Nils Silinevics
Partner · AML & Crypto Compliance · Former FIU Investigator
HitBTC is not registered with Financial Conduct Authority (FCA) — but your funds are not lost. Swiss lawyers submit directly to HitBTC's compliance team, bypassing standard support. 90%+ success rate.
HitBTC is not FCA-registered
FCA's cryptoasset register is mandatory — only registered firms can market crypto to UK consumers; FCA has warned 300+ firms for operating without registration
This matters because it determines which regulatory body has authority over your case — and whether you have a direct complaint path or need cross-jurisdictional legal action.
What this means for you: HitBTC is not registered with Financial Conduct Authority (FCA), so direct regulatory complaints are limited. However, HitBTC still operates under its home jurisdiction's AML laws (no major regulatory license). We submit legal documents directly to HitBTC's compliance team — not through standard support channels.
Your funds are not illegal. Using an unregistered exchange in United Kingdom does not make your crypto holdings illegal under Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. You may face tax reporting obligations, but the funds themselves are yours.
under MLR 2017, you can complain to the Financial Ombudsman Service (FOS) if the exchange is FCA-registered — FOS can award up to £430,000 compensation
Under Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLR 2017, amended), HitBTC must conduct customer due diligence and can freeze accounts during AML investigations. However, they must also:
If HitBTC doesn't meet these obligations, we escalate to Financial Conduct Authority (FCA) and file a formal legal submission. For a broader comparison of how United Kingdom's rules stack up against other jurisdictions, see our AML laws by country reference.
capital gains tax (10% or 20%) on gains above £3,000 (2024-25 allowance); income tax if trading
If your HitBTC account is frozen, you may still need to declare your crypto holdings on your United Kingdom tax return — even if you can't access them. Under United Kingdom law, the tax obligation may apply regardless of whether the funds are accessible. We recommend consulting a British tax advisor.
If the freeze causes you to miss a tax deadline, we can provide documentation for the Financial Conduct Authority (FCA) and tax authority explaining the situation.
A British client's bank blocked a fiat withdrawal from HitBTC to their United Kingdom bank account. The bank cited Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLR 2017, amended) and requested source-of-funds documentation. We coordinated between HitBTC, the bank, and Financial Conduct Authority (FCA) to resolve the compliance hold. We resolved the case by filing a complaint with Financial Conduct Authority (FCA) and simultaneously submitting documentation to HitBTC.
Details anonymized to protect client confidentiality. Swiss professional secrecy applies.
We analyze your HitBTC account, transaction history, and United Kingdom regulatory context to identify the exact trigger. Was it a Chainalysis risk flag? A sanctions screening match? A source-of-funds demand? Each requires a different strategy.
We prepare documentation compliant with Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 — not just HitBTC's standard templates. This includes source-of-funds proof, transaction tracing, and any required Financial Conduct Authority-specific forms.
We submit through HitBTC's compliance channels — not standard support. Our submission is in English and references Financial Conduct Authority guidelines. We coordinate with Financial Conduct Authority even though HitBTC is not registered.
We verify everything works and advise on preventing recurrence on HitBTC. If HitBTC doesn't respond within no statutory maximum, but FCA expects firms to resolve AML investigations within 30 days, we escalate to Financial Conduct Authority and pursue cross-jurisdictional action in Hong Kong (formerly UK) if needed.
Tell us what happened. A senior crypto compliance lawyer — not a chatbot, not a junior — will read your case and respond within 6 hours. Swiss professional secrecy applies from your first message.