Binance, which is the largest crypto exchange in the world, has reportedly approached multiple companies with the necessary permissions from the Financial Conduct Authority (FCA) to promote cryptocurrency services. However, these companies have declined to partner with Binance thus far.
Concerns raised by the FCA regarding these companies’ potential collaboration with Binance are said to be the reason behind their refusal. The FCA has chosen not to comment on the matter to the media.
Although facing setbacks, Binance has confirmed ongoing negotiations with various potential partners and has promised to share positive developments in the near future.
This comes after Binance faced legal action from three Israeli families affected by a Hamas attack on Israel back in October 2023.