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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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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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A complete list of the creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a myriad of companies and government entities wrapped up in its collapse. Late on Jan. 25, lawyers for FTX filed its creditor matrix to the United States Bankruptcy Court for the District
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The New York Department of Financial Services, or NYDFS, has released guidelines on how licensed crypto firms should handle customer assets should they face “insolvency or similar proceeding”.In a Jan. 23 announcement, NYDFS superintendent Adrienne Harris said crypto firms and exchanges operating under a BitLicense — required in New York
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After crypto exchange FTX's bankruptcy proceedings revealed poor segregation of customer funds, the New York regulator is reminding service providers to keep clean records. Source
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The Financial Markets Authority joins the country’s central bank and Senate in seeking to anticipate new EU laws. Source
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Several Ant-linked firms experienced a notable increase in the value of their shares after a Ma organizational development. The shares of Ant-linked firms jumped Monday on news that Ant Group founder Jack Ma is ceding control of the fintech giant. The Hong Kong-listed shares of Ma’s Alibaba Group closed 8.7% higher, while the shares of
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The host of Mad Money, Jim Cramer, says he expects the U.S. Securities and Exchange Commission (SEC) to do a roundup of crypto firms that are not compliant with regulation. Expecting the SEC “to sweep everything,” Cramer urges investors to “get out” of crypto now. Jim Cramer’s Latest Crypto Warnings The host
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