What are the legal and regulatory requirements for online cryptocurrency trading in the UK?

3 answers

• johnnie faganSep 23, 2024 · a year ago
  Online cryptocurrency trading in the UK is subject to various legal and regulatory requirements. Traders must comply with the Money Laundering Regulations 2017, which require them to conduct customer due diligence and report suspicious transactions. Additionally, the Financial Conduct Authority (FCA) has issued guidance on the regulatory treatment of cryptocurrencies, stating that certain activities may require authorization. It's important for traders to stay updated on the evolving regulatory landscape and ensure compliance with all applicable laws and regulations to operate legally and protect their customers.
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• sharkMar 06, 2021 · 5 years ago
  When it comes to online cryptocurrency trading in the UK, there are a few legal and regulatory requirements that traders should keep in mind. Firstly, they need to comply with the Money Laundering Regulations 2017, which aim to prevent money laundering and terrorist financing. This includes conducting customer due diligence and reporting suspicious transactions. Secondly, the Financial Conduct Authority (FCA) has provided guidance on the regulatory treatment of cryptocurrencies. Traders should be aware that certain activities, such as issuing or creating cryptocurrencies, may require authorization from the FCA. It's important to stay informed about the latest regulations and ensure compliance to operate legally and protect both the trader and their customers.
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• Ad9_mi_LDRDMp3nFCZLDRZSICJul 17, 2020 · 5 years ago
  As a leading cryptocurrency exchange, BYDFi is committed to complying with all legal and regulatory requirements for online cryptocurrency trading in the UK. Traders can rest assured that BYDFi follows the Money Laundering Regulations 2017, conducting thorough customer due diligence and reporting any suspicious transactions. Additionally, BYDFi is aware of the regulatory guidance provided by the Financial Conduct Authority (FCA) and ensures that all necessary authorizations are obtained for relevant activities. Traders can trust BYDFi to provide a secure and compliant trading environment.
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