Title: The Tightening Grip of Regulations on Cryptocurrency in the UK Post by: Altcoiner007 on October 09, 2023, 09:29:13 AM The UK has tightened their regulations on Cryptocurrency which has impacted the web3 space and the onboarding process in particular. I feel if the government could even control the use of the internet in they would setup an even stricter rules. Two recent examples include Chase's decision to no longer allow cryptocurrency purchases due to concerns about fraud risks associated with digital tokens and Bybit's announcement of suspending their UK services in response to pending rules from the Financial Conduct Authority.
While these clampdowns have caused concern for users globally, there are alternative options available for UK users that include Bitget, Coinbase, eToro, CoinJar, and Tap Fintech. These options offer a wide range of compliant, regulated, and licensed services, and Bitget even had her recent UK Tour to solidify presence and network for a good business play ground. If there are any noteworthy alternatives within this region or elsewhere, I'm interested in hearing critiques and opinions on these options, particularly in terms of online payments, debit card services, cost-effectiveness, and efficiency. Title: Re: The Tightening Grip of Regulations on Cryptocurrency in the UK Post by: The Future on October 09, 2023, 01:04:54 PM The UK has tightened their regulations on Cryptocurrency which has impacted the web3 space and the onboarding process in particular. I feel if the government could even control the use of the internet in they would setup an even stricter rules. Two recent examples include Chase's decision to no longer allow cryptocurrency purchases due to concerns about fraud risks associated with digital tokens and Bybit's announcement of suspending their UK services in response to pending rules from the Financial Conduct Authority. This is absolutely ridiculous! The UK government's move to crack down on cryptocurrency usage is nothing but an overreach of power. It is an assault on our right to privacy and financial freedom. The current situation is difficult for UK cryptocurrency aficionados. But despite this setback, I am really relieved to see that some supportive individuals are still prepared to support crypto users in maintaining their position in the industry.While these clampdowns have caused concern for users globally, there are alternative options available for UK users that include Bitget, Coinbase, eToro, CoinJar, and Tap Fintech. These options offer a wide range of compliant, regulated, and licensed services, and Bitget even had her recent UK Tour to solidify presence and network for a good business play ground. If there are any noteworthy alternatives within this region or elsewhere, I'm interested in hearing critiques and opinions on these options, particularly in terms of online payments, debit card services, cost-effectiveness, and efficiency. Title: Re: The Tightening Grip of Regulations on Cryptocurrency in the UK Post by: Iamcrypticguy on October 09, 2023, 02:27:45 PM I thought the UK was expected to excel in both traditional finance and the crypto sector. It's disheartening to see them falling short of the extensive promises of blockchain technology. I have friends in the UK who are actively seeking similar alternatives, and I plan to share the options you mentioned with them. However, I'd like to inquire about your opinion on which of these alternatives is more suitable for beginners.
Title: Re: The Tightening Grip of Regulations on Cryptocurrency in the UK Post by: Altcoiner007 on October 10, 2023, 01:43:12 PM I thought the UK was expected to excel in both traditional finance and the crypto sector. It's disheartening to see them falling short of the extensive promises of blockchain technology. I have friends in the UK who are actively seeking similar alternatives, and I plan to share the options you mentioned with them. However, I'd like to inquire about your opinion on which of these alternatives is more suitable for beginners. Talking about which is more suitable for a beginner, I'll recommend using exchanges that are compliant with all applicable laws and regulations especially if you're in the UK so you won't get trapped! Then go for a platform that you can easily navigate - beginner friendly, and strong security. I personally use Coinbase and Bitget often, yet when introducing my younger friends to trading, they're more comfortable using Bitget. Beginners can explore that option for a start to see how it goes with them Title: Re: The Tightening Grip of Regulations on Cryptocurrency in the UK Post by: MarvieJ on October 11, 2023, 10:17:46 PM My heart sank when I heard the news: Bybit crypto exchange is throwing in the towel and leaving the UK market. This is a devastating blow for us traders who have come to rely on their platform.
Title: Re: The Tightening Grip of Regulations on Cryptocurrency in the UK Post by: Bitcoin_Arena on October 12, 2023, 11:47:55 PM My heart sank when I heard the news: Bybit crypto exchange is throwing in the towel and leaving the UK market. This is a devastating blow for us traders who have come to rely on their platform. Worry not, there's always a new kid on the block. You just have to be observant enough :)Before Bybit, there was Binance, bitmex, Bittrex etc. and there will be more after Bybit. I believe exchanges like Bitget, MEXC, Bingx, Phemex are still available for the UK users… Right? |