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Tag: Clampdown

Massive UK Clampdown: Over 1000 Crypto Firms Face Regulatory Storm

Massive UK Clampdown: Over 1000 Crypto Firms Face Regulatory Storm

In recent developments within the financial sector, the Financial Conduct Authority (FCA), the UK's premier regulator of financial markets, has escalated its monitoring of the cryptocurrency landscape This move comes on the heels of the enforcement of new financial promotion rules, casting a spotlight on the regulatory requirements for cryptocurrency exchanges operating within the UK The necessity for these exchanges to secure an FCA license to engage with UK residents highlights an important shift towards a more structured cryptocurrency market UK FCA Cracks Down on Unregistered crypto Firms Lucy Castledine, the FCA’s director of consumer investments, has brought attention to the regulatory body's proactive stance against companies that offer services without official registration This initiative has seen substantial outcomes, including the withdrawal of 48 applications from UK app stores...

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