The UK’s Financial Conduct Authority (FCA) has added cryptocurrency exchange Poloniex, associated with Tron creator Justin Sun, to the list of so-called unauthorized companies.
The blacklisted organizations’ activities do not meet the regulator’s requirements and could harm U.K. users, the office said.
The exact reasons for the decision regarding Poloniex were not announced, but it said that “firms and individuals cannot promote financial services in the UK without the necessary authorization or approval”. There are now 143 firms on the FCA’s blacklist of untrustworthy companies.
Eleanor Ashworth is editor-in-chief at BTCNews. A Cambridge-trained journalist with 18 years across the Financial Times, Reuters and the Telegraph, she joined the crypto beat in 2017 after covering the Bank of England and HM Treasury. She holds the SABEW Best in Business award (2022) and was shortlisted for the British Journalism Awards (2023). At BTCNews she sets the editorial line for Bitcoin and macro markets coverage, with a focus on institutional adoption, regulation and central-bank policy. Based in London.
