Cryptocurrency News Today TheBitTimes.com

The UK’s Financial Conduct Authority (FCA) says it is clearing an ‘operational backlog’ by approving an increasing number of registering crypto firms and growing its crypto capability to 100 employees.  In a speech given yesterday, the FCA’s joint executive director of enforcement and market oversight, Steve Smart, said that crypto firms are registering with the regulator at an increased rate thanks to the FCA helping them to better navigate its registration process.  Smart said that prior to this, “some 86% of the initial crypto registrations we received were rejected, withdrawn or refused.” He said a total of 44 crypto firms are now registered with the FCA while the watchdog works “to eliminate our operational backlog.”  To help it relieve this logjam, the Financial News (FN) reported today that the FCA has increased its crypto staff to 100 and that the fastest-growing crypto team in the organization is its policy department .   FCA too slow on crypto enforcement, says UK...

With the FCA’s new regulations, UK crypto firms face enhanced oversight, setting a potential global precedent for crypto marketing standards. Read how. On Oct. 8, 2023, the Financial Conduct Authority (FCA) unveiled a fresh set of rules governing the promotion of crypto assets, a move aimed at bolstering the protection of investors while ushering in enhanced clarity within this dynamic sector.  Anchoring this rollout is the FCA’s Policy Statement PS23/6, a comprehensive document that outlines the stipulations and relevant guidance associated with these new promotional rules. Stringent requirements now bind firms aiming to promote crypto assets in the UK: they must either be authorized, registered, or have their marketing vetted by an authorized entity. FCA warning list for non-compliant crypto companies (advertising in the UK) goes out It's 500 pages full of mostly scams. Let's see if this list does anything to stop these companies. It's hard to have an ...