Under the new guidance, firms promoting digital asset products in the United Kingdom are mandated to provide ads that are fair, clear, and not misleading while laying out the risks of crypto asset investments.
As part of Singapore's exploration of asset tokenization, the Monetary Authority of Singapore is teaming up with U.K. and Japan regulators in a project focusing on advancing legal, policy, and accounting handling of digital assets.
After pausing some digital asset services in August, PayPal has now joined 42 other companies registered by the FCA to offer ‘crypto’ services in the United Kingdom.
The FCA identified three key issues that led to the breach: making claims about the safety of digital asset services, unclear risk warnings, and the lack of information about their potential threats.
Binance downplays reports of customer accounts linked to terror groups, but figures unveiled in a new report say otherwise, with Israel probing around 200 more suspected accounts.
In response to the warning from the U.K. watchdog, Snapchat said that its AI offering was subjected to multiple legal and privacy review processes.
Under the new rules that came into force on October 8, it is a criminal offense for unlicensed digital asset firms to market digital asset products to anyone in the United Kingdom.
Helen Boyd, head of the Financial Conduct Authority, said the new sandbox pilot would explore tokenized instruments, acting more as an infrastructure sandbox in contrast to its current status.
As the Financial Conduct Authority mandates new stricter rules, Bybit decided to pause their operations in the U.K. to focus its efforts to best meet the regulations of the government in the future.
The Financial Conduct Authority has issued final warning to unregistered digital asset firms for their low engagement to financial promotions regime and illegal marketing to U.K. consumers.
A report quoted CEO Ben Zhou saying that due to the new FCA rules, Bybit would exit the U.K., but the exchange now says it’s committed to staying.
Luno told one news outlet that the Financial Conduct Authority’s new rules, taking effect in October, necessitate a business review and that the restrictions affect other players too.
