Cryptos: UK regulator issues warning against FTX

Published on September 20, 2022 at 12:54 pmUpdated September 20, 2022 2:06 pm.

After warning consumers about Binance, the UK regulator, the Financial Conduct Authority, issued a warning on the FTX cryptocurrency exchange on Friday. Bahamas-based FTX is targeting UK consumers despite failing to secure UK regulatory approval, according to the FCA.

As a result, investors have “little chance of getting their money back if something goes wrong” because they would not be protected by the country’s ombudsman service and compensation system.

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