hendore on Nostr: Follow up from previous note, after agreeing that I should not invest more than 10% ...
Follow up from previous note, after agreeing that I should not invest more than 10% of my net assets over the next 12 months 🙄 there was a quiz of about 9 questions to pass in order to continue, this will become standard practice for all exchanges operating in the UK with a final deadline of 8th January.
Questions varied a bit around rules exchanges follow in the UK, protection against losses, volatility, stable coins and even shitcoins. According to the FCA handbook and proposals users will see different questions each time as they are pulled from a pool of questions.
The on-ramp has now become so much steeper for new investors, I think these new changes will severly hinder new investors getting in and stunt growth in the UK. Consumers will also need to be reassessed every 12 months.
Honestly not sure how to feel with this, we know the risks, all of this seems overly excessive.
#bitcoin #fca #uk #globalhub
Published at
2024-01-04 05:06:15Event JSON
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"content": "Follow up from previous note, after agreeing that I should not invest more than 10% of my net assets over the next 12 months 🙄 there was a quiz of about 9 questions to pass in order to continue, this will become standard practice for all exchanges operating in the UK with a final deadline of 8th January.\n\nQuestions varied a bit around rules exchanges follow in the UK, protection against losses, volatility, stable coins and even shitcoins. According to the FCA handbook and proposals users will see different questions each time as they are pulled from a pool of questions.\n\nThe on-ramp has now become so much steeper for new investors, I think these new changes will severly hinder new investors getting in and stunt growth in the UK. Consumers will also need to be reassessed every 12 months. \n\nHonestly not sure how to feel with this, we know the risks, all of this seems overly excessive.\n\n#bitcoin #fca #uk #globalhub https://image.nostr.build/7f85ffcde6d9f9d9495f3f1fce25f068d225c3547c2b98136cf3d31cb7e78798.jpg ",
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