Starting today, cryptocurrency investors will have to declare which type of investments they action and answer questions on a variety of financial services and regulations if they wish to keep on trading on these platforms. On this declaration, users must choose an investor profile, which is either high net-worth above £100,000, more than £250,000, or…
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In November, Baidu reported that Ernie had already attracted 70 million users. The announcement underscores Baidu's efforts to compete with tech giants Tencent and Alibaba in commercialising services similar to ChatGPT in the vast Chinese internet landscape. The increasing user base reflects the growing popularity and adoption of AI-driven chatbots, marking a significant milestone for…
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Reportedly, this is yet another attempt to keep the battling beauty retailer afloat. In April, Natura sold Aesop, another one of its subsidiaries, to L’Oreal (OR.PA) for just over $2.5bn. In its press release, the company stated: With the transaction, Natura &Co will strengthen and deleverage its balance sheet, freeing up resources to focus on…
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To implement this initiative, the FCA intends to initiate a competitive tender process to select a single provider for the CT in the bond market. This plan is a crucial component of the Edinburgh reforms and is expected to be realized through collaboration with the government by 2024. Sarah Pritchard, executive director of markets and…
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Regulatory licence momentum The latest registration in Spain for Crypto.com continues the cryptocurrency platform’s momentum of gaining regulatory approvals in the UK, France, South Korea, Singapore, Italy, Australia, and other regions. The company recently obtained a Major Payment Institution (MPI) licence for Digital Payment Token (DPT) from the Monetary Authority of Singapore (MAS) in Singapore.…
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Asset Turysov, Vice Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, said: Over the past year, regulators in Kazakhstan have taken significant steps towards the development of the cryptocurrency industry. Binance has provided assistance to Kazakhstan in the development of a legislative framework and a general policy for the regulation of crypto assets,…
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The supervisory briefing states that regulated firms should be transparent and accurate in their marketing communication, disclosing all costs and charges related to their copy trading services. Offered products must prioritize the clients' best interests, and firms should ensure that traders whose trades are replicated have the requisite qualifications and expertise. ESMA and National Competent…
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The official announcement further pointed out that crypto assets are relatively new and constantly evolving and as a new sector it continues to experience high volatility levels. Furthermore, the recent failures of high-profile companies following the collapse of FTX have “exposed the structural vulnerability of some business models in the sector.” The announcement stated: Our…
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Furthermore, the prosecutor’s office stated that more than 3.6 million transactions have gone through Nexo, some of which involving “risky players”. Nexo has not responded to local media for comment but has posted on Twitter, speaking against the investigation. The company also said that they have taken preventive measures against money laundering. The company tweeted:…
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Earlier in March, Crypto.com made several senior hires in the UK. The company appointed a UK General Manager and a Global Head of Sustainability and ESG. In recent years, the UK has been a promising market for cryptocurrency with a 650% increase in adoption from 2018 to 2021, according to research by BanklessTimes. Crypto.com continues…
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