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The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The SEC, under the leadership of Chair Gary Gensler, has significantly escalated its enforcement efforts within the crypto industry, aiming to hold those flouting securities laws accountable. David Hirsch, responsible for overseeing crypto enforcement, recently emphasized that the agency's focus extends beyond high-profile exchanges, signaling more enforcement actions ahead.<\/p>\n","post_title":"Coinbase Explored FTX Europe Acquisition Amid Regulatory Challenges: Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-explored-ftx-europe-acquisition-amid-regulatory-challenges-report","to_ping":"","pinged":"","post_modified":"2023-09-28 23:19:06","post_modified_gmt":"2023-09-28 13:19:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13554","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13551,"post_author":"15","post_date":"2023-09-28 22:55:09","post_date_gmt":"2023-09-28 12:55:09","post_content":"\n

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In addition, Europe is attracting other crypto companies. Galaxy Digital, the crypto group headed by US billionaire Mike Novogratz, is charting a new course<\/a> into Europe. The firm recently appointed Leon Marshall, formerly of crypto broker Genesis, as its inaugural head of Europe.<\/p>\n\n\n\n

The SEC, under the leadership of Chair Gary Gensler, has significantly escalated its enforcement efforts within the crypto industry, aiming to hold those flouting securities laws accountable. David Hirsch, responsible for overseeing crypto enforcement, recently emphasized that the agency's focus extends beyond high-profile exchanges, signaling more enforcement actions ahead.<\/p>\n","post_title":"Coinbase Explored FTX Europe Acquisition Amid Regulatory Challenges: Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-explored-ftx-europe-acquisition-amid-regulatory-challenges-report","to_ping":"","pinged":"","post_modified":"2023-09-28 23:19:06","post_modified_gmt":"2023-09-28 13:19:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13554","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13551,"post_author":"15","post_date":"2023-09-28 22:55:09","post_date_gmt":"2023-09-28 12:55:09","post_content":"\n

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

What sets FTX Europe apart is its exclusive license to offer perpetual futures, a popular derivative product, in the European region. These licenses have garnered considerable interest from potential buyers, not just Coinbase. Crypto.com and Trek Labs, two other prominent names in the crypto industry, have reportedly expressed their interest in acquiring FTX Europe.<\/p>\n\n\n\n

In addition, Europe is attracting other crypto companies. Galaxy Digital, the crypto group headed by US billionaire Mike Novogratz, is charting a new course<\/a> into Europe. The firm recently appointed Leon Marshall, formerly of crypto broker Genesis, as its inaugural head of Europe.<\/p>\n\n\n\n

The SEC, under the leadership of Chair Gary Gensler, has significantly escalated its enforcement efforts within the crypto industry, aiming to hold those flouting securities laws accountable. David Hirsch, responsible for overseeing crypto enforcement, recently emphasized that the agency's focus extends beyond high-profile exchanges, signaling more enforcement actions ahead.<\/p>\n","post_title":"Coinbase Explored FTX Europe Acquisition Amid Regulatory Challenges: Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-explored-ftx-europe-acquisition-amid-regulatory-challenges-report","to_ping":"","pinged":"","post_modified":"2023-09-28 23:19:06","post_modified_gmt":"2023-09-28 13:19:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13554","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13551,"post_author":"15","post_date":"2023-09-28 22:55:09","post_date_gmt":"2023-09-28 12:55:09","post_content":"\n

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Crypto Industry Shifts<\/h2>\n\n\n\n

What sets FTX Europe apart is its exclusive license to offer perpetual futures, a popular derivative product, in the European region. These licenses have garnered considerable interest from potential buyers, not just Coinbase. Crypto.com and Trek Labs, two other prominent names in the crypto industry, have reportedly expressed their interest in acquiring FTX Europe.<\/p>\n\n\n\n

In addition, Europe is attracting other crypto companies. Galaxy Digital, the crypto group headed by US billionaire Mike Novogratz, is charting a new course<\/a> into Europe. The firm recently appointed Leon Marshall, formerly of crypto broker Genesis, as its inaugural head of Europe.<\/p>\n\n\n\n

The SEC, under the leadership of Chair Gary Gensler, has significantly escalated its enforcement efforts within the crypto industry, aiming to hold those flouting securities laws accountable. David Hirsch, responsible for overseeing crypto enforcement, recently emphasized that the agency's focus extends beyond high-profile exchanges, signaling more enforcement actions ahead.<\/p>\n","post_title":"Coinbase Explored FTX Europe Acquisition Amid Regulatory Challenges: Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-explored-ftx-europe-acquisition-amid-regulatory-challenges-report","to_ping":"","pinged":"","post_modified":"2023-09-28 23:19:06","post_modified_gmt":"2023-09-28 13:19:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13554","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13551,"post_author":"15","post_date":"2023-09-28 22:55:09","post_date_gmt":"2023-09-28 12:55:09","post_content":"\n

