UK regulators target Revolut for 'material misstatement' in audit: Report
“The auditors are being significantly more challenging now, because they’re getting beaten up by their regulators,” an individual familiar with Revolut's situation reportedly said. The United Kingdom’s Financial Reporting Council has reportedly found flaws in the audit of cryptocurrency-friendly payments app Revolut tha included an “unacceptably high” risk of “material misstatement.”According to a Monday report from the Financial Times, the U.K. Financial Reporting Council criticized the results of a Revolut audit released in July by accountancy and business advisory firm BDO, claiming the....
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Revolut had been the last "holdout" out of the 12 companies originally granted FCA temporary registration to continue offering crypto services in March. The United Kingdom’s Financial Conduct Authority, or FCA, has added cryptocurrency-friendly payments app Revolut to its list of companies authorized to offer crypto products and services in the country.In a Monday update to its list of registered crypto asset firms in the U.K., the FCA showed Revolut was in compliance with amended regulations from 2017 on "Money Laundering, Terrorist Financing and Transfer of Funds." The fintech firm....
The cryptocurrency-infused financial tech company Revolut has announced it has purchased a Wework office with bitcoin. Revolut detailed that the office space in Dallas, Texas will house 300 employees to prepare for the company’s U.S. expansion.
Revolut Pays Bitcoin for Wework Property in Texas
On September 16, 2021, Revolut, the fintech firm that offers users cryptocurrency services and aims to provide the world with a “global financial superapp” announced a deal with Wework. According to the announcement, Revolut will be leveraging the Wework workspace at....
Seemingly a match made in heaven, Revolut the disruptive UK bank with over 15 million customers, has teamed up with Polkadot, the visionary blockchain technology that promotes interoperability at scale, to offer a listing of the DOT token on its app. Revolut, which was founded in 2015 is the UK’s fastest-growing financial app, and has […]
The Financial Conduct Authority claims that the company “may be providing financial services or products without authorization.” The Financial Conduct Authority (FCA), the chief financial regulator in the United Kingdom, issued a warning to Bahama-based crypto exchange FTX, claiming it operates without authorization. The company joined a growing list of unregistered cryptocurrency-related businesses that continue to outweigh those signed up with the FCA. A warning note, dated Sept. 16, claims that the firm “may be providing financial services or products in the UK without authorization.”....
Revolut has entered the crypto educational sector with a new initiative designed to foster “financial literacy.” The program, which will teach crypto newcomers the basics of digital assets, starts with a primer on all things Polkadot – and there’s $15 of DOT up for grabs. Crypto saving app and debit card service Revolut has been […]