🇬🇧 FCA Warns 145 Crypto Firms, Including Cooperative and KuCoin 🚨
- The UK Financial Conduct Authority (FCA) has aggressively added 145 digital asset companies to the warning list, including major exchanges such as Huobi-owned Cooperative and KuCoin.
- This decision follows the FCA expanding regulation to include cryptocurrency service providers, regardless of their geographical location.
🔍 FCA fiercely protects consumers:
- FCA emphasizes: "Promoting financial services or products without our permission is prohibited. Avoid dealing with these companies."
- Companies operating in the cryptocurrency sector in the UK must register with the FCA or obtain temporary permission to operate.
💬 Huobi and KuCoin responded:
- Huobi's representative affirmed that the company "does not operate or market its services or products in the UK". However, the FCA has jurisdiction over any company dealing with UK consumers, regardless of geographical location.
- KuCoin CEO Johnny Lyu demonstrates the company's commitment to complying with laws and regulations in each country they operate in.
- The UK Financial Conduct Authority (FCA) has aggressively added 145 digital asset companies to the warning list, including major exchanges such as Huobi-owned Cooperative and KuCoin.
- This decision follows the FCA expanding regulation to include cryptocurrency service providers, regardless of their geographical location.
🔍 FCA fiercely protects consumers:
- FCA emphasizes: "Promoting financial services or products without our permission is prohibited. Avoid dealing with these companies."
- Companies operating in the cryptocurrency sector in the UK must register with the FCA or obtain temporary permission to operate.
💬 Huobi and KuCoin responded:
- Huobi's representative affirmed that the company "does not operate or market its services or products in the UK". However, the FCA has jurisdiction over any company dealing with UK consumers, regardless of geographical location.
- KuCoin CEO Johnny Lyu demonstrates the company's commitment to complying with laws and regulations in each country they operate in.