A sanctioned “Russian oligarch”, Mikhail Klyukin, has come under scrutiny for allegedly evading sanctions by selling over £15 million worth of shares in a crypto firm chaired by former UK Chancellor Philip Hammond. The transaction, which involved transferring the funds into cryptocurrency, is believed to have been an attempt to circumvent US sanctions. Crypto Company […]
According to a report by the Financial Times, Meta (formerly known as Facebook) has publicly apologized to Qatari billionaire Wissam al Mana and pledged to provide additional safeguards after his image was exploited in crypto scam advertisements on the platform. The prominent businessman, also known as the former husband of pop star Janet Jackson, took […]
In a significant development for the institutional adoption of digital assets, M&G Investments, the asset management arm of pensions giant M&G Plc, has invested $20 million in a UK-based crypto derivatives trading platform. The move represents a step forward in restoring institutional confidence in the crypto market following the collapse of FTX last year, according […]
Crypto Regulatory Failures: FCA’s Slow Enforcement And Staffing Woes Draw Criticism | Bitcoinist.com
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The UK’s Financial Conduct Authority (FCA) is facing criticism from the country’s National Audit Office (NAO) for its sluggish approach to enforcing crypto laws and a shortage of staff with expertise in cryptocurrencies. In a recent report published by the NAO, an independent entity responsible for scrutinizing public spending, it highlighted the potential impact of […]
Tether (USDT), the largest stablecoin issuer in the world, is finding its banking partner, Britannia Financial, at the center of a legal battle. Arbitral International, a British Virgin Islands corporation, is suing Britannia over a $1 billion Tether deposit. Tether’s Banking Choice Backfires According to a recent Financial Times report and court filings in the […]
In a bid to “safeguard consumers,” the UK Financial Conduct Authority (FCA) has issued a warning regarding “common issues” observed in crypto asset promotions. With the implementation of a new marketing regime, the FCA has asserted its authority over crypto promotions in the UK. FCA Unveils Alert List To Expose ‘Non-Compliant Crypto Entities’ The FCA has […]
Among the countries across the globe vying for dominance in the evolving crypto market, the United Kingdom has recently made its mark. The recent influx in crypto activity in the UK, according to a study by Chainlaysis, comes in the wake of increased regulations targeting the digital currency and stablecoin sectors. The study highlighted the UK’s soaring […]
In a significant development, Binance, the world’s largest cryptocurrency exchange, announced the suspension of access to its platform for new users in the United Kingdom. According to a Bloomberg report, the move comes after the termination of a partnership with a third-party firm responsible for approving communications on the exchange, as mandated by the UK’s […]
Two crypto industry giants, Binance and Coinbase, have recently adjusted to align with the United Kingdom’s crypto regulations to continue their operations in the country. These changes are pivotal in the crypto industry’s journey as countries grapple with integrating digital assets into their financial systems worldwide. The FCA’s Stance On Crypto The Financial Conduct Authority (FCA), […]