Nexo has announced that it will resume new user registrations in the United Kingdom after a pause of 10 months in its onboarding process.
The crypto lending platform has made significant updates to comply with the regulatory guidelines set by the UK’s Financial Conduct Authority (FCA).
According to a spokesperson, Nexo’s new onboarding flow is in line with the FCA’s guidelines, with a focus on safeguarding investors by promoting awareness of risks.
The spokesperson stated that the new process includes a mandatory and detailed risk warning, a waiting period, and FCA-compliant assessments to ensure users fully understand the risks associated with cryptocurrencies and Nexo’s products.
In December 2023, Nexo suspended new user registrations in the UK in order to implement the necessary regulatory changes and become more compliant with the FCA’s requirements.
