Olumide Osunkoya has pleaded guilty to illegally running a crypto ATM network across the UK. Even though the UK Financial Conduct Authority (FCA) denied his registration, his operation handled millions in cryptocurrency transactions. This case represents the first conviction of its type under the UK’s anti-money laundering laws. UK’s First Illegal Crypto ATM Conviction Unveiled…
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The United Kingdom’s financial regulator has endorsed a blueprint model designed to facilitate the tokenization of funds for asset management firms. Investment managers in the United Kingdom are receiving regulatory support to leverage blockchain technology for the tokenization of funds, breaking away from conventional record-keeping systems. In a recent report published by The Investment Association (IA),…
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Source: Adobe Stock The Financial Conduct Authority (FCA) in the UK has raised concerns about Bitfinex, a cryptocurrency exchange, that it may be promoting financial services or products without the FCA’s permission. On October 27, the FCA in the UK issued a public warning regarding Bitfinex, expressing concerns that Bitfinex may be offering financial services…
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In a recent move, the Financial Conduct Authority (FCA), the United Kingdom’s financial markets regulator, has expanded its warning list to include major cryptocurrency exchanges, categorizing them as “non-authorized firms” that citizens “should avoid.” The warning list is accompanied by a statement advising to refrain from dealing with these firms. It includes 143 new entities,…
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PayPal has announced a temporary suspension of cryptocurrency sales within the United Kingdom for a minimum of three months, commencing on October 1. This decision is in direct response to the recent regulatory reforms introduced by the Financial Conduct Authority, Britain’s financial regulator. The FCA is set to implement more stringent guidelines aimed at curbing…
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In recent communications to its U.K. clientele, Paypal has announced a temporary suspension of cryptocurrency purchases starting October 1, 2023, with plans to resume in early 2024. Notably, even amidst this hiatus, users can continue to hold their crypto within the Paypal ecosystem and are free to liquidate their digital holdings whenever they wish. Paypal…
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The expansion came following a “productive dialogue” with the United Kingdom’s prime minister and “months of constructive conversations” with U.K. policymakers, a16z’s general partner said. Venture capital firm Andreessen Horowitz (a16z) is set to open its first office outside of the United States this year, adding to the backdrop of U.S.-based firms seeking greener pastures…
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The financial and advertising regulators posted a seven-part checklist to ensure these social media stars stay within the bounds of the law. The financial and advertising regulators of the United Kingdom have teamed up to send a warning to social media “finfluencers” telling them to stop promoting illegal “get rich quick” schemes or face law…
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According to the National Bank of Rwanda, the country’s regulated financial services providers are now prohibited from facilitating crypto-related transactions. In her Jan. 31 letter justifying the decision, the acting governor Soraya Hakuziyaremye cites the unregulated status of most crypto assets and how this leaves users without the “guarantees and safeguards associated with regulated financial…
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Believe it or not, the DealShaker marketplace is still working. The commerce arm of the OneCoin empire, DealShaker provided a clear and verifiable use case for OneCoin as a currency. The token was real because you could use it to buy things in a specific e-commerce store. Oh, those were the days. The greatest thing…
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