Cryptocurrency exchange OKX UK has announced changes to its operations in response to new regulations introduced by the UK Financial Conduct Authority (FCA). The changes, which will come into effect from October 8, are specifically aimed at individual users in the United Kingdom.
OKX UK announced in a statement that it has reduced the number of tokens it offers to approximately 40 tokens, including popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tether (USDT) and USD Coin (USDC). This move will be in line with new British regulations.
The company has also implemented clear and prominent risk warnings for its users. One of these warnings says: “Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.”
Despite the regulatory changes, OKX UK said it will continue to serve its customers in the United Kingdom.
The company argues that it has developed a new user experience that complies with the requirements of the Financial Promotion Regime. The United Kingdom has recently tightened its rules against the cryptocurrency industry and especially stock exchanges.
*This is not investment advice.
