OKX introduces new UK regulations beneath FCA necessities

OKX trade is ready to put into effect new compliance measures for its U.Ok.-based customers to agree to the impending FCA rules. 

The trade introduced as of late that each one customers dwelling within the U.Ok. should entire an in depth investor questionnaire starting the next week. This questionnaire assesses their figuring out of the hazards of buying and buying and selling cryptocurrencies. 

There may also be an extra questionnaire to decide the suitability of crypto investments for each and every person. OKX emphasised that customers who can’t effectively entire those questionnaires or those that fail to display a transparent figuring out of the related dangers may not be eligible to handle an account with the trade.

Those steps align with the brand new FCA rules, set to be enforced beginning Jan. eighth. This building comes after regulatory adjustments throughout the United Kingdom’s cryptocurrency marketplace. Particularly, Binance ceased accepting new U.Ok. customers on Oct. sixteenth, following enhanced restrictions via the FCA and its ban on promoting for unregistered exchanges.

In the meantime, OKX proactively adapts to the approaching rules via decreasing its virtual asset choices to kind of 40 tokens and incorporating outstanding possibility warnings inside of its person interface.

OKX has not too long ago remodeled its safety features to verify powerful person buying and selling. Ultimate week, the trade introduced the delisting of a number of privateness tokens. This displays the entire regulatory warning amongst crypto exchanges around the board. 

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