- Binance and Coinbase (NASDAQ:COIN) commence U.K. operations under new crypto regulations.
- U.K. FCA emphasizes the high-risk nature of crypto investments.
- FCA cautions against potential losses and lack of protection.
The largest crypto exchange, Binance, alongside the leading US-based exchange, Coinbase, now operates a trading platform for U.K. residents under the new regulations in the country.
CryptoBusy, a renowned Bitcoin analyst in the crypto community, first drew the attention of crypto enthusiasts to the development in a recent post on X (formerly Twitter). He highlighted that while Binance and Coinbase offer exchange services to U.K. customers, the Financial Conduct Authority (FCA) categorizes cryptocurrency investments as high-risk due to their potential for substantial losses.
Both #Binance and #Coinbase are now operating under new UK Crypto rules"Due to the potential for losses, the Financial Conduct Authority (FCA) considers Crypto investment to be high risk."
What are the key risks?
1. You could lose all the money you invest
2. You should… pic.twitter.com/CJtLVAu2DT
— CryptoBusy (@CryptoBusy) October 11, 2023
Additionally, the Bitcoin analyst highlighte…
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