UK’s Financial Conduct Authority (FCA) has defended its tough regulatory environment for crypto businesses in an Oct. 21 blog post by Val Smith, the regulator’s head of payments and digital assets. In the post, Smith noted that industry experts have claimed that the UK’s “approach could stunt innovation” and it could also impact the country’s…
The DSS has the “potential to improve efficiency and reduce costs” in financial markets The sandbox will boost the UK’s position as a “vibrant financial centre” The DSS will operate until December 2028, but could be extended The Bank of England (BoE) and the UK’s Financial Conduct Authority (FCA) have launched a sandbox exploring new…
The UK is stepping into the future of finance with the launch of the Digital Securities Sandbox (DSS) on September 30, a collaborative initiative by the Bank of England and the Financial Conduct Authority (FCA). This innovative sandbox allows businesses to explore the transformative potential of digital ledger technology (DLT) in the realms of notary,…
Olumide Osunkoya has pleaded guilty to illegally running a crypto ATM network across the UK. Even though the UK Financial Conduct Authority (FCA) denied his registration, his operation handled millions in cryptocurrency transactions. This case represents the first conviction of its type under the UK’s anti-money laundering laws. UK’s First Illegal Crypto ATM Conviction Unveiled…
The UK’s crypto community has a reason for optimism with the new Labour government, according to Harry Horsfall. Backed by a large parliamentary majority, the Labour government is seen as potentially more decisive in pushing policies favourable to the Web3 industry. Horsfall, CEO of Flight3, which will host the Zebu Live Conference in October, also…
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs in the country. This case is significant as it represents the first prosecution under UK law for such activities. Osunkoya is accused of running a network of crypto ATMs that processed £2.6 million in transactions without registration, violating anti-money laundering…
An analyst believes that Ripple could soon get the UK’s FCA approval after successfully securing a stay on its monetary penalties. The XRP community expects Ripple to launch an Initial Public Offering (IPO) in London by 2025 after obtaining a license from the UK financial watchdog. Ripple Labs applied for a crypto asset firm license…
The UK Financial Conduct Authority (FCA) has revealed that over 87% of crypto registrations were either rejected, withdrawn, or refused as part of its ongoing efforts to combat fraud and enhance consumer protection. In its annual report, the FCA outlined new marketing rules for crypto assets. The regulator issued 450 consumer alerts against illegal crypto…
Nexo, a crypto lending platform known for offering instant crypto-backed loans and high-yield interest accounts, has resumed new user registrations in the United Kingdom after a 10-month hiatus, implementing enhanced user protections to comply with the Financial Conduct Authority (FCA) guidelines. The platform has introduced mandatory risk warnings, cool-off periods, and improved compliance measures to…