🔒 Komainu, a crypto custody joint venture by Nomura, Ledger, and CoinShares, has successfully registered with the U.K. Financial Conduct Authority (FCA) just before the new promotions rules took effect. Firms must now be registered in the U.K. to approve their own ads and provide appropriate risk warnings, with non-compliance risking up to two years in prison.
📋 There are currently 42 firms on the FCA register, but 300 applications have been received since the registration regime opened in 2021. FCA-registered crypto firms must comply with the country's anti-money laundering rules.
🚨 In response to the new ad rules, some unregistered companies have withdrawn services or stopped serving certain clients, while others like Binance rely on other companies to approve their ads. Coinbase added risk disclaimers to its website, and OKX reduced its token offerings in the U.K.
🚫 The FCA quickly updated its list of unauthorized firms, adding over 100 firms, including KuCoin and Houbi, to its warning list.
💬 What do you think about these new regulations? Share your thoughts in the comments!
📋 There are currently 42 firms on the FCA register, but 300 applications have been received since the registration regime opened in 2021. FCA-registered crypto firms must comply with the country's anti-money laundering rules.
🚨 In response to the new ad rules, some unregistered companies have withdrawn services or stopped serving certain clients, while others like Binance rely on other companies to approve their ads. Coinbase added risk disclaimers to its website, and OKX reduced its token offerings in the U.K.
🚫 The FCA quickly updated its list of unauthorized firms, adding over 100 firms, including KuCoin and Houbi, to its warning list.
💬 What do you think about these new regulations? Share your thoughts in the comments!