The U.K.'s financial watchdog warned that Sam Bankman-Fried's cryptocurrency exchange FTX is not authorized to offer its services in the country, it published in a recent notice.FTX "is not authorised by us and is targeting people in the UK," the Financial Conduct Authority warned.In the event that something goes wrong, U.K.-based customers' funds will unlikely be recovered since they are not protected by the Financial Services Compensation Scheme nor do they have access to the Financial Ombudsman Service. That applies to customers engaging with any unauthorized firm."Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised or registered by us," the FCA noted.In March, FTX's European arm considered expanding into U.K.
$285 Million in Bitcoin Shorts Wiped Out
