News

CEX.IO Resumes UK Operations After Meeting FCA Guidelines

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 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.

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.

Recent Posts

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

32 minutes ago

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

1 hour ago

Crypto Advisory Council Now A White House Position Attracting Leaders

Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…

2 hours ago

Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries

Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…

2 hours ago

SEC Chair Gary Gensler Will Lose Power From January 20

SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…

2 hours ago

MicroStrategy Convertible Notes Now Out of Stock With $3B Raised

The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…

3 hours ago

This website uses cookies.