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UK Regulator Extends Temporary Registrations Regime as Crypto Firms Fail to Meet AML Rules
4.6.2021
Many companies operating with cryptocurrencies are not meeting anti-money laundering regulations, the U.K.’s Financial Conduct Authority revealed. The government agency has extended its temporary registration scheme after facing a growing number of crypto firms that are withdrawing their...
Diginex's crypto custody arm receives green light from UK financial watchdog
14.5.2021
The firm said clearing the regulatory hurdle had the potential to drive more institutional investors towards crypto custody solutions
New Zealand Watchdog Issues Warning on Crypto Investments Following Bitcoin’s Latest Price Drop
13.1.2021
New Zealand’s financial regulator issued a warning alert to local cryptocurrency investors and traders amid the recent bitcoin’s price action. The Financial Markets Authority (FMA) asks people to remain cautious because cryptos are “high risk and highly volatile assets.”...
UK Government Asks Crypto Industry to Provide Insights on Its Regulatory Approach
12.1.2021
Her Majesty’s Treasury in the U.K. issued a document that details a series of proposals addressing the crypto community. With the consultation, the Treasury is initiating a “regulatory approach to cryptoassets and stablecoins” for 2021 following the Brexit turmoil. Special Focus...
UK’s Ban on Crypto Derivatives Goes Into Effect Today
6.1.2021
The Financial Conduct Authority ban on the sale of derivatives and exchange-traded notes was passed in October
European Commission Opposes Crypto Fraud Compensation Fund: Victims Say Commission Cozying up to the Industry
21.10.2020
The European Commission (EC) is opposing the creation of the crypto crime victim superfund to be financed with $0.0001 per dollar on all cryptocurrency transactions occurring within the EU. The Commission says that it does not have the competence to set up and administer such a fund. It also argues...
97% of People Consulted by UK Financial Regulator Opposed Crypto Derivatives Ban
8.10.2020
The Financial Conduct Authority (FCA) ban on crypto derivatives sales to retail investors has set tongues wagging. It is no mystery. After a consultation process that closed Oct. 3, 2019, with 97% of participants opposed to the prohibition, the U.K. financial regulator still proceeded to issue...
UK Bans Sale of Crypto Derivatives to Retail Investors, Says Move to Save $69 Million in Losses
7.10.2020
The U.K.’s Financial Conduct Authority (FCA) has banned the sale of cryptocurrency derivatives products to retail investors in a move that it says will save the targeted customers £53 million ($68.9 million) in losses each year. The ban comes into effect on January 6, 2021. In...
UK Digital Bank Ziglu Launches P2P Payments for Bitcoin and Bitcoin Cash
7.9.2020
London-based challenger bank Ziglu said Monday that it has been licensed as an Electronic Money Institution (EMI) by the U.K.’s Financial Conduct Authority. After receiving the permit, the fintech start-up immediately launched peer-to-peer (P2P) payments for both crypto and fiat currencies....
Reports Claim UK’s Financial Conduct Authority ‘Pressurized’ to Remove Onecoin Scam Warning
8.8.2020
A recent episode of the popular BBC Sounds podcast the “Missing Cryptoqueen” has shown the public a very interesting view of the powerful Onecoin Ponzi. According to two witnesses the BBC interviewed, a London law firm and a reputation management company allegedly managed to get...
Wirex Approved to Issue Mastercard-Backed Bitcoin Debit Cards
20.7.2020
Mastercard said Monday it had granted Wirex principal membership status, becoming the “first” native cryptocurrency outfit to do so. The membership allows Wirex, a London-based digital payments firm, to issue payment cards directly to consumers, making it easier for people to buy, hold...
Crypto Facilities Gets FCA Nod to Set up Crypto Futures Venue
8.7.2020
Crypto Facilities, a subsidiary of Kraken cryptocurrency exchange, has obtained a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA). An MTF is a European regulatory term for a self-regulated financial trading venue. MTFs are an alternative to...
Kraken-Owned Crypto Facilities Wins UK License to Offer Derivatives Trading
6.7.2020
The subsidiary of cryptocurrency exchange Kraken has obtained a U.K. license allowing it to operate its derivatives platform in the EU
A ‘Significant Increase’: UK Regulator Says 2.6 Million Residents Have Bought Cryptocurrencies
2.7.2020
The UK’s top financial regulator has conducted a survey and found a “significant increase” in the number of crypto owners and awareness of cryptocurrencies. The regulator estimates that 2.6 million people in the country have bought cryptocurrencies, most of which were from non-UK...
Wirecard: Crypto Card Users’ Funds Locked as UK Regulator Suspends Subsidiary
27.6.2020
UK Financial Conduct Authority (FCA) on Friday suspended the license of Wirecard Card Solutions (WCS), a unit of troubled Wirecard AG, which is responsible for issuing Visa cryptocurrency debit cards. It means some users of cards such as Crypto.com’s Mco visa debit card and Tenx’s visa...
UK’s FCA Suspends Epayments Service – Over £100M Frozen and Alleged Onecoin Connection
27.2.2020
Epayments, one of the largest payment providers in the U.K., has halted operations after the Financial Conduct Authority (FCA) suspended the company for “weaknesses” related to its anti-money-laundering (AML) process. Since Epayments shut down on February 11, customers have been...
UK Crypto Startups to Pay Discounted £2,000 Fee for Registration, FCA Revises Application Charges
5.2.2020
Young and small cryptocurrency businesses will pay lower registration fees than big companies, the United Kingdom’s financial watchdog has decided after consultations with members of the industry. The revised fee scheme takes into account the firms’ income to determine the amount...
Gemini Hires Former Starling Bank Founder as Managing Director of Europe
4.12.2019
The exchange hired Julian Sawyer, former co-founder and chief operating officer of a U.K. digital bank, to shape the exchange’s strategy in the region and manage European hiring
UK Regulator Ramps up Crypto Investigations and Considers KYC for Wallets
8.10.2019
The U.K.’s Financial Conduct Authority (FCA) has been relentlessly scrutinizing cryptocurrency startups and investigations are up 74% from last year. Meanwhile, proponents of decentralized software development models and open collaboration are upset about the FCA aiming to extend KYC/AML...