{"id":494251,"date":"2022-09-19T12:25:43","date_gmt":"2022-09-19T09:25:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/british-regulator-lists-ftx-crypto-exchange-as-unauthorized-firm\/"},"modified":"2022-09-19T12:25:43","modified_gmt":"2022-09-19T09:25:43","slug":"british-regulator-lists-ftx-crypto-exchange-as-unauthorized-firm","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/british-regulator-lists-ftx-crypto-exchange-as-unauthorized-firm\/","title":{"rendered":"# British regulator lists FTX crypto exchange as &#8216;unauthorized&#8217; firm"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2fa20bd0681\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2fa20bd0681\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/british-regulator-lists-ftx-crypto-exchange-as-unauthorized-firm\/#%E2%80%9D_British_regulator_lists_FTX_crypto_exchange_as_%E2%80%98unauthorized_firm_%E2%80%9C\" >&#8221; British regulator lists FTX crypto exchange as &#8216;unauthorized&#8217; firm  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_British_regulator_lists_FTX_crypto_exchange_as_%E2%80%98unauthorized_firm_%E2%80%9C\"><\/span>&#8221; British regulator lists FTX crypto exchange as &#8216;unauthorized&#8217; firm  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvZTM4YWM1OGQtNzBlMS00OTAwLTgzMmQtYWEyOTA1N2U3ZWQ5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ebd806f>The Financial Conduct Authority (FCA), the chief financial regulator in the United Kingdom, issued a warning to Bahama-based crypto exchange FTX, claiming it operates without authorization. The company joined a growing list of unregistered cryptocurrency-related businesses that continue to outweigh those signed up with the FCA.\u00a0<\/p>\n<p>A warning note, dated Sept. 16, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fca.org.uk\/news\/warnings\/ftx\">claims<\/a> that the firm \u201cmay be providing financial services or products in the UK without authorization.\u201d Addressing the potential customers, the FCA notes that they won\u2019t be able to get their money back or seek the protection of the Financial Services Compensation Scheme \u201cif things go wrong.\u201d <\/p>\n<p>By the end of August, the list of crypto companies registered with the FCA included 37 entities, with the Crypto.com becoming the latest to join it. Other firms that managed to go through the registration process in 2022 to achieve Money Laundering Regulations <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/register.fca.org.uk\/s\/search?predefined=CA\">approval<\/a>\u00a0were eToro UK, DRW Global Markets LTD, Zodia Markets (UK) Limited, Uphold Europe Limited, Rubicon Digital UK Limited and Wintermute Trading LTD. <\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>UK regulators target Revolut for &#8216;material misstatement&#8217; in audit<\/em><\/strong><\/p>\n<p>New cryptocurrency-focused regulations were instituted in January 2020 to allow the FCA to supervise businesses operating in the space and enforce AML and counter-terrorism financing regulations. As the spokesperson for the FCA explained to Cointelegraph back in August: <\/p>\n<blockquote><p>\u201cSuccessful registration depends upon a firm meeting the minimum standards we expect to prevent money laundering and terrorist financing, and we have seen too many financial crime red flags missed by the crypto asset businesses seeking registration.\u201d<\/p><\/blockquote>\n<p>Although there is no clear understanding of what the im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te repercussions for the unregistered entities might look like, the FCA is surely no vegetarian when it comes to enforcement. On Sept. 13, one of the largest electronic payment providers in the United Kingdom, ePayments, closed its business operations three years later after receiving a respective order from the FCA due to alleged weaknesses in its \u201cfinancial crime controls.\u201d<\/p>\n<p>It isn\u2019t the first time lately that FTX has caught the attention of the regulators. On Aug. 19, the Federal Deposit Insurance Corporation (FDIC) issued cease and desist letter for the company, alleging that it had misled the public about certain cryptocurrency-related products being insured by FDIC.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/british-regulator-lists-ftx-crypto-exchange-as-unauthorized-firm\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; British regulator lists FTX crypto exchange as &#8216;unauthorized&#8217; firm &#8220; The Financial Conduct Authority (FCA), the chief financial regulator in the United Kingdom, issued a warning to Bahama-based crypto exchange FTX, claiming it operates without authorization. The company joined a growing list of unregistered cryptocurrency-related businesses that continue to outweigh those signed up with&#8230;<\/p>\n","protected":false},"author":1,"featured_media":494252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvZTM4YWM1OGQtNzBlMS00OTAwLTgzMmQtYWEyOTA1N2U3ZWQ5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74860,70934,4966],"class_list":["post-494251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrency-exchange","tag-regulation","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/494251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=494251"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/494251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/494252"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=494251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=494251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=494251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}