U.K. Crypto Users Slam FCA's Arbitrary Account 'Tests’

FCA guidelines test users' suitability for crypto products. U.K. crypto users decry unfair tests resulting in Nexo account restrictions. The U.K. landscape appears hostile to crypto. Crypto regulations and compliance are crucial steps toward mass adoption and deeper integration with traditional financial systems. In November 2023, the UK's Financial Conduct Authority (FCA) took a significant step by releasing guidelines requiring crypto exchanges to test users' competency in using crypto products. On July 2, the Nexo crypto platform implemented FCA-mandated tests for its U.K. users. However, this rollout was met with a wave of complaints from users who failed the

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