Nexo Resumes Registrations in UK

In accordance with the new guidelines set by the Financial Conduct Authority (FCA), Nexo, a centralized crypto lender, has resumed client registrations for UK residents on Tuesday.

This comes after a ten-month pause in the process due to the company’s efforts to meet compliance standards set by the FCA. In December 2023, Nexo temporarily suspended new user registrations in the UK following changes in regulatory guidelines.

This was likely a response to the tightening regulations imposed by the UK government on cryptocurrency and financial services.

The upgrades were implemented with the help of Gateway 21, a provider authorized and regulated by the FCA to ensure UK compliance.

These changes aim to promote risk awareness and maintain high standards of client care in the UK market. They include cool-off periods, specialized risk warnings for UK clients, and mandatory compliance measures.