Cryptocurrency Analysis and News Portal
Under the new rules, crypto will be classified as “restricted mass market investments,” which will require any advertisements or promotions to contain “clear risk warnings,” and bans incentives to invest such as “refer a friend” or “new joiner bonuses,” the regulator said. Source
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The rule will allow the Financial Conduct Authority (FCA) to regulate crypto companies under the existing promotions law, and should help safeguard consumers from misleading crypto promotions, the Treasury, the government's finance arm, tweeted in March. Source
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From being seen as a small “anti-establishment rebellion asset” more than ten years ago, crypto has grown to “become more widespread,” says Sarah Pritchard, an executive director at the United Kingdom’s Financial Conduct Authority (FCA). Pritchard said while the FCA has routinely warned consumers of risks associated with crypto, the
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Officials of the United Kingdom’s Financial Conduct Authority (FCA) appeared before the House of Commons’ Treasury Committee on March 8 to discuss the agency’s work. Among the issues raised was cryptocurrency regulation, which the officials approached with a clear lack of enthusiasm.FCA chair Ashley Alder, who took that position
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The country’s financial regulator, the FCA currently has powers to ensure crypto companies register and comply with anti-money laundering rules, but it doesn't have the ability to protect consumers from any losses they might suffer. While the Financial Services and Markets Bill that’s currently under debate in parliament and is
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Katharine Wooller, Business Unit Director at Coincover Thinks the FCA is taking an incouraging step. She feels that the UK’s approach to regulation has been sluggish, so she thinks more proactivity to protect users is a positive step. “Trust in cryptocurrencies has collapsed once again following the FTX scandal. And if
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The United Kingdom’s financial regulator, Financial Conduct Authority (FCA), is coming for unregistered cryptocurrency automated teller machines (ATMs).THe FCA and the cyber team at West Yorkshire Police have taken action against several sites in and around Leeds city suspected of hosting illegally operated crypto ATMs.Announcing the news on Feb. 14,
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The FCA said a crypto asset business registered under the MLRs with the agency could conduct the promotion. The UK Financial Conduct Authority (FCA) has warned crypto companies within the nation to get ready for new rules on crypto asset promotions. The financial watchdog released a statement on the 6th of
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Some of those investigations into financial crime or "direct links to organized crime" are ongoing, an official at the Financial Conduct Authority said. Source
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Despite the plans to turn the region into a bustling crypto hub, the United Kingdom’s financial watchdog says it has given the all-clear to only 41 out of 300 crypto firm applications seeking regulatory approval to date.The U.K. Financial Conduct Authority (FCA) implemented the new cryptocurrency-focused regulations on Jan. 10,
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