Britain regulation Exchange FTX UK Britain

FTX Met With UK Regulator Over Licensing but Ended Up 'Surprised' by the Warning, According to Reports

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 Major crypto exchange FTX has reportedly been discussing its licensing with the UK Financial Conduct Authority (FCA) - before the latter issued a statement against it.

As reported, the chief financial regulator in the United Kingdom issued a warning against Bahama-based crypto exchange, claiming it operates without authorization and is "targeting people in the UK." This came as FTX was trying to secure a UK licence.

However, the Financial Times cited the exchange's CEO Sam Bankman-Fried as saying that this warning came as a “surprise,” given that FTX had been “in discussion with the FCA about licensing for a while.”The report further cited "people with direct knowledge of the FCA’s process," stating that this warning was indeed directed to FTX itself, not any impersonators.

This is relevant, given that soon after the regulator's statement was issued, the CEO warned the public that “a scammer has been impersonating FTX in the UK by phone,” telling users that “FTX will never call you by phone.”But, the above-mentioned people with knowledge of the matter said that the scam phone numbers included in the FCA's statement may have been there by mistake.

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