FCA

European AML Directive Pushes Crypto Startup Bottle Pay Out of Business

Bottle Pay, a cryptocurrency payments provider from the U.K., has announced its decision to cease operations by the end of the year. Despite attracting some serious funding and expanding its user base significantly in the past few months, the company has found it unacceptable to continue to work under the upcoming EU regulations. AMLD5, the...
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Robinhood Expands Commission-Free Crypto Trading to 8 Additional U.S. States

Now residents in 47 U.S. states have access to trading 7 digital assets free of charge on the Robinhood platform. The Robinhood investment app platform has just announced that its Robinhood Crypto feature has just added more U.S. states to its platform. Previously servicing 39 states, the 8 new additions now mean that Robinhood Crypto...
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Crypto Derivatives Ban: UK Govt Won’t Interfere with FCA Decision

The UK government says it has no power to interfere with any decision by the Financial Conduct Authority (FCA) regarding the fate of crypto derivatives. This report comes amid speculation that the financial watchdog is moving to ban crypto derivatives over investor protection concerns. Meanwhile, several stakeholders have urged the FCA to reconsider its stance...
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UK Govt Official Swats Question on Proposed Crypto Derivatives Ban

The decision over whether to ban the sale of crypto derivative products to retail customers in the UK will be determined solely by the financial regulator. This was the message delivered by Economic Secretary to the Treasury, John Glen, in an answer to a question posed by the Member of Parliament for Shipley, Philip Davies....
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‘No-Deal Brexit Huge Positive for UK Cryptocurrency’ – How Brexit Could Affect the Industry

British lawmakers have voted to postpone a crucial Brexit vote and forced Prime Minister Boris Johnson to ask the EU for an extension. News.Bitcoin.com talked to the CEO of a local crypto exchange to find out the effects a no-deal Brexit could have on the crypto industry. Also read: SEC Wants Second Look at Bitwise...
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Crypto Derivatives Ban Is Not a Good Idea, Says WFE

The World Federation of Exchanges (WFE) has faulted the reported plan by UK regulators to ban crypto derivatives. This message comes after UK’s top financial regulatory body revealed it had concluded deliberations on the matter and may ban trading on crypto derivatives from 2020. Meanwhile, authorities in the UK say crypto scams continue to grow...
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ICE, NASDAQ, CME Urge FCA Not to Restrict Crypto Derivatives for Retail Investors

The WFE, which scouts together over 70 exchanges, including the London Stock Exchange Group, Deutsche Borse, NASDAQ, and Intercontinental Exchange, has requested FCA not to illegalize cryptocurrency derivatives. The World Federation of Exchange (WFE), which is made up of the globe’s giant stock exchanges such as Deutsche Boerse, the London Stock Exchange, Korea Exchange, CME...
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UK Regulator Ramps up Crypto Investigations and Considers KYC for Wallets

The U.K.’s Financial Conduct Authority (FCA) has been relentlessly scrutinizing cryptocurrency startups and investigations are up 74% from last year. Meanwhile, proponents of decentralized software development models and open collaboration are upset about the FCA aiming to extend KYC/AML regulations to the publication of open source and zero-knowledge software. Also Read: McAfee to Launch Decentralized...
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FCA Launched 87 Investigations Against Crypto Business In 12 Months

The state of crypto in South Korea has been a hot topic lately mostly because of the crypto laws which have toughened up over the past few months. The truth is that South Korean regulators seem to strongly favor blockchain over cryptocurrencies and many events have proven this hypothesis.According to local reports in the crypto...
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UK Consumers Lost $33.29M to Bitcoin Scams: FCA

Consumers in the United Kingdom lost at least £27 million (~$33.29 million) to scams involving cryptocurrencies like bitcoin, reveals the country’s watchdog.The Financial Conduct Authority (FCA) said the amount of crypto– and foreign-exchange related crimes have increased by 74 percent this year. The authority added that it now has 87 inquiries compared to 50 during...
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UK Finance Watchdog’s Crypto Investigations Up By 74% in 2019

