With these financial results, ATFX UK expressed confidence in its strong balance sheet and its ability to achieve long-term strategic goals. The company pledged to continue direct marketing efforts in the European Economic Area and other authorized international territories. The company stated in the report that its primary focus will be on current high net…
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Leif Abraham, co-CEO and co-founder of Public, said: London and the broader UK market has always been the financial epicenter of Europe, so it's a natural place for Public to start our international expansion. Public has always had European roots: my co-founder and I are both European, and we have a team across multiple European…
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Introduced in July 2022, the legislation expands the authority of regulators over the financial system, encompassing cryptocurrencies. The bill underwent parliamentary discussions, amendments were incorporated to classify all crypto-related activities as regulated and to oversee crypto promotions, as well. Furthermore, the bill brings stablecoins to the existing framework of payment regulations. HM Treasury added in…
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Binance recently withdrew its registration as a crypto service provider in Cyprus, saying it was focusing “on fewer regulated entities in the EU.” The exchange also announced exiting the Netherlands. Additionally, the company is facing legal trouble in the US with a lawsuit from the Securities and Exchange Commission for operation of an unregistered trading…
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Previously, Binance had a conflict with UK regulators who suggested that the exchange was incapable of being regulated due to its failure to provide necessary information about its business activities. In June 2021, the FCA banned Binance from undertaking any regulated activity in the country. The crypto exchange has faced scrutiny from US regulators this…
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eToro also noted that the launch of the ISA solution will be based on “a phased approach” and more products will be integrated in the near future. Dan Moczulski, UK Managing Director, eToro said: We may be a global platform but we are constantly looking for ways to evolve our local offering, and the addition…
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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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Clare Cole, the Director of Market Oversight at the Financial Conduct Authority, said: The London market is trusted the world over by companies looking to raise capital and those wishing to invest in them. That trust is created by strong standards and a world-leading concentration of buyers, sellers and the advisers who support them. The…
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Around 2.3 million people in the UK are thought to be holding crypto assets, according to an estimate. This move will hopefully ensure that cryptoasset advertisements are “fair, clear, and not misleading.” Chancellor of the Exchequer, Rishi Sunak said: Cryptoassets can provide exciting new opportunities, offering people new ways to transact and invest – but…
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The FCA has expressed serious concerns regarding the sales and marketing practices of the EverFX Group. The regulator found the company used misleading financial promotions, failed to inform consumers about the nature and risks of CFDs, applied pressure to invest additional funds, instructed clients on which trades to make, and failed to allow customers to…
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