FCA on crypto marketing: If firms do not improve we will act
All firms communicating financial promotions must make sure they have strong systems and controls for compliance in place.
All firms communicating financial promotions must make sure they have strong systems and controls for compliance in place.
PayPal’s UK crypto license is one of only four granted by the FCA during 2023 – the other being to Bitstamp, Komainu, and Interactive Brokers.
The FCA has issued a final warning for cryptoasset firms marketing to UK consumers and those supporting them to get ready for the financial promotion regime.
The UK FCA has not been given regulatory oversight over the direct investments in cryptoassets and NFTs.
The UK will also proactively explore the potentially transformative benefits of Distributed Ledger Technology (DLT) in UK financial markets.
Enigma was temporarily registered under the 2017 MLR update, before the FCA approved the firm’s registration application.
The FCA admits its experience of processing applications indicates that the cryptoasset sector is going to be costly to supervise.