Financial Conduct Authority

While markets have been quick to seize the FCA’s latest crypto announcement as an opportunity, there is reason to be more skeptical

ByBit made the announcement a day after the FCA gave crypto companies ‘a final warning’

Crypto ATMs are on track to go extinct in the UK amidst a crackdown from the country’s top financial regulator

No matter where companies are based, all crypto marketing in the UK must stick to strict regulations starting October 8

Regulations include provision prohibits companies from engaging with prospective consumers until they reconfirm interest at least 24 hours later

A wide-ranging bill, which new PM Rishi Sunak helped formulate, will oversee the regulation of cryptoassets and their promotion

The FCA “warned” crypto ATM operators in the UK to “shut their machines down” or “face enforcement action”

Of more than 16,000 possible scams reported to the UK regulator between April and September 2021, about 3,000 were related to cryptocurrencies