Crypto exchange CEX.IO has announced the expansion of its services in the UK by launching spot trading for customers in the region.
Launch of Spot Trading in the UK
CEX.IO has enabled spot trading for UK-based users. This allows exchange clients to trade over 100 cryptocurrencies, including Bitcoin and top altcoins, as well as leading meme coins like Official Trump, Dogecoin, and PEPE. Rich Evans, managing director of CEX.IO in the UK, stated: “By providing UK customers with access to our Spot Trading platform, we substantially expand existing liquidity propositions in the region, promoting a more cost-effective trading experience and a healthier trading environment.”
CEX.IO's Return to the UK
The launch of spot trading aligns with CEX.IO's return to the UK in September 2024. The exchange had halted operations in October 2023 due to regulatory requirements for crypto companies to register and comply with standards. The reentry enabled users to buy, sell, and convert crypto assets, signifying a step toward compliance with anti-money laundering policies and the Financial Conduct Authority's regulations.
Regulation and Licensing in the EU
Amidst increased regulation in the EU, crypto exchanges are seeking licensing. The adoption of the Markets in Crypto-Assets (MiCA) framework allows virtual asset service providers to offer their services throughout the bloc, facilitating legal and efficient provision of solutions across the European Union.
CEX.IO's expansion of services in the UK and the introduction of spot trading highlight the company's commitment to meeting regulatory standards and actively developing its presence in the European market.
