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
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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
Cleartoken Secures $10M in Funding to Pioneer UK’s First Digital Asset Clearing House
On Monday, the crypto clearing house startup Cleartoken revealed that it raised $10 million from strategic investors including Nomura’s Laser Digital, Flow Traders, and LMAX Digital. Cleartoken Nets $10M to Launch U.K. Digital Asset Clearing Services The horizontal clearing house for the digital asset market, Cleartoken, revealed that it’s raised $10 million in order to … Read more
UK FCA crypto skills gap is causing slow enforcement, says National Audit Office
The National Audit Office emphasized that it took nearly three years for the UK Financial Conduct Authority to address illicit activity in crypto ATMs across the country. Go to Source
UK regulator advocates for asset managers to tokenize funds
The United Kingdom’s financial regulator has endorsed a blueprint model designed to facilitate the tokenization of funds for asset management firms. Go to Source
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
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
