Financial Conduct Authority Archives

UK digital asset industry needs tough regulations to ‘detoxify,’ FCA says

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13 March, 2023

UK digital asset industry needs tough regulations to ‘detoxify,’ FCA says

In a recent hearing before lawmakers, Financial Conduct Authority CEO and Chair Ashley Alder said that regulations are critical, but...

FCA takes further action against unregistered crypto ATMs in East London

Business

James Field

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10 March, 2023

FCA takes further action against unregistered crypto ATMs in East London

The Financial Conduct Authority is ramping up efforts to clamp down on unregistered crypto ATMs, working alongside the National Economic...

UK banks HSBC and Nationwide limits digital currency purchases with credit cards: report

Business

Wahid Pessarlay

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7 March, 2023

UK banks HSBC and Nationwide limits digital currency purchases with credit cards: report

HSBC and Nationwide are not the only banks with digital currency purchase restrictions in the U.K., as Santander, Lloyds Bank,...

UK’s FCA to clamp down on digital currency ATMs operating without permits

Business

Wahid Pessarlay

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18 February, 2023

UK’s FCA to clamp down on digital currency ATMs operating without permits

The Financial Conduct Authority said the law mandates all providers of digital currency services to seek registration with the regulators,...

UK is falling behind in digital currency race, former Chancellor says

Business

Gavin Lucas

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31 January, 2023

UK is falling behind in digital currency race, former Chancellor says

While Switzerland and the European Union are leading the race to become a digital assets hub, Philip Hammond believes the...

85% of UK firms applying for digital asset registration failed to meet minimum AML standards, FCA says

Business

Jordan Atkins

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30 January, 2023

85% of UK firms applying for digital asset registration failed to meet minimum AML standards, FCA says

The FCA revealed that 5% of firms that had applied for authorization were accepted on the first attempt, while 85%...

UK Lords: Broader regulation is needed to govern Bitcoin and digital currencies

Business

Gavin Lucas

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21 January, 2023

UK Lords: Broader regulation is needed to govern Bitcoin and digital currencies

After its second reading of the Financial Services and Markets Bill, members of the British House of Lords have voiced...

UK’s new tax break on digital assets seeks to attract foreign investors

Business

Steve Kaaru

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4 January, 2023

UK’s new tax break on digital assets seeks to attract foreign investors

The Rishi Sunak government will implement a tax exemption for foreign investors who purchase digital assets through local investment brokers...

Germany’s financial regulator warns users of Rtcoin’s unlicensed operation

Business

Wahid Pessarlay

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14 December, 2022

Germany’s financial regulator warns users of Rtcoin’s unlicensed operation

Rtcoin claims it has license to operate in Germany but a closer look at BaFin's database reveals otherwise, with British...

Bank of England deputy governor takes aim at FTX, code-is-law myths and so-called DeFi

Business

Jordan Atkins

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22 November, 2022

Bank of England deputy governor takes aim at FTX, code-is-law myths and so-called DeFi

While exploring the digital pound, BoE deputy governor John Cunliffe said the recent FTX collapse highlighted the need for financial...

UK’s new digital asset regime: No digital asset promotion without a license

Business

Jordan Atkins

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25 October, 2022

UK’s new digital asset regime: No digital asset promotion without a license

The Bill, with its latest amendments, is set to be debated on the floor of the House of Commons soon...

Revolut granted FCA license to offer digital asset services in UK

Business

Steve Kaaru

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30 September, 2022

Revolut granted FCA license to offer digital asset services in UK

Revolut was the only firm on the FCA’s temporary registration regime and is now licensed to offer digital asset trading...

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