If you're a Nexo customer looking to buy Bitcoin, you now have a relatively lengthy questionnaire to complete.
Our walkthrough video is here - this is for a customer who is:
- a restricted investor
- less than 5% of assets invested in cryptocurrency
- no professional qualifications relevant to the investment
- comfortable with losses
- not a 'vulnerable person' (see the video for the definition).
Remember - this is only necessary because FCA ignored the considered advice of industry experts and insisted, against the evidence to the contrary, that Bitcoin is a Restricted Mass Market Investment.
Bitcoin is many things, but an RMMI is not one of them. We will continue making this point to UK regulators.