RATE Group | UK Financial Watchdog Retracts Kraken Warning, but BitMEX Caution Stays Up
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UK Financial Watchdog Retracts Kraken Warning, but BitMEX Caution Stays Up

05 Mar UK Financial Watchdog Retracts Kraken Warning, but BitMEX Caution Stays Up

Posted at 09:48h in Cryptocurrency News by

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A UK financial watchdog hastily retracted an official warning about Kraken after apparently confusing the exchange with online scammers — but a similar warning about BitMEX remains active.

On March 3, the United Kingdom Financial Conduct Authority (FCA) published a notice on its website cautioning citizens that the second-largest U.S. cryptocurrency exchange by volume, Kraken, is not authorized to operate in the U.K.

The warning stated the company is “targeting people in the UK”:

“We believe this firm has been providing financial services or products in the UK without our authorization. Find out why to be especially wary of dealing with this unauthorized firm and how to protect yourself from scammers.”

Kraken demands FCA retract warning

However, the FCA quickly took the notice down a few hours ago after a complaint from Kraken.

A Kraken representative told Cointelegraph it believes the notice referred to the activities of “investment scammers” claiming to operate under the…

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