The UK Financial Conduct Authority (FCA) issued a notice earlier this week, saying that crypto derivatives exchange BitMex has been operating in the country without its authorization. According to the Block report, BitMex is working closely with its advisers to assess the situation.
“BitMEX is not authorized by the UK FCA.”
According to the notice issued by the UK Financial Conduct Authority, crypto derivatives exchange BitMEX is not authorized to operate in the country. BitMex was not the only exchange that received such notice. The FCA also issued a similar warning to the crypto exchange Kraken. But the FCA later removed the notice, saying it was an error on their part, Kraken’s compliance team is looking into the matter with the FCA.
New anti-money laundering law makes crypto regulations more strict in Europe.
The new anti-money laundering law in Europe that came in to affect earlier this year has already forced a few crypto companies to shut down. The anti-money laundering law in Europe requires crypto companies to collect more information about their users to help authorities track suspicious activities. Countries all around the world are implementing guidelines proposed by the Financial Action Task Force last year. Abu Dhabi, South Korea, and Singapore are among the few countries that have already enforced the FATF guidelines.
