UK Issues Warning to Crypto Exchanges
The UK’s Financial Conduct Authority (FCA) has raised red flags for major exchanges like HTX and Kucoin, alongside 143 others, deeming them unauthorized crypto companies.
The UK's Financial Conduct Authority (FCA) has raised red flags for major exchanges like HTX and Kucoin, alongside 143 others, deeming them unauthorized crypto companies.
To avoid legal consequences, these exchanges must secure temporary authorization from the regulator.
Failure to comply may result in website shutdowns, social media account suspensions, and potential legal action against company executives.
It's noteworthy that since 2020, only 13% of applications have received FCA approval.
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