% 0.43
BTC Dominance:
% 0.12
Market Cap:
$2.43 T
% 0.29
Fear & Greed:
73 / 100
$ 67.112
BTC Dominance:
% 54.3
Market Cap:
$2.43 T

Another Bitcoin Platform Decides to Withdraw from the UK!

Bitcoin UK

The recent regulations in the UK are forcing companies operating in Bitcoin and other cryptocurrencies to withdraw from the UK. In this context, cryptocurrency loan platform Nexo also decided to gradually remove some of the products it offers to its customers in the UK in response to the new rules.

The new marketing regulations, set to take effect on October 8, mandate that companies must register with the Financial Conduct Authority (FCA) in the UK. Bybit had previously declared its inability to comply with these regulations, citing its lack of inclusion in the FCA’s cryptocurrency assets. Consequently, the Bitcoin platform made the decision to withdraw from the UK.

You might like: Binance Announced its 11th Reserve Proof!

A Nexo spokesperson told Coindesk that the platform plans to gradually remove cashback payments for referral and partnership programs along with Nexo Exchange and Nexo Card transactions from October 8.

This decision led other companies, such as cryptocurrency exchange ByBit and Paypal, who intend to comply with the new regulations of the FCA, to recently announce that they will stop offering certain crypto services to UK customers.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don’ t forget to follow us on our TelegramYouTube and Twitter channels for the latest news

Leave a Reply

Your email address will not be published. Required fields are marked *