The UK’s Financial Conduct Authority issued a consumer warning on Sam Bankman-crypto Fried’s exchange FTX on Friday, stating that it is not allowed by the regulator to offer financial services or products in the country. According to the regulator’s website, FTX is “targeting people in the UK,” and investors are “unlikely to receive your money back if things go wrong” because they will not be covered by the country’s ombudsman service and compensation program. The FCA previously issued a similar warning on Binance, another large global cryptocurrency exchange, and its activity in the United Kingdom.
