FTX UK

UK Financial Agency Issues Warning Against FTX

20.09.2022 09:28
by Sviatoslav Pinchuk
1 min read

After Binance, UK’s Financial Conduct Authority (FCA) is now targeting another large crypto exchange. Namely, FCA has issued a warning to FTX for offering its service to UK citizens, without first obtaining a proper license.

This piece of news is part of FCA’s ongoing objective to make sure all crypto companies working in the UK are registered and adhere to national regulations. So far, crypto exchanges including Gemini, Kraken, and Galaxy Digital have received FCA’s approval.

FTX’s representative has stated that the exchange is currently trying to resolve the matter with regulators. Interestingly, the representative added that the phone numbers FCA has listed as belonging to FTX, actually, belong to con artists involved in a known crypto scam, and not to FTX. It seems that someone may be impersonating FTX.

Either way, FTX is warned that it risks criminal prosecution if it keeps operating in the UK. It’s yet to be seen if the exchange will have an opportunity to discuss its case with FCA.

Author

  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

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