Cryptocurrency exchange CEX.io has officially resumed its operations in the UK while simultaneously working towards acquiring an AML license from the country’s regulatory body. This news was reported by The Block, citing a company press release.
The exchange initially exited the UK market following the Financial Conduct Authority (FCA)‘s implementation of new rules governing the promotion of cryptocurrency services and products in October 2023. These changes required firms to comply with stricter regulatory standards.
To meet these requirements, CEX.io entered into an agreement with licensed intermediary Gateway 21, allowing the company to comply with investor questionnaires, risk warnings, and transparency obligations.
“We strictly operate within current regulations and hold 40 licenses and registrations globally. Moreover, we implement advanced customer security measures. Over the course of our 11-year history, CEX.io has never been involved in any security incidents or regulatory lawsuits. Our priority has always been responsibility towards both legal standards and the users who trust us with their assets, even if it means sacrificing business growth,” said Rich Evans, Managing Director of CEX.io’s UK division.
Despite resuming its services in the UK, the exchange has yet to secure an AML license from the FCA. In the meantime, it continues to provide services via its Lithuanian branch, where the company is officially registered.