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The warning list serves as a clear message from the FCA, indicating that the included companies lack authorization or have failed to meet regulatory requirements for operating within the United Kingdom. On October 8, the UK’s Financial Conduct Authority (FCA) included 143 new entities in its warning list of unauthorized firms.
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The cryptocurrency custody firm, co-created by the crypto investment firm CoinShares, has recently received regulatory approval in the United Kingdom. In an Oct. 6 announcement, the company can now register as a custodian wallet provider under the Money Laundering, Terrorist Financing and Transfer of Funds regulations. Crypto custody services available Following this announcement, Komainu
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“You will appreciate we can't comment on specific firms but what we can say is that, of course, where firms are making decisions to actually get to the standards we want to see, that's really positive,” said Matthew Long, director of payments and digital assets at the FCA. Source
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The Financial Conduct Authority (FCA) issued a final warning to companies promoting crypto assets to UK consumers. This warning letter detailed the agency’s previous outreach efforts and endeavors to assist crypto firms in complying with the rules. A bolded final warning The UK government has brought forward legislation that would bring certain crypto
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The report, which follows allegations from broadcaster and former politician Nigel Farage that his bank account was shuttered over his political views, said "the most common reported reasons for personal and business account applications being declined, suspended or terminated were financial crime suspicions identified, due diligence concerns, and inactive/dormant accounts." Original
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Bybit’s approach is grounded in cooperation and compliance, seeking to create a harmonious relationship with UK regulators and authorities. Bybit, a prominent crypto exchange remains steadfast in its commitment to stay in the United Kingdom with CEO Ben Zhou reiterating that “leaving the UK is not part of our current strategy”. The
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The FCA announced in June that it would be classifying crypto as “restricted mass market investments”, which would require all crypto advertising and marketing media to contain clear warnings concerning the risks associated with crypto investments. Cryptocurrency exchange Luno will on 6 October temporarily halt some of its services in the
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“The FCA has implemented new rules for crypto firms. As a result, all compliant crypto firms with U.K. customers are making a number of changes to their platforms in order to comply with the new regulations,” Taylor said. “For Luno, this includes pausing the ability to invest through the platform
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied From Sep. 1, 2023, crypto businesses in the UK will be legally required to collect, verify, and share transfer information, under the so-called “Travel Rule.” This directive, endorsed by the Financial Action Task Force (FATF), seeks to
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Controversial new measures known as the travel rule, requiring crypto operators to identify the sender and recipient of funds transfers, are already legislated to take effect in the U.K. as of Sept. 1. While the money-laundering norms haven’t yet been fully implemented across the world, the U.K.'s upcoming stricter rules,
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