The British financial market regulator FCA (Financial Conduct Authority) recently updated its warning list, adding 143 new entities, including mainstream cryptocurrency trading platforms such as Huobi and KuCoin. These trading platforms are marked as "unauthorized" institutions, and the FCA warns consumers to "avoid dealing with these companies." 😯
According to UK regulations, companies that are allowed to conduct crypto-asset activities must register with the FCA or obtain temporary operating qualifications. The FCA revealed that since 2020, it has received a total of 291 registration applications, but only approved 38 of them, or about 13%. Currently, the list of FCA-registered crypto asset providers includes 42 entities including Bitstamp, Revolut and Gemini.
So, what impact will this FCA warning list update have on these trading platforms? What do you think about this? You are welcome to speak freely in the comment area and let’s discuss it together!
According to UK regulations, companies that are allowed to conduct crypto-asset activities must register with the FCA or obtain temporary operating qualifications. The FCA revealed that since 2020, it has received a total of 291 registration applications, but only approved 38 of them, or about 13%. Currently, the list of FCA-registered crypto asset providers includes 42 entities including Bitstamp, Revolut and Gemini.
So, what impact will this FCA warning list update have on these trading platforms? What do you think about this? You are welcome to speak freely in the comment area and let’s discuss it together!