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UK bitcoin exchanges

To date, UK’s Financial Conduct Authority (FCA) has remained officially silent on regulation of cryptocurrencies like Bitcoin and the financial services and activities related to them. This silent approach seems a bit odd, as London is one of world’s top financial and fintech centers and FCA has introduced strict and solid regulatory framework regarding financial services providers like forex brokers and a number of other businesses within its jurisdiction. 

 
FCA has called its own approach to cryptocurrencies as “technology neutrality”, but it recently admitted that there may be specific areas where the Distributed Ledger Technology (DLT) challenges its current position and it could review it if that would benefit consumers. So the UK financial watchdog is considering to change the existing regulatory framework, in order to enhance market integrity, consumer protection and competition in the sphere of cryptocurrencies. In April 2017, the FCA said that it will post relevant information and warnings on its website to increase consumer awareness around digital currencies.
 
It really seems that UK is falling behind in that regard. US’ New York Department of Financial Services already has granted licenses to some of the major crypto exchanges, in Japan cryptocurrency exchange operators are officially regulated by the Financial Services Agency (FSA) and Australia and Singapore have also undertaken specific steps in that direction.
 
Despite the authorities’ “hands-off wait-and-see approach”, it seems that UK is one of the preferred jurisdictions for Bitcoin startups and crypto exchanges. On the one hand, this is due to the country’s well-developed financial and technology sector, the favorable tax treatment for digital currencies, and maybe that fact that currently no Anti-Money Laundering and Know your customer rules (AML/KYC) apply. On the other hand, some of the cryptocurrency operators are regulated in the UK as providers of payment services, and FCA does not prohibit regulated firms from engaging in digital currency trading.
 
Keep in mind that a certain level of counterparty risk is always present when dealing with unregulated entities. In case you are only looking to speculate on the price of Bitcoin, you may be better off with a FCA-regulated forex broker, which supports trading in the most popular cryptocurrencies and provides 100% protection for deposits up to £50 000 like HYCMFXCMIG and XM.
 

UK bitcoin exchanges

Broker Country Regulation Leverage Deposit Fees Review
UK FCA 1:50 Crypto only, free Review
UK N/A 1:1 $10+0.38% Review
UK None 1:1 N/A Review
UK None 1:10 Crypto only Review
UK N/A 1:1 Crypto only, free Review
Ireland N/A 1:1 Review
UK FCA registered EMD Agent 1:1 No Review
Isle of Man N/A 1:1 CC: 5% Neteller: 5% Review
UK N/A 1:1 No info Review
UK N/A 1:1 3.5% for cards Review
UK None 1:1 None Review
UK None 1:1 CC: 6% SEPA: €25 Review
UK Money Service Business 1:1 0% Review
UK None 1:1 0% Review
UK Payments Provider 1:3 CC: 3.5% Wire: Free Review
UK None 1:1 Varies Review
UK None 1:1 4-9% Review
UK N/A Yes Review
UK None 1:1 CC: 5+5% PM: $4+3% Review
UK None 1:1 Wire: Free Review
UK None 1:1 Crypto only Review
UK N/A 1:1 0.00053 BTC Review
Forex
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