Lending
Nexo Resumes User Registrations in the UK After Regulatory Updates
Tuesday. September 3 at 5:30 PM
1 min. readNexo has restarted new user sign-ups in the United Kingdom following a 10-month pause in the registration process. The crypto lending platform made significant changes to comply with the UK's Financial Conduct Authority (FCA) regulations. The updated onboarding process focuses on enhancing investor protection and risk awareness, aligning more closely with the FCA guidelines. Nexo temporarily stopped new registrations in the UK to implement these regulatory enhancements. Additionally, the platform adjusted its services in response to FCA changes, such as suspending cashback payouts and referral programs. The 10-month break allowed Nexo to align its procedures with regulatory standards. The new onboarding process includes educational materials to help users navigate the crypto space. Despite challenges faced by other crypto firms in the UK, Nexo aims to provide a smoother experience for investors in the region.