- The UK’s Financial Conduct Authority (FCA) has stated that BitMEX has been targeting UK investors without being authorized to do so.
- It should be noted that the FCA didn’t accuse BitMEX of any particular fraudulent activity.
The UK’s Financial Conduct Authority (FCA) has recently issued a statement claiming that the BitMEX crypto exchange has been targeting UK investors without being authorized to do so. An excerpt from the statement reads:
Based upon information we hold, we believe [BitMEX] is carrying on regulated activities which require authorization.
Though the authorities are not accusing BitMEX of any particular fraudulent activity, the statement says that financial firms offering services without the right license may, in fact, be “scams.” FCA uses the word several times in the post. The agency also offered advice to users in the UK on how to prevent being victims of these scams.
It urged the public to only deal with firms that are registered with the FCA. Individuals who aren’t sure about a company’s registration can confirm the existence of licensing agreements by visiting the UK’s register of license holders. This statement about BitMEX comes just days after the watchdog issued a similar warning about Kraken, a crypto exchange platform. Interestingly, the FCA has now mysteriously removed the warning.
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