In a blog post, Binance announced that it will halt the onboarding of new users from a specific region, starting Monday. This decision is a setback for Binance's goal of global dominance as it temporarily withdraws from one of its key markets, excluding the United States. The reason behind this move is linked to the financial promotion regulations implemented by the country on October 8. These regulations now encompass cryptocurrency service providers, including exchanges, regardless of their geographical location. Non-compliance with the new regulations can result in severe consequences, such as being listed by the FCA, fines, or even incarceration.