knowledge of the matter said, requesting anonymity to discuss private deliberations.

The rejections came after the UK’s Financial Conduct Authority expressed concern to several of the authorized businesses that inquired about working with Binance, two of the people said.

The FCA’s stance illustrates ...