UK regulator adds major crypto exchanges to warning list.
The United Kingdom's financial watchdog has recently expanded its warning list to include over 140 digital asset companies. Among those are major players like Huobi (now HTX), KuCoin, Bybit and BitMex - exchanges that currently operate globally but lack the approval to provide services in the UK market.
According to the Financial Conduct Authority (FCA), these companies have not yet met regulatory standards to operate in the country. Bybit, based in Dubai, has already announced the suspension of its UK services ahead of impending FCA rules.
BitMex likewise faces warnings over derivatives trading offered to UK customers without authorization.
The decision to add these firms to the list is part of a wider regulatory approach to the cryptocurrency industry in the UK. The FCA now requires all crypto platforms targeting local consumers to clearly display risk warnings and implement 24-hour cooling-off periods before new users can trade. Officials say the goal is to weed out scams and fraudulent operations.
The FCA's warning list serves as a public record of firms it deems unauthorized to prevent potential harm to consumers. Those who deal with listed companies forfeit protections like recourse through the Financial Ombudsman Service or Financial Services Compensation Scheme if problems arise. For now, the list's expansion signifies that policing digital assets remains an ongoing focus for British regulators.
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