A new bill hurdles the British parliament as it hardens its stance on digital currency exchanges in the wake of soaring financial crimes, a move that is also expected to affect the blockchain sector.
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.
In their defense, the Gale twins believed that the inclusion of the words "A.D." by their management was enough warning and that they did not urge individuals to invest directly in digital assets.
The Financial Reporting Council says Revolut’s auditing had an “unacceptably high risk of material misstatement” amid cost-cutting under Project Prism.
The United Kingdom will become a testbed for the adoption of the first privately-led digital sterling program, paving the way for the introduction of new payment rails for the global financial system.
The English Court of Appeal will hear Tulip Trading’s case on the legal duties owed by blockchain developers, granting permission to appeal the High Court’s decision to strike the case out for lack of jurisdiction.
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.
Bank of England researchers Owen Lock and Teresa Cascino highlighted how digital assets growing interconnectedness with metaverses could put bank profits and financial stability at risk.
The latest post explains that the first ads breached several CAP code rules, like misleading advertising, qualification, financial products, and social responsibility.
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.