In response to regulatory requirements in the United Kingdom, Bitfinex, a prominent company exchange The cryptocurrency company has announced major changes that will affect certain customers in the country.
These changes will come into effect on January 10, 2024. The ultimate goal is to align Bitfinex's operations with the regulations set by the UK financial authorities.
Bitfinex is suspending services to several customers in response to regulatory actions
According to the announcement on January 4, Bitfinex mentioned This will result in the availability of products and services being withdrawn for some customers in the UK.
The move will affect all existing retail customers based in the UK. Existing corporate clients who are also resident in the UK and do not meet any exemption under the UK Financial Promotions Order will also be included.
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UK corporate clients who meet the specific criteria of being a high net worth company, unincorporated partnership or trust will not be affected by these changes, Bitfinex noted.
However exchange It will stop accepting verification requests from UK business customers. This is excluding those that meet the definition of a high net worth company, unincorporated association or trust, as set out in UK law.
For new customers with accounts created on the platform after November 1, 2023, Bitfinex will no longer accept individual account verification requests. This is part of the measures taken to comply with regulatory requirements.
Stock exchanges are adapting to regulatory shifts in the UK
From 10 January 2024, some existing UK customers will no longer be able to make new deposits, enter into new contracts or increase margin positions on Bitfinex. However, they will be allowed to reduce or close their positions and withdraw funds from the platform.
Bitfinex also highlighted that if a customer does not comply with the mentioned exemptions, they will be notified separately and, as of January 10, 2024, will not be able to make new deposits. Do not create new contracts or increase margin positions. However, they will still be able to reduce or close positions and withdraw funds.
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Bitfinex apologized for any inconvenience these changes may cause and thanked its customers for their support and cooperation in these matters.
In October last year, Bitfinex was listed Warning list From the UK Financial Conduct Authority (FCA).
Earlier this year, regulation in the UK affected not only Bitfinex, but others as well. Exchangeshow OK x. Starting January 8, OKX will conduct a test to assess cryptocurrency knowledge and risk management of its users in the UK. Those who fail this test may face the possibility of being unable to maintain their OKX accounts.
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