Back to square one – The British financial watchdog has issued a warning notice against the FTX exchange. The Financial Conduct Authority (FCA) accuses the crypto platform of providing services without authorization.
FTX in the sights of financial authorities
The FCA is in charge of supervising the supervision of financial service providers across the Channel. A few days ago she published a warning notice regarding one of the crypto market leaders FTX. Classified as ” warning (warning) on the site, this notice calls into question the activities of the exchange in the United Kingdom.
” We believe this company may be providing financial services or products in the UK without our permission. Find out why you should be wary of dealing with this unauthorized company and how to protect yourself ».
If the regulator’s wording does not directly state (” We believe ) that FTX circumvents local regulations, the FCA clearly cites as “ unauthorized “. She takes this opportunity to remind you that all these services must be registered in due form. The financial authority also draws attention to the fact that FTX and its English clients are not covered by the Financial Services Compensation Scheme ” if it goes wrong ».
The exchange run by Sam Bankman-Fried suffers a slight setback in its quest for expansion. the process was difficult for Binance, which had to adapt its crypto offer to local laws. So a real setback or a simple regulatory pressure?
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