CEX.IO Resumes UK Operations After Meeting FCA Compliance Requirements
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Crypto exchange CEX.IO has resumed operations in the UK after successfully complying with the Financial Conduct Authority’s (FCA) regulations.
The company had voluntarily paused its UK services following the introduction of new crypto asset financial promotion regulations by the FCA in October 2023.
The UK had been a significant market for CEX.IO before the suspension, with 69% of its European Economic Area customers based in the country, the exchange said in a press release shared with CryptoNews.
The exchange currently offers access to 190 digital assets to its UK users.
“We aim to strengthen our presence in the U.K. by aligning with new regulatory standards and supporting the region’s growth as a hub for the cryptocurrency market,” Rich Evans, Managing Director of CEX.IO UK, said in a comment.
He also highlighted CEX.IO’s strong security measures and its clean record with regulators over its 11-year history.
According to Evans, prioritizing legal compliance and customer trust has always been at the forefront of the company’s business model, even at the cost of short-term growth.
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