A general view of the offices of the Financial Conduct Authority (FCA) in London, Britain, May 4, 2022. REUTERS/Peter Nicholls

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LONDON, Sept 19 (Reuters) – Britain’s Financial Conduct Authority said on Friday that cryptocurrency exchange FTX may offer financial services or products in the UK without its authorisation.

FTX is one of the largest crypto exchanges in the world, raising its profile this year by acting as the white knight of crypto, throwing lifelines to digital asset platforms that have faltered as the prices of cryptocurrencies have cratered. Read more

“Almost all businesses and persons offering, promoting or selling financial services or products in the UK must be authorized or registered by us,” the FCA statement read.

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“This business is not authorized by us and is targeting people in the UK,” the statement, which had the subject “FTX,” read.

FTX did not immediately respond to a request for comment sent on a holiday.

Regulators around the world continue to grapple with how best to regulate cryptocurrency companies. The FCA said in July that global rules were needed to regulate international crypto businesses and “keep markets clean.” Read more

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Reporting by Alun John; Editing by Kirsten Donovan

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