Telegram Wallet temporarily blocked for UK users due to restructuring
Telegram users in the United States are also restricted from using the platform’s in-app wallet due to financial regulations. Go to Source
FCA
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Web3 Innovator: UK Crypto Community Sees Brighter Future Under Labour Government
The UK’s crypto community has a reason for optimism with the new Labour government, according to Harry Horsfall. Backed by a large parliamentary majority, the Labour government is seen as potentially more decisive in pushing policies favourable to the Web3 industry. Horsfall, CEO of Flight3, which will host the Zebu Live Conference in October, also … Read more
FCA Files First Charges Against Unregistered Crypto ATM Operator in UK
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs in the country. This case is significant as it represents the first prosecution under UK law for such activities. Osunkoya is accused of running a network of crypto ATMs that processed £2.6 million in transactions without registration, violating anti-money laundering … Read more
Owner of unlicensed UK crypto ATM network faces criminal charges
The FCA is throwing the book at the head of GidiPlus Limited for operating an ATM network after being denied registration. Go to Source
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The UK Financial Conduct Authority (FCA) has revealed that over 87% of crypto registrations were either rejected, withdrawn, or refused as part of its ongoing efforts to combat fraud and enhance consumer protection.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 … Read more
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
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
