As a seasoned crypto investor with roots deep in the U.K., I can’t help but feel a sense of relief and anticipation upon hearing about CEX.IO’s resumption of operations in my home country after a long hiatus. Having navigated through numerous regulatory hurdles myself, I understand the importance of adhering to strict guidelines and ensuring the safety of users’ funds.
After a 10-month pause, CEX.IO is once again active in the United Kingdom, with a renewed emphasis on adhering to regulations set by the Financial Conduct Authority (FCA).
10 months after temporarily halting operations due to new financial promotion regulations in the UK, Crypto exchange CEX.IO has now resumed its activities. According to a press release published on September 12 and shared with crypto.news, the platform initially paused services following the enforcement of the U.K.’s Financial Promotions Regime policy in October 2023.
Starting in August, both current and future users can now utilize the platform, which has been revamped to adhere to the regulations set by the Financial Conduct Authority. According to CEX.IO, the U.K. is a significant market for them, with local clients accounting for more than two-thirds (69%) of their total European Economic Area clientele as of October 2023.
Over the course of the final four quarters from Q3 2022 through Q2 2023, there was an average increase of 26.9% in transaction volume on the U.K. market each quarter compared to the previous one.
CEX.IO
After resuming operations, our services will provide access to approximately 190 digital resources. Our goal is to make the U.K. a key focus market again by strictly adhering to both regulatory and security guidelines.
According to a recent press release, CEX.IO has been given approval by the FCA-designated firm Gateway 21 to reenter the U.K. market. However, the exchange is still working on getting an anti-money laundering registration from the FCA. All operations will be managed from Lithuania and will require ongoing partnership with Gateway 21.
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2024-09-12 14:16