OKX introduces new UK rules in compliance with FCA requirements
[ad_1]
OKX exchange will implement new compliance measures for its UK consumers to comply with upcoming FCA regulations.
change Announce Today, all users living in the UK will have to fill in a detailed investor questionnaire starting next week. The questionnaire assesses their understanding of the risks of buying and trading cryptocurrencies.
There will also be an additional questionnaire to determine each user’s suitability for cryptocurrency investing. OKX emphasizes that users who are unable to successfully complete these questionnaires or fail to clearly understand the relevant risks will not be eligible to maintain accounts on the exchange.
These steps are in line with new FCA regulations and will be implemented from January 8th. This development follows regulatory changes in the UK cryptocurrency market. Notably, Binance stopped accepting new UK users on October 16 after the FCA tightened restrictions and banned advertising by unregistered exchanges.
At the same time, OKX has actively adapted to the upcoming regulations, reducing its digital asset offerings to approximately 40 tokens and incorporating prominent risk warnings into the user interface.
OKX recently revised its security measures to ensure robust user transactions. Last week, the exchange announced the delisting of multiple privacy coins. This reflects the cautious approach to overall regulation of cryptocurrency exchanges.