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

One of the key attractions for Coinbase lies in FTX Europe's highly profitable derivatives business and its steadily growing customer base. Derivatives, essentially financial contracts whose value is derived from underlying assets like Bitcoin (BTC), have emerged as a lucrative market for traders and the exchanges facilitating these transactions.<\/p>\n\n\n\n

Crypto Industry Shifts<\/h2>\n\n\n\n

What sets FTX Europe apart is its exclusive license to offer perpetual futures, a popular derivative product, in the European region. These licenses have garnered considerable interest from potential buyers, not just Coinbase. Crypto.com and Trek Labs, two other prominent names in the crypto industry, have reportedly expressed their interest in acquiring FTX Europe.<\/p>\n\n\n\n

In addition, Europe is attracting other crypto companies. Galaxy Digital, the crypto group headed by US billionaire Mike Novogratz, is charting a new course<\/a> into Europe. The firm recently appointed Leon Marshall, formerly of crypto broker Genesis, as its inaugural head of Europe.<\/p>\n\n\n\n

The SEC, under the leadership of Chair Gary Gensler, has significantly escalated its enforcement efforts within the crypto industry, aiming to hold those flouting securities laws accountable. David Hirsch, responsible for overseeing crypto enforcement, recently emphasized that the agency's focus extends beyond high-profile exchanges, signaling more enforcement actions ahead.<\/p>\n","post_title":"Coinbase Explored FTX Europe Acquisition Amid Regulatory Challenges: Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-explored-ftx-europe-acquisition-amid-regulatory-challenges-report","to_ping":"","pinged":"","post_modified":"2023-09-28 23:19:06","post_modified_gmt":"2023-09-28 13:19:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13554","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13551,"post_author":"15","post_date":"2023-09-28 22:55:09","post_date_gmt":"2023-09-28 12:55:09","post_content":"\n

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Additionally, this ambitious move was driven by Coinbase's desire to bolster its derivatives business. According to a report by Fortune, the talks did not progress to an advanced stage. FTX Europe<\/a>, previously part of its parent company's portfolio before declaring bankruptcy, is now on the market. <\/p>\n\n\n\n

One of the key attractions for Coinbase lies in FTX Europe's highly profitable derivatives business and its steadily growing customer base. Derivatives, essentially financial contracts whose value is derived from underlying assets like Bitcoin (BTC), have emerged as a lucrative market for traders and the exchanges facilitating these transactions.<\/p>\n\n\n\n

Crypto Industry Shifts<\/h2>\n\n\n\n

What sets FTX Europe apart is its exclusive license to offer perpetual futures, a popular derivative product, in the European region. These licenses have garnered considerable interest from potential buyers, not just Coinbase. Crypto.com and Trek Labs, two other prominent names in the crypto industry, have reportedly expressed their interest in acquiring FTX Europe.<\/p>\n\n\n\n

In addition, Europe is attracting other crypto companies. Galaxy Digital, the crypto group headed by US billionaire Mike Novogratz, is charting a new course<\/a> into Europe. The firm recently appointed Leon Marshall, formerly of crypto broker Genesis, as its inaugural head of Europe.<\/p>\n\n\n\n

The SEC, under the leadership of Chair Gary Gensler, has significantly escalated its enforcement efforts within the crypto industry, aiming to hold those flouting securities laws accountable. David Hirsch, responsible for overseeing crypto enforcement, recently emphasized that the agency's focus extends beyond high-profile exchanges, signaling more enforcement actions ahead.<\/p>\n","post_title":"Coinbase Explored FTX Europe Acquisition Amid Regulatory Challenges: Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-explored-ftx-europe-acquisition-amid-regulatory-challenges-report","to_ping":"","pinged":"","post_modified":"2023-09-28 23:19:06","post_modified_gmt":"2023-09-28 13:19:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13554","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13551,"post_author":"15","post_date":"2023-09-28 22:55:09","post_date_gmt":"2023-09-28 12:55:09","post_content":"\n

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Coinbase had recently been in discussions regarding the acquisition of FTX Europe. This endeavor was a strategic response by the crypto exchange to the challenges posed by regulatory tightening within the United States. <\/p>\n\n\n\n

Additionally, this ambitious move was driven by Coinbase's desire to bolster its derivatives business. According to a report by Fortune, the talks did not progress to an advanced stage. FTX Europe<\/a>, previously part of its parent company's portfolio before declaring bankruptcy, is now on the market. <\/p>\n\n\n\n

One of the key attractions for Coinbase lies in FTX Europe's highly profitable derivatives business and its steadily growing customer base. Derivatives, essentially financial contracts whose value is derived from underlying assets like Bitcoin (BTC), have emerged as a lucrative market for traders and the exchanges facilitating these transactions.<\/p>\n\n\n\n

