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Two-thirds of UK crypto firms skip vital ‘know your business’ checks

Research also showed that 70% of high street banks and 56% of challenger banks don’t carry out necessary ‘know your business’ verification.

New crypto traders need ‘cooling-off’ period rules UK watchdog

Under new rules from the FCA, crypto firms will also be required to warn traders that they won’t be protected “if something goes wrong.”

The FCA has issued a warning for a firm called FTX. A spokesperson for the crypto firm says it’s likely an impersonation scam.

The FCA says crypto firms are producing too many “red flags” while critics warn the regulator may need to ease its crypto approach.