Bitfinex Will Discontinue Products and Services for Certain of Its UK Clients

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Last Updated on January 9, 2024 by Bitfinsider

Bitfinex will discontinue the offering of goods and services to select UK clients in order to comply with local regulatory obligations.

The modifications will apply to all current individual customers who are UK citizens, as well as all existing corporate customers who are UK residents but do not qualify for an exemption under the UK’s Financial Promotions Order. Bitfinex also announced that new UK-based customers who opened accounts on the platform on or after November 1, 2023, would no longer be able to request for individual account verification.

The cryptocurrency exchange said that from January 10, some current UK clients would be unable to make new deposits, engage into new contracts, or raise existing margin positions. Customers will be allowed to continue to decrease or cancel positions, as well as withdraw monies from the site.

Bitfinex said that corporate UK citizens that fulfill the particular requirements of a high net worth business, unincorporated organization, or trust would be unaffected by the amendments.

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