Crypto Industry Shifts<\/h2>\n\n\n\n

What sets FTX Europe apart is its exclusive license to offer perpetual futures, a popular derivative product, in the European region. These licenses have garnered considerable interest from potential buyers, not just Coinbase. Crypto.com and Trek Labs, two other prominent names in the crypto industry, have reportedly expressed their interest in acquiring FTX Europe.<\/p>\n\n\n\n

In addition, Europe is attracting other crypto companies. Galaxy Digital, the crypto group headed by US billionaire Mike Novogratz, is charting a new course<\/a> into Europe. The firm recently appointed Leon Marshall, formerly of crypto broker Genesis, as its inaugural head of Europe.<\/p>\n\n\n\n

The SEC, under the leadership of Chair Gary Gensler, has significantly escalated its enforcement efforts within the crypto industry, aiming to hold those flouting securities laws accountable. David Hirsch, responsible for overseeing crypto enforcement, recently emphasized that the agency's focus extends beyond high-profile exchanges, signaling more enforcement actions ahead.<\/p>\n","post_title":"Coinbase Explored FTX Europe Acquisition Amid Regulatory Challenges: Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-explored-ftx-europe-acquisition-amid-regulatory-challenges-report","to_ping":"","pinged":"","post_modified":"2023-09-28 23:19:06","post_modified_gmt":"2023-09-28 13:19:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13554","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13551,"post_author":"15","post_date":"2023-09-28 22:55:09","post_date_gmt":"2023-09-28 12:55:09","post_content":"\n

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

\u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

What will happen to non-compliance?<\/h2>\n\n\n\n

Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 6 7 8 9 10 … 18

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
  • FTX Europe's profitable derivatives business also attracted the exchange.<\/li>\n<\/ul>\n\n\n\n

    Coinbase had recently been in discussions regarding the acquisition of FTX Europe. This endeavor was a strategic response by the crypto exchange to the challenges posed by regulatory tightening within the United States. <\/p>\n\n\n\n

    Additionally, this ambitious move was driven by Coinbase's desire to bolster its derivatives business. According to a report by Fortune, the talks did not progress to an advanced stage. FTX Europe<\/a>, previously part of its parent company's portfolio before declaring bankruptcy, is now on the market. <\/p>\n\n\n\n

    One of the key attractions for Coinbase lies in FTX Europe's highly profitable derivatives business and its steadily growing customer base. Derivatives, essentially financial contracts whose value is derived from underlying assets like Bitcoin (BTC), have emerged as a lucrative market for traders and the exchanges facilitating these transactions.<\/p>\n\n\n\n

    Crypto Industry Shifts<\/h2>\n\n\n\n

    What sets FTX Europe apart is its exclusive license to offer perpetual futures, a popular derivative product, in the European region. These licenses have garnered considerable interest from potential buyers, not just Coinbase. Crypto.com and Trek Labs, two other prominent names in the crypto industry, have reportedly expressed their interest in acquiring FTX Europe.<\/p>\n\n\n\n

    In addition, Europe is attracting other crypto companies. Galaxy Digital, the crypto group headed by US billionaire Mike Novogratz, is charting a new course<\/a> into Europe. The firm recently appointed Leon Marshall, formerly of crypto broker Genesis, as its inaugural head of Europe.<\/p>\n\n\n\n

    The SEC, under the leadership of Chair Gary Gensler, has significantly escalated its enforcement efforts within the crypto industry, aiming to hold those flouting securities laws accountable. David Hirsch, responsible for overseeing crypto enforcement, recently emphasized that the agency's focus extends beyond high-profile exchanges, signaling more enforcement actions ahead.<\/p>\n","post_title":"Coinbase Explored FTX Europe Acquisition Amid Regulatory Challenges: Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-explored-ftx-europe-acquisition-amid-regulatory-challenges-report","to_ping":"","pinged":"","post_modified":"2023-09-28 23:19:06","post_modified_gmt":"2023-09-28 13:19:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13554","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13551,"post_author":"15","post_date":"2023-09-28 22:55:09","post_date_gmt":"2023-09-28 12:55:09","post_content":"\n

    The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

    In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

    \u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

    What will happen to non-compliance?<\/h2>\n\n\n\n

    Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

    The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

    These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

    Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

    The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

    The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    1 … 6 7 8 9 10 … 18

    Most Read

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    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

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    \n
  • Coinbase wanted to acquire FTX Europe to access regional licenses. <\/li>\n\n\n\n
  • FTX Europe's profitable derivatives business also attracted the exchange.<\/li>\n<\/ul>\n\n\n\n

