A Financial Conduct Authority (FCA) official has emphasized the importance of high regulatory standards for crypto asset registrations. She defended the UK’s stringent rules, aiming to protect consumers and financial markets while fostering a competitive crypto sector. The regulator warned against relaxing standards, advocating instead for collaboration to build a secure foundation for sustainable innovation…
The U.S. Securities and Exchange Commission (SEC) has charged Cumberland DRW LLC, a Chicago-based firm, for operating as an unregistered dealer in over $2 billion of crypto assets classified as securities. The SEC claims that Cumberland violated federal securities laws by failing to register, raising concerns over investor protection. The charges seek injunctive relief and…
The U.S. Securities and Exchange Commission (SEC) has charged Flyfish Club for conducting an unregistered offering of crypto asset securities through non-fungible tokens (NFTs), raising $14.8 million for an exclusive restaurant project. “Flyfish agreed to a cease-and-desist order, to pay a $750,000 civil penalty, and to comply with certain undertakings,” the regulator noted. SEC Charges…
The UK Financial Conduct Authority (FCA) has revealed that over 87% of crypto registrations were either rejected, withdrawn, or refused as part of its ongoing efforts to combat fraud and enhance consumer protection.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…