The number of investigations into cryptocurrency firms by the U.K.’s financial regulator, the Financial Conduct Authority (FCA), have seen a sharp rise in the last year. The Financial Times said on Monday that it had obtained information indicating that the FCA is now looking into 87 firms in the space, either as part of initial scrutiny...
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FCA Cryptocurrency Scam Probes Up 74% in 12 Months

UK regulators are increasingly shinning the spotlight on cryptocurrency businesses to root out bad actors. Combating Cryptocurrency Scams According to The Telegraph, the Financial Conduct Authority has initiated 87 investigations into cryptocurrency businesses over the last 12 months. This figure represents a 74% increase from the number of inquiries recorded as between October 2017 and...
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British Crypto Investigations Skyrocket 74% as Watchdog Proposes Derivatives Ban

Investigations into cryptocurrency firms by the UK Financial Conduct Authority (FCA) have surged by three-quarters this year, as the agency tightens the rein on the crypto sector. Scrutiny On the Rise According to research from Pinsent Masons, an international legal firm, active investigations into cryptocurrency firms have surged to a whooping 87 companies in 2019...
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UK Regulators Move to Ban Cryptocurrency Derivatives

Financial regulators in the U.K. are reportedly looking to outlaw cryptocurrency derivatives over perceived risks to retail investors. This move comes as the market continues to gain even more prominence against the traditional crypto spot trading. While several financial watchdogs in different jurisdictions have proposed stringent regulatory requirements for cryptocurrency derivatives trading, an outright ban...
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Financial Conduct Authority Wants To Ban Crypto-Related Derivatives

Chainalysis launches a new compliance tool right before the upcoming requirements for digital asset transfers since the company is very skilled at tracking ERC-20 tokens when moved from hacked accounts. The service that explores the Ethereum network will now launch its special software as we are about to find out more in the Ethereum news...
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FCA Pondering Crypto-Derivatives Ban

The UK’s Financial Conduct Authority (FCA) intends to ban crypto-related derivatives aimed at retail investors, according to a recent article published by The Economist. A consultation in this regard ended yesterday, and the verdict will be available early next year. FCA Concerned About Crypto Losses According to the Economist author, the British financial regulator is...
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Crypto-Derivatives Could Become Illegal in the UK Next Year

Various governments around the world aren’t too sure how to tackle Bitcoin. Numerous aspects of this particular industry need to be treated very differently from one another. Crypto-derivatives are getting some unfavorable attention in the United Kingdom. So much even that these vehicles may be considered illegal in the near future.  Crypto-Derivatives are Appealing Although...
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Britain’s FCA Mulling Retail Ban on Crypto Derivatives to Protect Investors

The Financial Conduct Authority (FCA), Britain’s top financial regulator, has just concluded a consultation on crypto asset derivatives products. It believes that amateur traders using the products have little awareness of the risks involved.The FCA is considering a blanket ban on retail investors trading the products. The final decision is expected in early 2020.FCA May...
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Messaging Giant Line Rolls Out Crypto Exchange Bitmax

Japan’s messaging app LINE has launched a crypto trading platform Bitmax. Initially, it will allow users to trade five types of cryptocurrencies: Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. Japan’s popular messaging app LINE has launched its new crypto trading platform Bitmax. According to the press release, Bitmax is a simple and secure cryptocurrency exchange...
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Europe, Led by France, Set to Block Facebook’s Libra

France warned that it will block the development of Facebook’s planned Libra cryptocurrency in Europe as it represents itself a threat for the “monetary sovereignty” of governments. It seems that France decided to go rigorous on Facebook’s Libra by entirely blocking the development of it. When Facebook announced their Libra project in June this year,...
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Top U.K. Financial Watchdog: Let’s Ban Crypto Derivatives for Retail Investors

The Financial Conduct Authority, the United Kingdom’s top financial regulator, is moving against cryptocurrency derivatives products being accessible to everyday consumers. The watchdog, which works independently of the U.K. government, announced on July 3rd it was proposing to ban the “sale, marketing and distribution” of cryptocurrency-based exchange–trade products (ETPs) and derivatives — for example, futures...
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