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Britain’s financial watchdog says FTX may be operating in UK without authorisation
The cryptocurrency exchange FTX may be providing financial services or products in the UK without being authorized, according to the Financial Conduct Authority of Great Britain on Friday.
The cryptocurrency exchange FTX may be providing financial services or products in the UK without being authorized, according to the Financial Conduct Authority of Great Britain on Friday.
One of the biggest cryptocurrency exchanges in the world, FTX, has increased its visibility this year by serving as the industry's "white knight," providing support to digital asset companies that have fallen on hard times as cryptocurrency values have plummeted.
According to the FCA statement, "almost all businesses and people providing, marketing or selling financial services or products in the UK must be approved or registered by us."
The message, with the topic "FTX," said, "This business is not authorized by us and is targeting persons in the UK."
An inquiry for comments made on a holiday did not immediately get a response from FTX.
Regulators continue to debate the best way to control cryptocurrency businesses. The FCA said in July that international regulations are required to control global cryptocurrency businesses and "keep markets clean."
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