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. Go to Source
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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 … Read more
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. Go to Source
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. Go to Source
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 … Read more
FCA busts suspects in $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. Go to Source
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 … Read more
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. Go to Source
UK Approves First Physically Backed Bitcoin and Ethereum ETPs for Listing on London Stock Exchange
The Financial Conduct Authority (FCA), the UK’s top financial regulator, has approved physically backed bitcoin and ethereum exchange-traded products (ETPs) for listing on the London Stock Exchange for the first time. “FCA approval in this respect could result in greater institutional adoption of the asset class,” Wisdomtree stated. First Bitcoin and Ethereum ETP Listings on … Read more
UK Shuts Down Crypto Advisory Firm for Misleading Investors and Poor Financial Records
The UK government announced this week that the Insolvency Service has secured a winding-up order against cryptocurrency advisory firm Amey Finance Academy Ltd at the High Court. The company, created by Desmond Amey in 2018, claimed to offer investment advice and financial education. However, complaints emerged that consumers lost money, and the Financial Conduct Authority … Read more
