The U.K.’s Financial Conduct Authority (FCA) has warned consumers that FTX is operating in the U.K. without local permission, putting another dent in its founder’s increasingly tarnished PR halo.
ePayments, which had over 250,000 clients, was ordered to freeze operations in early 2020 after the FCA found weaknesses in its financial crime controls.
The Financial Reporting Council says Revolut’s auditing had an “unacceptably high risk of material misstatement” amid cost-cutting under Project Prism.
The Crypto and Digital Assets All Party Parliamentary Group wants to hear from the public on regulations, CBDCs, the role of the FCA and BoE, and more.
Revolut is bucking this year’s massive tech layoffs tide, raising headcount by 20%, including in its digital assets business which accounts for 10% of revenue.
FCA published new guidelines prohibiting flashy ads that don’t portray the risks that such investment comes with, and digital assets ads are set to follow.
More troubles loom for digital assets firms like Celsius Network and Binance; meanwhile, Dubai launches its new 'metaverse strategy' that aims to open 40,000 virtual jobs by 2030.
The Investment Association believes that blockchain technology can be used to bring greater efficiency, cost savings, and transparency to mutual funds, according to the Financial Times report.
Paul-Willem van Gerwen spoke on the rise and impact of digital currency derivatives in his keynote speech at the Amsterdam Propriety Traders managers meeting.
The FCA didn't mention specific offenders and stated that the reminder had been necessitated by a growing number of social media posts related to digital currencies and NFTs.
Over 100 companies had applied for the temporary registration exemption, but only 12 were granted, even as several companies expressed outrage at the process.
The BOE noted that digital currency would pose a risk to the wider financial system as the industry grows, while the FCA spoke of several concerns that digital currency firms should keep in mind.
