The ban follows warnings and concerns that financial information from TikTok could be misleading. The FCA has also expressed its concerns over young individuals being at risk in investing, taking their information from social media. The growing pressure has driven Google and other internet companies to take measures against scam ads showing on their platforms…
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Barclays' decision is expected to cause other banks to decide on how they will handle Binance. Both Natwest and Santander have made comments related to crypto exchanges recently, with Natwest taking the decision to decrease the daily limit that customers could make to crypto exchanges. This news from Barclays, as well as the decision by…
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Since January, crypto asset firms have had to register with the FCA, a measure designed to prevent money laundering and terrorist financing. Regulators across the world have strengthen their oversight on cryotocurrency. They have expressed concerns with crypto assets such as Bitcoin because of its volatility and risk to consumers and potential for money laundering…
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Coinbase also discussed in its press release the already thriving scene surrounding blockchain and noted that Germany is, in fact, the second-ranking country after the US when measuring the amount of Bitcoin nodes being processed. The announcement revealed that Coinbase Germany GmbH is due to be launched in the next few weeks, intending to serve…
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This huge blow to the crypto exchange giant comes as a reaction to a warning placed by the Japanese regulator, the FSA, which on Friday stated that Binance had been offering its crypto exchange services to customers in the country without ever having officially registered with the Financial Services Agency. The latest warning is the…
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The biggest difference between cryptocurrencies which function via decentralised systems and digital currencies run via central banks would be the fact that those from central banks would have the ability to pay out money to individuals on a direct basis, as the coins would be issued, backed and operated by domestic national banks. This would…
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The FCA stated: Enthusiasm for cryptoassets is growing with over half of crypto users saying they have had a positive experience so far and are likely to buy more (rising from 41% to 53%). Fewer people also regret having bought cryptocurrencies, down from 15% to 11%. The research reveals that 1 in 10 of the…
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Anti-money laundering and counter terrorist financing legislation are designed to protect against the transfer and disguise of funds from criminal activity, or funding of terrorist groups. The FCA stated in the official announcement: While this is not the only element that the FCA will assess in relation to an applicant, the FCA will only register…
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Alongside Arthur Hayes, charges were also made against co-founders Ben Delo, Samuel Reed and Greg Dwyer. Each of them was accused of violating the Bank Secrecy Act, as well as the conspiracy to violate the act as a group. Each of these offences will carry a maximum sentence of five years of prison time. Founders…
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The UK-based crypto firms now included under the new policy’s umbrella will be obliged to submit financial crime reports by the date specified by the FCA. The regulator first announced that these plans were taking shape in August last year, and stated that the upcoming policy was being refined in an attempt to take on…
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