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Bybit Pledges Commitment to Stay in UK amid Changing FCA Rules
Bybit, a prominent crypto exchange remains steadfast in its commitment to stay in the United Kingdom with CEO Ben Zhou reiterating that “leaving the UK is not part of our current strategy”.
The New Regulatory Landscape in the UK
Crypto has been the subject of intense scrutiny by regulatory authorities around the world. The UK is no exception, and its Financial Conduct Authority (FCA) has been actively working to establish a regulatory framework for the crypto industry. One notable change on the horizon is the overhaul of rules governing financial promotions, which will take effect from October 8.
The FCA’s financial promotions rules will encompass crypto companies, potentially impacting their ability to reach local customers. To promote transparency and protect consumers, these rules necessitate that any company engaging with UK clients must be registered or authorized by the FCA.
The FCA’s new rules inc
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