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News

CEX.IO Resumes UK Operations After Meeting FCA Guidelines

September 12, 2024 - Around 2 mins mins to read

Key points

  • Crypto exchange CEX.IO has resumed operations in the UK, with its registration process now meeting the financial regulator’s guidelines.
  • CEX.IO joins Nexo in collaborating with FCA-authorized and regulated financial promotion approver Gateway 21 to facilitate the return.
CEX.IO resumes UK operations after meeting FCA compliance. The exchange plans to re-establish the UK as a key market with 190 digital assets available for users.
CEX.IO Resumes UK Operations After Meeting FCA Guidelines

CEX.IO Resumes UK Operations After FCA Compliance

CEX.IO has officially resumed operations in the UK after voluntarily suspending services due to the FCA’s new crypto asset promotion regulations. The UK is CEX.IO’s primary market, accounting for 69% of its European Economic Area customers. Now back in business, the exchange offers 190 digital assets to UK users, aiming to regain its strong regional presence.

The company also strongly emphasizes strict regulatory compliance, holding 40 licenses globally and boasting a history of no security breaches or legal conflicts with regulators. CEX.IO’s return to the UK market is facilitated by its partnership with Gateway 21, an FCA-authorized promotion approval agent, ensuring full compliance with UK financial promotion rules.

Read more: FDIC Denies Money Insurance For Cryptocurrency Exchange CEX.IO

The Impact of FCA Regulations on CEX.IO’s UK Operations

CEX.IO’s re-entry into the UK market highlights the changing regulatory landscape for crypto companies, especially after the FCA introduced stricter rules for crypto asset promotions. These include mandatory investor questionnaires and a cooling-off period for UK customers. The FCA has issued more than 450 warnings about non-compliant crypto promotions since the new rules came into effect in October 2023.

CEX.IO has partnered with Gateway 21, a regulated financial promotions approval body to ensure compliance. Such partnerships are becoming more common as companies like Nexo and Binance also seek FCA-approved intermediaries to navigate the UK’s strict crypto regulations.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

CEX.io

FCA

Gateway 21

UK

Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.