- Under new crypto legislation, Binance and Coinbase launch business in the United Kingdom.
- The UK FCA highlights the risky nature of cryptocurrency investing.
- FCA issues a warning about possible losses and a lack of protection.
In accordance with the new laws in the nation, the biggest cryptocurrency exchange, Binance, along with the top US-based exchange, Coinbase, now provide trading platforms for citizens of the United Kingdom.
Stay in the know on crypto by frequently visiting Crypto News Today
In a recent post on X (previously Twitter), a well-known Bitcoin expert, CryptoBusy initially alerted crypto aficionados to the development. While Binance and Coinbase provide exchange services to users in the United Kingdom, the Financial Conduct Authority (FCA) classifies cryptocurrency investments as high-risk due to their potential for large losses, he emphasized.
The Bitcoin analyst also emphasized the dangers the FCA sees in investing in cryptocurrencies. The risk of losing all invested money, the lack of regulatory safeguards in the event of unforeseen problems, the potential difficulty in selling investments when desired, and the inherent complexity of investments in crypto assets are a few of them.
CryptoCaster Quick Check:
The FCA also suggests that investors diversify their investments rather than placing all of their money in one place.
The exchange also stated that cryptocurrency investments are not protected by the Financial Ombudsman Service or the Financial Services Compensation Scheme in the announcement of Binance’s U.K. offering.
Additionally, Binance pointed out that several exchange services in the UK are not accessible to ordinary investors. Certain solutions are only available to UK Professional Clients due to our dedication to regulatory compliance, according to the statement.
Notably, among of the highlighted services include buying and selling non-fungible tokens as well as spot trading of more than 350 cryptocurrencies. In a similar vein, Coinbase advised investors in the United Kingdom to avoid investing in cryptocurrencies unless they were prepared to lose their money.
We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism.
From Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.
And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.
When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble.
Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.
We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.
Thank you.
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP
