According to a Bloomberg report, Binance, the world’s largest cryptocurrency exchange by trading volume, is encountering obstacles to re-enter the United Kingdom (UK) market. Local partners in the UK have reportedly shown reluctance to work with Binance due to “regulatory opposition,” hampering the exchange’s plans to regain a foothold in the country. UK Firms Reject […]
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 […]
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 […]
Crypto.com Soars With UK Regulatory Approval, Introduces New Product Offering As Authorized EMI | Bitcoinist.com
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Singapore-based cryptocurrency exchange Crypto.com has obtained authorization from the UK’s Financial Conduct Authority (FCA) to act as an electronic money institution (EMI). According to a December 4 announcement, this new license allows Crypto.com to broaden its product offerings in the UK market. Crypto.com Receives EMI Authorization With the EMI authorization, Crypto.com can now provide a […]
According to a Reuters report, European Central Bank (ECB) President Christine Lagarde revealed that her son experienced substantial losses in his crypto investments, disregarding numerous warnings. Lagarde, a vocal critic of cryptocurrencies, has expressed concerns about their speculative nature, lack of intrinsic value, and potential misuse by criminals for illicit activities. ECB Chief Urges Need […]
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 […]
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 […]