08/11/2019 By Stark Payments

Last updated: 1st October 2019

Risks with cryptocurrencies

As a business you must be satisfied that accepting cryptocurrency as a payment method is suitable for you in light of your personal or commercial financial circumstances and attitude towards risk before starting. The price or value of cryptocurrencies can rapidly increase or decrease at any time (and may even fall to zero). The risk of loss in holding cryptocurrencies can be substantial.

Any funds received by us in relation to cryptocurrency transactions will not be safeguarded (under the UK Electronic Money Regulations 2011) or covered by the Financial Services Compensation Scheme. We do not make any representation regarding the advisability of accepting or transacting in cryptocurrency. We cannot guarantee the timeliness, accurateness, or completeness of any data or information used in connection with you holding any exposure to cryptocurrencies.

Currently, there is no requirement for Stark Payments Ltd to be regulated by the Financial Conduct Authority (FCA). As and when there is a requirement to be so, we will undertake measures to ensure full compliance, therefore Stark Payments Ltd’s cryptocurrency service is not regulated by the FCA.

FCA – Further Reading

Read > FCA provides clarity on current cryptoassets regulation (opens in a new window or tab)