Which Crypto Services are FCA Registered/Regulated?

TheBanker

Here's an FCA notice about Binance:
https://www.fca.org.uk/news/news-stories/consumer-warning-binance-markets-limited-and-binance-group

Binance Markets Limited is not permitted to undertake any regulated activity in the UK. This firm is part of a wider Group (Binance Group).

Due to the imposition of requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA.

No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK.

The Binance Group appear to be offering UK customers a range of products and services via a website, Binance.com.

And
https://www.fca.org.uk/publication/supervisory-notices/first-supervisory-notice-binance-markets-limited.pdf

And
https://www.fca.org.uk/news/press-releases/recent-statements-binance-and-eqonex-limited

bery_451

Okay any these UK based crypto exchanges that have their Head Quarters in the UK are FCA registered?:

- Tidex
- Kuna Exchange
- Cex.io
- Blockchain.com
- CoinEx
- Exmo
- Bitstamp

penners324

Your money whilst invested is still not covered.

bery_451

penners324 said:

Your money whilst invested is still not covered.

Yes obviously investing is not risk free so there's a chance of losing money however I am talking about counterparty risk that are risks that have nothing to do with the investment and are outside of the investment. Such as 3rd parties or companies that allow trades/investments to happen between the buyers and sellers. Its the FCA job to regulate these companies to minimise counterpart risks correct?

So if a crypto service is FCA registered then that is the safest way for UK buyers to buy crypto right? 

Malthusian

bery_451 said:

Yes obviously investing is not risk free so there's a chance of losing money however I am talking about counterparty risk that are risks that have nothing to do with the investment and are outside of the investment. Such as 3rd parties or companies that allow trades/investments to happen between the buyers and sellers. Its the FCA job to regulate these companies to minimise counterpart risks correct?

No. Crypto is unregulated, and whether a crypto exchange has acquired FCA registration for some other service (e.g. CFD trading) is irrelevant.

If you loan your money to a crypto exchange all due diligence burden falls on you. There is no regulatory recourse if they pull the rug (compared with FCA-regulated activities which are covered by the FSCS).

So if a crypto service is FCA registered then that is the safest way for UK buyers to buy crypto right?

Contradiction in terms. Like asking where you can find an exciting insurance policy or a quiet pair of cymbals.

No crypto services are FCA-registered. Selling crypto is not an FCA-regulated activity. Some companies in the crypto industry may have FCA registration but that is for different services.

masonic

Malthusian said:

bery_451 said:

Yes obviously investing is not risk free so there's a chance of losing money however I am talking about counterparty risk that are risks that have nothing to do with the investment and are outside of the investment. Such as 3rd parties or companies that allow trades/investments to happen between the buyers and sellers. Its the FCA job to regulate these companies to minimise counterpart risks correct?

No. Crypto is unregulated, and whether a crypto exchange has acquired FCA registration for some other service (e.g. CFD trading) is irrelevant.

Crypto firms have been registering for AML compliance. https://register.fca.org.uk/s/search?predefined=CA