Why is Binance banned in some countries?

Binance is banned or restricted in some countries mainly because regulators say it offered services to their residents without the licence or registration local law requires. Some cases also involve weak anti-money-laundering checks. The details differ by country, and in some places, such as India, Binance has since registered with the authorities.

Why is Binance banned in the US?

The global exchange, Binance.com, does not serve US customers. Binance said in 2019 that it would block US users and launched Binance.US for them, but the Justice Department found it kept many US customers anyway. In November 2023 Binance pleaded guilty to failing to register as a money transmitting business, breaking the Bank Secrecy Act and violating sanctions law. It agreed to pay about $4.3 billion. The DOJ said Binance allowed more than $898 million in trades between US users and users in Iran. The separate US platform is explained in Binance vs Binance.US.

Why is Binance banned in the UK and Canada?

In the UK, Binance is not formally banned, but it is not licensed. In June 2021 the FCA said Binance Markets Limited could not carry out regulated activities without its consent. In its June 2023 update, the FCA said no Binance Group entity held UK authorisation or registration. Binance stopped accepting new UK customers in October 2023 after tighter crypto advertising rules. In August 2026, The Telegraph reported that Binance planned to apply under the FCA's new regime, crypto.news said, though Binance had not confirmed a filing. The regime is outlined in who regulates crypto in the UK.

In Canada, Binance announced in May 2023 that it would leave, saying new rules on stablecoins and investor limits made the market no longer tenable. In May 2024, FINTRAC, Canada's financial intelligence agency, fined Binance Holdings $6,002,000 for not registering as a foreign money services business and not reporting large crypto transfers. Binance is not on the Canadian Securities Administrators' list of platforms authorised to serve Canadians. See how crypto is regulated in Canada.

Why is Binance banned in the Philippines?

The Philippines Securities and Exchange Commission warned the public about Binance in November 2023. In March 2024 it asked the National Telecommunications Commission to block Binance's websites, and the NTC told internet providers to do so, The Philippine Star reported. The SEC said Binance had no licence to solicit investments or run an exchange under the Securities Regulation Code, and that it targeted Filipinos through social media promotions.

Why was Binance banned in India?

India did not ban Binance outright. In December 2023, the Financial Intelligence Unit (FIU-IND) sent show-cause notices to Binance and other offshore exchanges for serving Indian users without meeting money laundering obligations. In June 2024 the FIU fined Binance Rs 18.82 crore, about a month after approving its registration, Entrackr reported. The wider framework is in how crypto is regulated in India.

Rules differ by country and change often. Check the regulator or a qualified professional for your own situation.