UK Regulator: 87% of Crypto Firms Fail to Meet Registration Requirements
The UK Financial Conduct Authority (FCA) has revealed that over 87% of crypto registrations were either rejected, withdrawn, or refused as part of its ongoing efforts to combat fraud and enhance consumer protection. In its annual report, the FCA outlined new marketing rules for crypto assets. The regulator issued 450 consumer alerts against illegal crypto […]
87% of crypto registrations failed in UK over ‘weak’ fraud, AML controls
Only 4 out of 35 crypto business registrations were accepted by the UK Financial Conduct Authority citing concerns with money laundering adherence.This post was originally published on this site
Nexo Reopens UK Registrations With Enhanced User Protections
Nexo, a crypto lending platform known for offering instant crypto-backed loans and high-yield interest accounts, has resumed new user registrations in the United Kingdom after a 10-month hiatus, implementing enhanced user protections to comply with the Financial Conduct Authority (FCA) guidelines. The platform has introduced mandatory risk warnings, cool-off periods, and improved compliance measures to […]
Crypto platform resumes UK registrations after 10-month FCA compliance pause
The crypto lending platform took the 10-month pause to realign its onboarding process with the FCA’s guidelines oriented towards investor protection.This post was originally published on this site
UK’s FCA provides more guidance on crypto promotion compliance
The financial regulator is trying to bring companies offering crypto services into line with requirements that came into force in October.This post was originally published on this site
UK Regulator Fines Coinbase’s CB Payments $4.5 Million for Serving High-Risk Customers
The UK Financial Conduct Authority (FCA) has fined Coinbase’s payments arm, CB Payments Limited, £3,503,546 for breaching compliance rules by serving high-risk customers despite restrictions. The regulator explained that this marks the FCA’s first enforcement action against a firm facilitating cryptoasset trading. The violations involved significant transactions undetected for almost two years. FCA Fines Coinbase’s […]
FCA busts suspects in a $1.2B illegal crypto asset business
FCA arrests two suspects involved in a $1.2 billion illegal crypto asset exchange, highlighting the agency’s efforts to combat financial crime. This post was originally published on this site
FCA busts suspects in a $1.2B illegal crypto asset business
FCA arrests two suspects involved in a $1.2 billion illegal crypto asset exchange, highlighting the agency’s efforts to combat financial crime. This post was originally published on this site
UK Crackdown: Illegal Crypto Exchange Operators Arrested in £1 Billion Trading Bust
The UK Financial Conduct Authority (FCA), in collaboration with the Metropolitan Police Service, conducted an operation leading to the arrest of two individuals, aged 38 and 44, suspected of running an illegal crypto asset exchange. It is believed that over £1 billion of unregistered crypto assets were traded through this business, the FCA said on […]
UK crypto industry publishes Travel Rule navigation guide
The Travel Rule requires crypto businesses to collect, verify and share information about digital asset transactions with another crypto company.This post was originally published on this site