UK regulator accuses Revolut of ‘material misstatement’ in audit report
The Financial Reporting Council says Revolut’s auditing had an “unacceptably high risk of material misstatement” amid cost-cutting under Project Prism.
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.
Early last week, a U.K. collective proceedings order was filed against Binance, Kraken, Shapeshift, and Bittylicious in response to the 2019 delisting of BSV.
The collective proceedings order accuses the exchanges of colluding to delist BSV without good reason, reducing, preventing, and distorting competition in the United Kingdom as a result.
Nearly £10 billion class action lawsuit was filed this week in the United Kingdom against Binance, Kraken, Bittylicious, and Shapeshift over collectively delisting the BSV in 2019.
Kumaraguru Ramanujam’s application, MoneySwipe, aims to bring down fees for sending money abroad from the current global average of 7% to just 1.5%.
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.