The UK’s latest regulations on Bitcoin and cryptocurrencies are causing crypto companies to leave the country.
At this point, the latest news came from the cryptocurrency loan platform Nexo.
Speaking to Coindesk, a Nexo spokesperson said the platform plans to phase out some of the products it offers to its UK customers in response to new rules in the country.
Accordingly, starting from October 8, cashback payment transactions for referral and partnership programs, as well as Nexo Exchange and Nexo Card transactions, will begin to be phased out.
However, Nexo’s core products, Earn, Borrow, Exchange and Card functions, will continue to serve all our customers without any problems.
On the other hand, apart from Nexo, crypto exchange ByBit and Paypal also recently said that they will stop offering certain crypto services to UK customers in response to the rules brought by the FCA.