News list for " Regulatory Authority"
The Stuttgart Digital Exchange says Germany's Federal Financial Supervisory Authority has granted it a Crypto Asset Service Provider (CASP) license under the MiCA regulation, which comes into effect at the end of 2024. It is the first German company to be granted a license that allows it to operate throughout the European Union.
The Prudential Regulation Authority (PRA), the regulator of the Bank of England, has given companies until March next year to disclose current or future cryptocurrency risk exposures so that it can monitor stability and help shape policy. "This will inform the work of the PRA and the Bank of England on crypto assets by helping us adjust our prudential treatment of crypto asset risk exposures, [and] analysing the relative costs and benefits of different policy options," the PRA said.
The South African Financial Conduct Authority (FSCA) has announced that, although the West Gap Branch High Court has revoked the funds preservation order against the South African exchange Banxso (Pty) Ltd, Banxso's Financial Services Provider (FSP) license is still revoked, and the company cannot conduct financial services business, and its funds can only be used to relocate customers to other financial services providers authorized by the FSCA. The Banxso-related case is tentatively scheduled ...
The Polish Financial Supervisory Authority (KNF) has issued a public warning to Foris DAX MT, a Malta-based company operating under the Crypto.com brand, for allegedly conducting unauthorized financial activities in Poland. The KNF warning is not a ban, but rather a reminder to Polish investors to consider the latent risks associated with the platform. A spokesperson for the Crypto.com said the team "has been informed of the latest news from KNF Poland and is working closely with our lawyers to ...
According to Hong Kong media Ming Pao, Deepa Raja Carbon, managing director and vice chairperson of the Dubai Virtual Asset Regulatory Authority (VARA), said that after the turmoil in the virtual asset industry, people prefer to have clear regulations, which is why international exchanges come to Dubai to develop their business. Hong Kong and Dubai have very similar DNA, and the supervision of virtual assets in various regions does not need to be consistent, but the coordination between regulato...
South Africa's Financial Sector Conduct Authority (FSCA) on Wednesday suspended the financial services provider license of Banxso, a platform that offers cryptocurrency trading, citing concerns that its marketing practices promised customers unrealistic returns. It follows allegations that Banxso used depth fakes in its advertising campaigns and aggressive sales techniques to force customers to invest without proper threat and risk assessment.
According to a survey by the Financial Industry Regulatory Authority (FINRA), 55% of Gen Z in the United States prefer to invest in cryptocurrencies. Gen Z prefers on-chain rather than online finance. It believes that digital banking platforms are unwieldy and opaque. Gen Z prefers to manage their finances on-chain through decentralized financial applications and digital dollar stablecoins. It is reported that Generation Z refers to the generation of people born between 1997 and 2012 who are now...
Cryptocurrency companies have withdrawn their applications due to the cumbersome and time-consuming regulatory process of the UK's Financial Conduct Authority (FCA). In the past three years, 186 companies have withdrawn their applications to register in the UK, reflecting dissatisfaction with the regulatory environment in the UK. According to Reed Smith data, from May 2023 to April 2024, the FCA received only 29 applications for registration, a significant decrease from the figures of the previo...
The German Federal Financial Supervisory Authority (BaFin), in conjunction with the Federal Criminal Police Office and the Bundesbank, seized 13 cryptocurrency ATMs in 35 locations on August 20 for failing to register in accordance with Article 32 of the Banking Act and for allegedly illegally converting euros into cryptocurrencies. BaFin said these illegally installed ATMs could become hotbeds for criminal activity by failing to perform "know your customer" (KYC) procedures. The number of crypt...
Peru's Banking and Insurance Supervisory Authority (SBS) has issued a resolution requiring virtual asset service providers (VASPs) to implement "know your customer" (KYC) and anti-money laundering (AML) measures as part of their compliance programs. The resolution is in line with FATF recommendations aimed at controlling and preventing criminals from using these platforms for illicit purposes.
The U.K.'s Financial Conduct Authority (FCA) has issued updated guidance aimed at ensuring cryptocurrency firms meet promotional compliance requirements that come into effect in October 2023.
The UK Payment Systems Regulatory Authority and the Financial Conduct Authority have called for information on digital wallets.
The enforcement arm of South Africa's Financial Sector Conduct Authority (FSCA) has established a team to investigate individuals or entities operating crypto financial services without proper licenses. Currently, 30 cases are under review. The FSCA aims to protect the public and maintain fairness in the industry by taking decisive action against illegal crypto businesses. The regulator will also publish its findings and issue warnings if unregistered crypto businesses are found. Ahead of classi...
The Danish Financial Supervisory Authority will abolish non-custodial bitcoin wallets, citing concerns about the unregulated activities of crypto platforms, according to documents disclosed by Bitcoin News on X, stressing the need to regulate "interface providers" and mobile app developers to comply with MiCA regulations.
Digital bank GXS Bank has received a capital injection of S $229.50 million from backers Singtel and Grab, according to regulatory filings filed with the Accounting and Corporate Regulatory Authority of Singapore. Grab subscribed for the majority of the 229.50 million shares at S $1 per share. The company was allocated 191.80 million shares, while Singtel was allocated 37.70 million shares. The capital injection is part of the share offering and placement plan announced in the resolution of the ...
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