Notice to UK Customers – Bitfinex blog

04 Jan Notice to UK Customers

Bitfinex announces that it has made the decision to remove the availability of our products and services in the United Kingdom for certain customers, in line with regulatory requirements. 

We previously communicated that UK residents who created an account on the Bitfinex platform on or after 1 November 2023 will no longer be eligible to apply for Individual account verification. This measure will continue to remain in place.

Going forward, Bitfinex will no longer be accepting applications for verification of corporate UK residents, with the exception of those who meet the definition of a high-net-worth company, unincorporated association or trust, or another relevant applicable exemption. 

‘High net worth’ carries a specific definition under the relevant legislation in the UK. If you are a corporate UK resident making an application for verification, we may request further information from you as part of your application in order to ensure you meet the eligibility requirements as a high net worth company, unincorporated association or trust, or another relevant applicable exemption. 

Notice of removal of certain services for existing UK customers

Effective from 10 January, 2024, certain existing UK Customers will no longer be able to make any new deposits, enter into new contracts, or increase existing margin positions. However, they can continue to reduce or close their positions, and withdraw their funds from our platform.

Who is affected?

Two types of customers will be affected:

1. All existing individual customers who are a UK resident; and
2. All existing corporate customers who are a UK resident and who do not fall into an exemption under the UK’s Financial Promotions Order, or other relevant UK legislation. If we understand you are not exempt, you will be notified separately by Bitfinex that effective from 10 January 2024, you will no longer be able to make any new deposits, create new contracts, or increase existing margin positions. However, you will continue to be able to reduce or close your positions, and withdraw your funds from our platform.

Who is not affected?

If you are a corporate UK resident who meets the criteria as a high net worth company, unincorporated association or trust, or other applicable exemption, you will remain unaffected by these changes. 

We apologise for any inconvenience this may cause and appreciate your support and cooperation with these matters.

If you have been contacted notifying you that you are an affected customer, or you have any questions or concerns regarding this matter, please reach out to our Customer Support team at https://cs.bitfinex.com/OI?subject=UK+restrictions .