    Coinbase had recently been in discussions regarding the acquisition of FTX Europe. This endeavor was a strategic response by the crypto exchange to the challenges posed by regulatory tightening within the United States. <\/p>\n\n\n\n

    Additionally, this ambitious move was driven by Coinbase's desire to bolster its derivatives business. According to a report by Fortune, the talks did not progress to an advanced stage. FTX Europe<\/a>, previously part of its parent company's portfolio before declaring bankruptcy, is now on the market. <\/p>\n\n\n\n

    One of the key attractions for Coinbase lies in FTX Europe's highly profitable derivatives business and its steadily growing customer base. Derivatives, essentially financial contracts whose value is derived from underlying assets like Bitcoin (BTC), have emerged as a lucrative market for traders and the exchanges facilitating these transactions.<\/p>\n\n\n\n

    Crypto Industry Shifts<\/h2>\n\n\n\n

    What sets FTX Europe apart is its exclusive license to offer perpetual futures, a popular derivative product, in the European region. These licenses have garnered considerable interest from potential buyers, not just Coinbase. Crypto.com and Trek Labs, two other prominent names in the crypto industry, have reportedly expressed their interest in acquiring FTX Europe.<\/p>\n\n\n\n

    In addition, Europe is attracting other crypto companies. Galaxy Digital, the crypto group headed by US billionaire Mike Novogratz, is charting a new course<\/a> into Europe. The firm recently appointed Leon Marshall, formerly of crypto broker Genesis, as its inaugural head of Europe.<\/p>\n\n\n\n

    The SEC, under the leadership of Chair Gary Gensler, has significantly escalated its enforcement efforts within the crypto industry, aiming to hold those flouting securities laws accountable. David Hirsch, responsible for overseeing crypto enforcement, recently emphasized that the agency's focus extends beyond high-profile exchanges, signaling more enforcement actions ahead.<\/p>\n","post_title":"Coinbase Explored FTX Europe Acquisition Amid Regulatory Challenges: Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-explored-ftx-europe-acquisition-amid-regulatory-challenges-report","to_ping":"","pinged":"","post_modified":"2023-09-28 23:19:06","post_modified_gmt":"2023-09-28 13:19:06","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13554","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13551,"post_author":"15","post_date":"2023-09-28 22:55:09","post_date_gmt":"2023-09-28 12:55:09","post_content":"\n

    The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning to cryptocurrency businesses. The regulator urges firms to adhere to new financial promotion regulations, which most businesses seem to be neglecting.<\/p>\n\n\n\n

    In a public letter released, <\/a> FCA revealed that out of over 150 firms surveyed, only 24 have responded. These regulations, set to take effect next month, will significantly limit how financial promotions from \"unauthorized and unregistered crypto businesses\" can be conveyed.<\/p>\n\n\n\n

    \u201cWe are concerned by the poor engagement from many unregistered, overseas crypto asset firms who have U.K. customers on this important change,\u201d<\/em> wrote the FCA in its statement.<\/p>\n\n\n\n

    What will happen to non-compliance?<\/h2>\n\n\n\n

    Starting on October 8, crypto firms are required to stop making unlawful financial promotions to UK consumers. Penalties for continuing such activities could involve \"up to 2 years imprisonment, an unlimited fine, or both.\"<\/em><\/p>\n\n\n\n

    The FCA's rules specifically prohibit unauthorized crypto firms from sharing promotions that encourage UK customers to invest in cryptocurrencies. A rule that already applies to other financial products. Communications are restricted to providing \"purely factual information\".<\/em> Which also limits instructions to existing customers on how to \"transfer, withdraw, or sell their existing assets.\"<\/em><\/p>\n\n\n\n

    These regulations encompass communications made via apps and social media. A separate set of guidelines from the FCA indicated that crypto memes could potentially violate the agency's promotion rules.<\/p>\n\n\n\n

    Recently, there were rumors <\/a>that the crypto exchange Bybit was considering exiting the UK. The reason is due to the challenges of complying with these rules. Bybit's CEO, Ben Zhou, clarified that compliance remains the company's top priority. But no final decisions had been made regarding the company's future in the region.<\/p>\n\n\n\n

    The FCA also intends to hold accountable firms associated with non-compliant advertisements, such as social media apps, search engines, app stores, and payment companies. These entities could face money laundering charges if connected with unregistered crypto firms.<\/p>\n\n\n\n

    The FCA's letter concluded by advising firms that believe they will breach the regulations to urgently evaluate their situation.<\/p>\n","post_title":"Crypto Companies Face Legal Threats As UK FCA Cracks Down On Promotion Violations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-companies-face-legal-threats-as-uk-fca-cracks-down-on-promotion-violations","to_ping":"","pinged":"","post_modified":"2023-09-28 22:56:52","post_modified_gmt":"2023-09-28 12:56:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    1 … 6 7 8 9 10 … 18

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

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