FCA Grants Extension for Crypto Marketing Deadline Until 2024
The Financial Conduct Authority (FCA) of the United Kingdom has formally communicated the potential extension of up to three months for cryptocurrency companies to implement crucial modifications to their marketing practices. Originally planned to become effective on October 8, 2023, the new regulations have been designed to curtail aggressive marketing strategies and unsuitable incentives. However, […]
UK Crypto Firms Face New Travel Rule Requirements from FCA
The UK’s financial regulator has imposed new rules on crypto businesses to collect and verify information on digital asset transfers as part of its anti-money laundering and counter-terrorist financing efforts. The UK’s Financial Conduct Authority (FCA) has announced that the Travel Rule, a global standard for transparency in digital asset transfers, came into force on […]
FCA Publishes Date Crypto Ad Compliance Will Kick Off
The Financial Conduct Authority (FCA) has announced that the new rules governing financial promotions will go into effect on October 8th. On the heels of the disclosure, the FCA claimed it has written to domestic and international businesses marketing crypto-assets to UK consumers, requesting that they adhere to the forthcoming crypto ad compliance rules or […]
Binance Withdraws Registration With the UK FCA
Amid regulatory scrutiny the crypto exchange has recently faced, Binance has discontinued its registration with the UK’s FCA in response to global regulators’ persistent resistance. The UK-based subsidiary of Binance, Binance Markets Limited (BML), has officially canceled its registration with the Financial Conduct Authority (FCA). The FCA stated on its website that no Binance entity […]
UK financial services bill amendment regulates crypto activities
The Financial Conduct Authority will now have the authority to regulate operations involving crypto assets if the updated bill is approved. The bill already addressed stablecoin regulation from the outset. A change to the Financial Services and Markets Bill, which is now being debated in the UK Parliament , would allow for the regulation of […]