London’s Metropolitan Police are lobbying the U.K. government to legislate to make it tougher for criminals to use and transfer digital assets, according to Detective Chief Superintendent Michael Gallagher.
John Glen said there had been significant difficulties in registering digital currency companies under the regulations, resulting in a majority of applicants for AML approval withdrawing their licenses.
The Financial Times reported that European regulators, were investigating whether the Binance token launch was arranged in compliance with securities laws before being made available for sale.
The digital asset industry has a specific problem which, despite hurting consumers and adoption, receives little attention: dishonest advertising.
Users of the digital currency derivative platform in the U.K. have until March 31 to close all their positions and withdraw their balances, according to Bybit.
United Kingdom’s financial watchdog has issued a public warning against Dalsari, which it says is an unregistered firm offering trading services in digital currencies.
The UK financial markets regulator cautioned such companies that continuing their activities would attract criminal and civil enforcement actions.
The ban on sale of digital currency derivatives that was first proposed by the U.K. Financial Conduct Authority is now in effect.
The UK regulator’s new temporary regime would run until July 9, 2021, and would apply to existing digital currency businesses who have yet to secure a required license to operate.
Markets Pilot, allegedly based in the Caribbean island nation of Dominica, has been targeting U.K. residents with its investment and trading platform, according to the FCA.
In its draft bill, the Financial Sector Conduct Authority is proposing that all service providers register as financial service providers.