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OKX adapts to UK Regulations while offering crypto services for UK users

Published

1 year ago

October 9, 2023

OKX adapts to UK Regulations while offering crypto services for UK users

Crypto exchange OKX has announced that it will be making major changes to its platform to comply with the new rules implemented by the UK Financial Conduct Authority (FCA). These changes will take effect on October 8, 2023, and are intended to cater to the requirements of regular users in the UK. They will also ensure that crypto trading is both legal and secure.

OKX has stated that they have created a new user experience that meets the requirements of the Financial Promotions Regime in response to the FCA’s strict regulatory framework. The exchange is excited to continue offering cryptocurrency services to people in the UK while also meeting the strictest regulatory requirements.

One important change is that the token offering has been reduced to a carefully chosen group of 40 assets. To further emphasize the risks associated with investing in cryptocurrencies, OKX has prominently displayed clear risk warnings throughout its platform. Messages such as “Do not invest unless you are prepared to lose all the money you invest” will appear for users.

They stated that they have created a separate account on X (formerly known as Twitter). Users in the UK should follow OKX_UK to get the latest news, developments, and products and services that comply with the new rules in the UK.

OKX plans to continue offering cryptocurrency services to customers in the UK. They further mentioned that some exchanges have decided to stop doing so because of the new rules. The platform says it is still as motivated as ever and is committed to continuously improving its products and services.

These changes imply that OKX is demonstrating unwavering dedication to following the rules and keeping users safe. They also ensure that the active cryptocurrency trading community in the UK will always have access to a secure and user-friendly platform.