Key Takeaways
- Nexo resumes UK client registrations with updated compliance measures.
- The company recognizes the importance of educating clients about the regulatory framework and aims to provide tailored educational resources to help clients make informed decisions.
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Nexo, a leading digital asset service provider, has resumed accepting new client registrations in the United Kingdom starting September 3, 2024, said the firm in a Tuesday statement. The move comes after Nexo implemented platform upgrades to comply with Financial Conduct Authority (FCA) guidelines.
As noted by Nexo, these updates include the introduction of cool-off periods, specialized risk warning messages, and other mandatory compliance measures. These upgrades were implemented with the support of Gateway 21, a financial promotion approver in the UK.
Through the resumption of new UK client registrations, Nexo wants to reaffirm its commitment to the UK market and its clients.
“The UK has long been a cornerstone market for Nexo, and our commitment to our clients here remains resolute,” said Elitsa Taskova, Chief Product Officer at Nexo.
The UK government proposed a new crypto regulatory framework in February, requiring FCA authorization for crypto firms and including co-supervision for systemic stablecoins.
Nexo’s previous decision to suspend onboarding for new customers in the UK was influenced by the need to comply with new financial promotion regulations set forth by the FCA. As a result, while…
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