Cryptocurrency exchange Bitfinex has announced that customers in the United Kingdom can no longer increase their crypto portfolios on the exchange, they are only permitted to reduce or withdraw from this week onwards.
Meanwhile, the changes are coming in response to the UK’s Financial Conduct Authority’s (FCA) announcement of new rules for marketing crypto assets. These will come into effect this year.
On January 3, UK customers using Revolut Business were no longer able to purchase crypto through the platform.
Despite the temporary suspension, business customers can still hold and sell their current crypto holdings. However, these adjustments will not impact Revolut’s retail customers.
Revolut reportedly emphasized that the temporary suspension is aimed at allowing the company sufficient time to adapt its services to comply with the FCA’s new requirements.
