UK FCA banning crypto offerings outside licensed exchanges

[Radius]

@Radius so only big corporate projects gonna launch in uk?

essentially yes. barriers to entry now enormous for genuine startups

 

[goxeme]

"protect retail investors" aka make sure only institutions can profit

 

[Obi1]

enforcement gonna be interesting. how they stop people using vpns to access foreign platforms?

 

[hack3rcon]

Theyll target platforms directly. Make it illegal to serve UK customers without license

 

[Timmy98]

does this affect buying bitcoin and ethereum on normal exchanges?

 

[CryptoDada]

does this affect buying bitcoin and ethereum on normal exchanges?

No, this specifically targets new token launches and ICOs. Regular trading unaffected.

 

[Major]

Not surprised. Writing was on wall after all the defi exploits and scam projects in 2022

 

[Fjodor]

slippery slope. today its ICOs tomorrow its banning bitcoin entirely

 

[BTCat]

@Fjordor doubt they'll ban bitcoin. too much institutional adoption now

 

[coinhunter]

what about existing platforms like uniswap? they just gonna geoblock uk?

 

[marshal]

what about existing platforms like uniswap? they just gonna geoblock uk?

ser uniswap is permissionless protocol. cant really ban smart contracts

 

[X-trader]

@marshal tell that to tornado cash developers lol

 

[Cryptoist]

this might actually be positive long term. eliminates scam projects, makes legit ones more credible

 

[bittersweet]

mixed feelings. want protection from scams but also want opportunity to invest early

 

[CryptoNeed]

least they're being clear about rules instead of uncertainty. better than US approach

 

[Fjodor]

least they're being clear about rules instead of uncertainty. better than US approach

"clear rules" = ban everything except what banks control

 

[hack3rcon]

Interesting to see how other EU countries respond. Could create competitive advantage for more crypto-friendly jurisdictions.

 

[Cryptoist]

yeah ireland and portugal looking pretty good right now for crypto businesses