After its second reading of the Financial Services and Markets Bill, members of the British House of Lords have voiced concerns that it does not go far enough and that a whole new regulatory approach will be required.
The Rishi Sunak government will implement a tax exemption for foreign investors who purchase digital assets through local investment brokers and managers.
Rtcoin claims it has license to operate in Germany but a closer look at BaFin's database reveals otherwise, with British regulator chiming in saying the firm is also operating illegally in the U.K.
While exploring the digital pound, BoE deputy governor John Cunliffe said the recent FTX collapse highlighted the need for financial institutions to be organized and the essence of regulations.
The Bill, with its latest amendments, is set to be debated on the floor of the House of Commons soon after the conclusion of the Bill's committee stage, due to end on November 3.
Revolut was the only firm on the FCA’s temporary registration regime and is now licensed to offer digital asset trading and custodial services in the U.K.
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.