UK Regulator Warns Crypto Exchange FTX Is Providing Services Without Authoriz...
Britain’s top financial regulator, the Financial Conduct Authority (FCA), has issued a warning about cryptocurrency exchange FTX operating in the U.K. without authorization. “Almost all firms and individuals offering, promoting or selling financial services or products in the U.K. have to be authorized or registered by us,” said the regulator. FCA Warns About FTX Operating Without Authorization The U.K. Financial Conduct Authority (FCA) published a warning on its website Friday regarding crypto exchange FTX. The regulator detailed: We believe this firm....
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Cryptocurrency exchange, Binance, has been taking heat from national regulators this year. Just two days ago, the Monetary Authority of Singapore added Binance to the investor alert list. This action was a result of the exchange’s breach of the Payments Services Act in Singapore. Related Reading | Singapore Regulator Says Binance Unlicensed, Alerts Investors The U.S., […]
The financial regulator of the U.S. state of Arizona has warned investors about crypto interest-bearing accounts. “Some companies may materially overstate the degree to which their collateral practices protect their ability to pay investors the stated return,” the regulator said. State Regulator Warns About Crypto Interest-Bearing Accounts The Arizona Corporation Commission issued an investor alert this week, warning about “digital asset financial services companies that offer interest-bearing crypto-asset accounts.” The regulator explained: “With....
An Australian regulator has warned residents seeking to self-manage their retirement funds to be wary of investing in crypto-asset investments that promise high returns in a short space of time. The regulator reiterates in the warning that crypto-assets are a high-risk and speculative investment. Scammer Tactics The Australian financial services regulator, the Australian Securities and Investments Commission (ASIC), has warned residents that self-manage their superannuation funds to be wary of scammers that are using the lure of quick and high returns offered by crypto assets to defraud....
The Belgian regulator, the Financial Services and Markets Authority (FSMA), says scammers are employing new techniques which target Tinder and Facebook users. Using what the FSMA terms an “emotional scam,” criminals are targeting male users of the dating app Tinder with promises of exceptional returns on investments. However, the purported investments are in fact part of a plot to defraud unsuspecting Tinder users. As soon as the scammer gets the victim’s money, they disappear. Use of Fake Profiles In a public warning issued Dec. 3, the Belgian regulator explains how....
The Financial Conduct Authority (FCA) has issued a public warning against an investment firm promising high returns on cryptocurrency trading. The UK regulator - which oversees more than 70,000 businesses in the financial industry - issued a public warning against Cryptoconomist Limited, registered to a London address, on its website earlier today. In the warning, the FCA said it believed the trading website had been providing "financial services or products in the UK" without its authorisation. "Almost all firms and individuals offering, promoting or selling financial services or products....