Trading Bitcoin In The UK, Best Exchanges, Regulations, & Hits And Misses
A big advantage is that crypto exchanges are legal in the UK and just need a requirement with the FCA to register. This means that UK citizens can sign up on them and work with cryptocurrency, deposit, and withdraw cash.
However, cryptocurrency trading itself isn’t considered legal tender even though the prohibition of it isn’t mentioned anywhere officially. Nevertheless, people in the UK still trade, so you shouldn’t take this close to heart.
Regulations on crypto in the UK
For an exchange to operate on the territory of the United Kingdom, it needs to register with the Financial Conduct Authority, or FCA. Some exchanges are also eligible for obtaining an e-license. As long as a platform has one, it can legally work with citizens of the UK.
As for the future, the United Kingdom plans to tighten the security measures even more and fight the risks coming from crypto. However, that would be hard to do unless crypto is banned. That’s due to the crypto’s nature of being an extremely volatile sector.
Available brokers to use for trading crypto in the United Kingdom
One of the best exchanges that you can use for crypto trading in the UK is CEX.io. It’s officially registered in the UK and thus, can legally operate there. Moreover, it offers a wide range of virtual assets for trading and investing.
Another choice for a UK citizen is Coinbase Pro. Coinbase Pro is more of a beginner-friendly exchange for buying or selling crypto. It has a simple interface with explanations for all functions.