Crypto firms have already breached new UK promo rules 221 times, says FCA
Many of the firms the FCA warned were breaching the new rules appear to be dubious high-yield return schemes, but legitimate firms have seen warnings too. Go to Source
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Binance halts onboarding of new UK users
The move comes after the Financial Conduct Authority imposed restrictions on its U.K. partner REBS. Go to Source
Bybit will suspend services in UK following financial regulator’s ‘final warning’
Headquartered in Dubai, crypto exchange Bybit said it will suspend services to residents of the United Kingdom starting in October due to “regulatory changes”. Go to Source
Crypto memes can be considered financial promotions, says UK watchdog
Memes found to be non-compliant with financial promotion rules could carry up to two years in jail under a proposal from the FCA. Go to Source Powered by WPeMatico
Crypto Has Evolved From Being Seen as an ‘Anti-Establishment Rebellion Asset’ Says FCA Executive Director
From being seen as a small “anti-establishment rebellion asset” more than ten years ago, crypto has grown to “become more widespread,” says Sarah Pritchard, an executive director at the United Kingdom’s Financial Conduct Authority (FCA). Pritchard said while the FCA has routinely warned consumers of risks associated with crypto, the watchdog has “always been open … Read more
UK financial watchdog to crypto industry: ‘Let’s work together’
The Financial Conduct Authority wants input from crypto companies on moving forward with regulations. Go to Source Powered by WPeMatico
London Stock Exchange’s LCH SA to Clear Bitcoin Futures and Options on GFO-X Through New Service
On April 13, 2023, the London Stock Exchange’s LCH division, a clearing house group serving major international exchanges and a wide range of over-the-counter (OTC) markets, announced its plans to offer clearing of bitcoin index futures and options contracts traded on GFO-X. Frank Soussan, the business lead at LCH Digital Asset Clear, stated during the … Read more
UK Widens Crackdown on Unauthorized Crypto ATMs
Britain’s top financial regulator, the Financial Conduct Authority (FCA), has widened its crackdown on unauthorized cryptocurrency ATMs. “There are currently no crypto ATM operators registered with the FCA, which they must be to operate legally,” the regulator noted. FCA Cracks Down on Illegal Crypto ATMs Britain’s top financial regulator, the Financial Conduct Authority (FCA), announced … Read more
Crypto firms could face 2 years jail for breaching UK advertising laws
Crypto firms in the United Kingdom could face some harsh punishments under the FCA’s proposed financial promotions regime. Go to Source Powered by WPeMatico
Crypto scammers abuse ‘lax’ UK company laws to fool victims: Report
A report suggests companies are able to register in the U.K. very easily, making them appear more credible to potential scam victims. Go to Source Powered by WPeMatico