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CryptoCurrency
FCA's Q3 Report Reveals 5,310 Amended Financial Promotions amid Regulatory Scrutiny
2023-11-03T16:29:10.446+02:00
Unauthorized firms faced 488 alerts, with 11% of them attributed to clone scams.
The UK's markets watchdog is focusing on the new financial promotions regime.
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CryptoCurrency
FCA Unveils Fresh Guidance amidst Crypto Marketing Turmoil in the UK
2023-11-02T15:31:18.954+02:00
The new crypto marketing rules have been in effect in the UK for a month.
Many firms still fail to meet the requirements, so the FCA is publishing new guidance.
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CryptoCurrency
PayPal Gains Approval to Offer Crypto Services in the UK
2023-11-01T17:21:28.902+02:00
The organization can hold and sell crypto but cannot expand its crypto offerings.
Interactive Brokers, Bitstamp, Komainu, and PayPal are the four companies to receive FCA crypto registration.
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Retail FX
FCA Issues Warning against Saxo Bank Impersonators
2023-11-01T15:44:21.923+02:00
Clone firms imitate authorized entities to deceive people.
According to the regulator, there is an alarming surge in clone scammers.
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Retail FX
News Nuggets | 31 October: XS.com Hires New Manager; Scope Markets Expands CFDs Portfolio
2023-10-31T12:03:55.547+02:00
Also, FCA takes action on BNPL contracts; NFA fines Oscar Gruss & Son and MFA Urges UK regulators to eliminate reduntant regulations.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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CryptoCurrency
FCA: Bitfinex May Be Promoting Financial Services "Without Our Permission"
2023-10-27T22:54:25.635+02:00
The regulator said that investors dealing with the crypto exchange may not be protected by the FSCS.
"Bitfinex is very disappointed by the action taken by the FCA," the exchange stated.
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CryptoCurrency
Crypto Marketers Face New Hurdles as FCA Tightens Rules
2023-10-25T11:56:13.415+02:00
The agency has identified recurring issues in crypto marketing since new regulations took effect on 8 October.
The FCA has issued 221 alerts and is collaborating with various businesses to curb illegal promotions.
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CryptoCurrency
Binance Faces Ongoing Exodus of Key Executives, UK CEO Departs
2023-10-24T15:51:31.500+02:00
This move underscores the ongoing crypto regulatory pressure in the UK.
Farnell joined Binance in 2021 and assumed the role of CEO of Eqonex.
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Retail FX
News Nuggets | 23 October: Vantage Lowers Copy Trading Barrier; FCA Warns against MS Clone
2023-10-23T12:47:11.115+02:00
Also, Ebury opened a global training center in Malaga; Odeon Capital faces FINRA sanctions.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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Retail FX
FCA's Data Publication: 5% Surge in Customer Complaints in H1
2023-10-20T13:40:04.463+02:00
The Home Finance Product Group experienced a positive reduction of 10% in complaints.
Decumulation and Pensions experienced a notable rise of 20% in complaints.
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FinTech
FCA and Modulr Agree on Customer Onboarding Restrictions amid Regulatory Changes
2023-10-17T14:43:39.270+02:00
The UK's Financial Conduct Authority takes action against Modulr.
Modulr temporarily halts onboarding due to new UK regulations.
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Retail FX
FCA Closes IBP Markets amidst Concerns of Financial Crime Risks
2023-10-13T19:51:57.249+02:00
Restrictions have been imposed against the broker.
Administrators have been appointed to manage clients' assets in the firm.
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Retail FX
FCA Data Reveals Surge in Whistleblower Reports in Q2
2023-10-13T17:59:05.431+02:00
Most reports were submitted with contact details for further follow-up.
During Q2, 300 reports containing 821 allegations were made.
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FinTech
FCA's Ongoing Commitment: Cybersecurity and Data Protection Enforcement
2023-10-13T13:54:03.379+02:00
Equifax Ltd's lack of transparency resulted in a slow response and delayed notification to affected individuals.
The FCA imposed an £11,164,200 fine on Equifax Ltd as penalties.
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Institutional FX
Barclays’ Former CEO Fined £1.8 Million by FCA
2023-10-12T14:09:50.511+02:00
A legal battle looms as appeals to the Upper Tribunal challenge the FCA's decision.
The FCA emphasizes the CEO's role in exercising sound judgment.
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Retail FX
News Nuggets | 11 October: Tiger Brokers Hires New CEO; FCA Censures LCF
2023-10-11T11:58:21.158+02:00
Also, Consob ordered the blackout of 5 websites; OKX hired a new head of compliance.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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CryptoCurrency
Binance Faces Regulatory Hurdles in Meeting UK Crypto Ad Rules
2023-10-10T18:49:00.752+02:00
Rebuildingsociety.com can't approve crypto ads due to regulatory restrictions.
Binance had partnered with the company to comply with FCA's new regulations.
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CryptoCurrency
How Will Nexo Adjust to New Rules from the FCA?
2023-10-10T15:28:10.673+02:00
Are concerns of crypto firms' exodus valid?
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News
Cryptocurrency Exchanges Adapt to UK's New Financial Promotions Regime
2023-10-09T13:07:53.692+02:00
Binance has a new domain and partnerships with local entities to cater to its UK users.
The FCA has expanded its warning list to include 143 unauthorized entities in the UK.
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Retail FX
News Nuggets | 9 October: Komainu Joins the UK Crypto Register; CNMV Issues New Warnings
2023-10-09T12:06:22.182+02:00
Also, the FCA welcomes the Transition Plan Taskforce; Oliver Haste joins Propellant.digital.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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CryptoCurrency
FCA Targets 143 Entities, including Major Crypto Exchanges Huobi and KuCoin
2023-10-09T10:27:46.569+02:00
On Sunday, the FCA expanded its warning list when the new crypto regulations kicked in.
The regulator claims two major cryptocurrency exchanges operate in the UK without authorization.
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CryptoCurrency
Binance Prepares for UK's Financial Promotions Regime: Introduces Dedicated Domain
2023-10-06T23:26:52.852+02:00
UK users have been directed to the domain in compliance with the new regulations.
Certain services provided by the crypto exchange will be limited for retail users.
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CryptoCurrency
Komainu Enters UK Crypto Custody Space with FCA Registration
2023-10-06T17:31:10.140+02:00
The license enables the company to offer multiple services on Komainu Connect.
Komainu's expanding global reach includes regulatory approval in Italy and Dubai.
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CryptoCurrency
Nexo Responds to FCA: Ending Crypto Cashback Payouts in the UK
2023-10-06T16:00:54.948+02:00
The FCA has imposed stringent promotion rules for the cryptocurrency industry.
Other firms, including PayPal, Luno, and Bybit, have scaled back their services in the UK.
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Retail FX
News Nuggets | 4 October: SEC Halts Ponzi Scheme; FCA Updates Warning List
2023-10-04T11:28:49.833+02:00
Also, ClearBank broadens its Board; ABN Amro sells a stake in EMS to Fiserv.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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