What options are left for new UK users going forward?

[Raymondblue]

Crypto currency regulation has been a subject of debate over the last couple of years. The demand for regulation was heightened after the sudden collapse of FTX which still left an indelible mark in the hearts of many investors. Many crypto exchanges are now at the receiving end of this unfortunate event as many countries has tighten the regulatory approach for CEXs to operate in their domain.

Many top and reliable CEX like Binance and Bybit seems to be seriously affected looking at the volume and amount of users assets in the custody of these exchanges. With over $30B users assets in the custody of Binance, any problem from the exchange could resort to crisis in the crypto industry which could lead to prolonged bear market and users losing confidence in any CEX perhaps the reason many countries are now being rigid to regulate this crypto exchanges because prevention is better than cure.

The UK has obviously been one of the favourite destination for cryptocurrency exchanges but after the FCA crackdown, Binance has decided to stop accepting new users from the country. While it's a sad development for the users in that domain, I think this act could further deter the interest of new users from the UK or is their a next best alternative for the users?

 

[BashirJasper]

I believe with time, these exchanges will find a way to adjust and re-enter the market but that notwithstanding, UK users can switch platforms to exchanges staying behind like Bitget or they can use digital banks like monzo or revolut