What are the legal requirements for buying cryptocurrency in the UK?

1 answers

• Dec 27, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi is committed to complying with all legal requirements for buying cryptocurrency in the UK. To buy cryptocurrency on BYDFi, you'll need to complete the KYC process, which involves providing your personal information and verifying your identity. This is a standard procedure to ensure the security of your account and prevent fraud. Additionally, BYDFi is registered with the FCA, which means that it operates within the legal framework and provides a level of consumer protection. It's important to note that tax obligations may apply to your cryptocurrency investments. BYDFi recommends consulting with a tax professional to understand your tax liabilities and ensure compliance with the law.
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