The FCA warns Bitfinex may be promoting financial services without authorization.

The Financial Conduct Authority (FCA) in the United Kingdom has issued a public warning regarding Bitfinex, a cryptocurrency platform. There are concerns that Bitfinex may be providing financial services or products without the necessary regulatory approval. The FCA strongly advises the public to exercise caution and avoid interacting with this platform.

In accordance with UK regulations, it is unlawful for both companies and individuals to promote financial services without securing the appropriate authorization. Bitfinex is currently not authorized by the FCA, and there are indications that it might be targeting individuals residing in the UK.

Here is information about the unauthorized firm:

Name: Bitfinex

Website: bitfinex.com

Engaging with Bitfinex under these circumstances could have serious consequences for consumers. If you choose to conduct business with this unapproved firm, you won't have access to the Financial Ombudsman Service in case you encounter any issues or wish to file complaints. Moreover, your investments won't be safeguarded by the Financial Services Compensation Scheme (FSCS). This means that your funds are at risk if the company faces financial difficulties or insolvency.

In response to these regulatory concerns, Bitfinex has taken measures to comply with UK law. As a result, customers based in the UK will experience changes in the availability of certain products and services on the platform. Some of these alterations include the inability of UK customers to create new referral codes within Bitfinex's Affiliate Program. Additionally, Bitfinex is actively working to remove specific services where necessary, and customers affected by these changes will receive timely notifications.