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When preparing their applications, crypto firms should include details of a business model, roles and responsibilities of business partners, and demonstrate comprehensive business-wide risk-assessment capabilities. It should also show that the business has policies, systems and controls to manage risk, the FCA said. Source
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"I think more importantly from a public's perspective, is that the way in which they bundle a whole set of activities which are normally segregated, in conventional finance gives rise to massively untoward risk," Alder said at the meeting talking about crypto firms. Source
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The United Kingdom’s Financial Conduct Authority, or FCA, has added cryptocurrency-friendly payments app Revolut to its list of companies authorized to offer crypto products and services in the country.In a Monday update to its list of registered crypto asset firms in the U.K., the FCA showed Revolut was in compliance
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The number of unregistered cryptocurrency-related businesses continues to outweigh those signed up with the United Kingdom’s Financial Conduct Authority. Crypto.com became the latest business from the cryptocurrency ecosystem to register with the FCA, joining a list of a confirmed 37 companies with the green light to offer services in the country.Just
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UK regulator the Financial Conduct Authority (FCA) has recruited almost 500 additional staff members this year as part of its new three-year strategy. Among the new hires are six directors, whose appointments were announced July 5. Two of them come from backgrounds in policing.Director of payments and digital assets is
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According to the report, some participants in the room thought that DeFi, which describes a range of blockchain-powered financial applications designed to cut out intermediaries and centralized institutions such as banks, should not be regulated due to the philosophical ambitions behind its creation. Original Source
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FCA Chief Executive Nikhil Rathi; the head of banking at HM Treasury, David Raw; and Jessica Rusu, the FCA’s chief data, information and intelligence officer, were all at the event, said Ian Taylor, a member of Crypto UK, a local trade organization. These attendees showed that the FCA was taking
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Sarah Pritchard, the executive director of markets at the United Kingdom’s Financial Conduct Authority, or FCA, reportedly said the regulator will look at the recent volatility in the crypto markets when creating rules for the space in 2022.According to a Friday Bloomberg report, Pritchard said the financial regulator will “absolutely”
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The FCA is holding a two day CryptoSprint where it will hear the crypto community's ideas on how it should regulate the sector. Original Source
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