OKEx Reduces the Alt Coins It Offers in the UK
In a statement, cryptocurrency exchange OKX said it would be making “significant changes” to be in line with the law.
OKX UK, a cryptocurrency exchange in the UK, has stated that it would be restructuring its business in light of recent reforms mandated by the UK Financial Conduct Authority (FCA). Beginning on October 8th, new regulations will apply only to individual users in the United Kingdom.
Coins including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tether (USDT), and USD Coin (USDC) are among the roughly 40 tokens that OKX UK now supports, as disclosed in a release. The change will comply with the latest British rules.
In addition, the firm has provided its consumers with obvious and understandable danger warnings. “Not investing unless you can afford to lose your whole investment is the advice of at least one of these disclaimers. You should not expect to be shielded from loss in the event of a problem with this high-risk investment.”
OKX UK has assured its British consumers that it would keep operating despite the new rules. The business claims it has created a refined user interface that meets all guidelines set out by the Financial Promotion Regime. Regulation of the cryptocurrency market and stock exchanges in particular has become more stringent in the United Kingdom.