{"id":577126,"date":"2022-09-19T11:48:31","date_gmt":"2022-09-19T10:48:31","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=577126"},"modified":"2022-09-19T12:41:54","modified_gmt":"2022-09-19T11:41:54","slug":"uks-fca-warns-consumers-ftx","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/uks-fca-warns-consumers-ftx\/","title":{"rendered":"UK\u2019s FCA Warns Consumers That FTX Is Not Authorised In The Country"},"content":{"rendered":"\n
The United Kingdom\u2019s Financial Conduct Authority (FCA) has issued a warning to consumers about crypto exchange FTX. The FCA published a notice saying that the exchange lacked the authorization to provide services in the country.<\/p>\n\n\n\n
Specifically, the FCA said that<\/a> any firm or individual offering financial services must receive prior approval from it. The notice reads,<\/p>\n\n\n\n \u201cThis firm is not authorized by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.\u201d<\/p><\/blockquote>\n\n\n\n This is not the first time that the FCA has issued a warning about exchanges. In the past, the authority warned consumers against Binance, offering the same reason that it had not registered with it. Binance, in particular, has been the target of regulators across the world.<\/p>\n\n\n\n Binance has made an effort to follow regulation and become more compliant. It recently received<\/a> approval to operate in Kazakhstan. It has also been discussing<\/a> regulation with financial watchdogs in the Philippines.<\/p>\n\n\n\n Crypto has become steadily more popular in the United Kingdom, and various authorities have noted that the market should focus on compliance. For instance, it plans to regulate stablecoins<\/a> as a part of the New Financial Services and Markets bill.<\/p>\n\n\n\nUnited Kingdom Authorities Taking Crypto Regulation Seriously<\/h2>\n\n\n\n