Clearbank eyes flurry of new products amid ‘huge demand’ for fintech September 30, 2024 ClearBank is eyeing up a string of new business lines after hitting profitability and taking its first steps towards international expansion.
Premier League fantasy football partner Sorare charged by Gambling Commission September 26, 2024 Cryptocurrency based fantasy football game Sorare, an official Premier League partner, has been ordered to appear in court next week on the charge of providing unlicensed gambling facilities to British consumers. The charges have been brought by the Gambling Commission, which first opened an investigation into Sorare in October 2021, and could lead to unlimited [...]
‘Intense’ consumer duty rules driving up regulatory pressure on City, KPMG says September 26, 2024 The Financial Conduct Authority's "intense" supervision of its flagship consumer duty regime is driving an increase in regulatory pressure felt by City firms, according to KPMG.
City regulator charges first individual with running illegal crypto ATM network September 10, 2024 The City watchdog has brought its first charges against an individual for running a network of illegal cryptocurrency ATMs.
Ticketmaster’s dynamic pricing is hypocrisy in action September 6, 2024 There is nothing like the shrill clatter of the hoves of hypocrisy across the cobbles of capitalism to set one’s teeth on edge. Like the squeal of chalk across the blackboard, it discombobulates in a most uncomfortable way. So just what it is that has me clenching my jaw and wishing the noise would stop [...]
FCA goes six months without registering a single crypto firm amid criticism of tough regime August 27, 2024 The City watchdog has gone six months without registering a crypto firm, amid criticism that its tough approach to regulation poses a risk to the UK's competitiveness in digital assets.
Britain missing out on billions of crypto tax revenue as HMRC fights back August 27, 2024 The UK could be missing out on billions in tax revenue from crypto investors that is currently going unreported. As Norwegian tax returns are public, recent research from Norway was able to find that 88 per cent of all Norwegian crypto investors fail to declare their holdings. While each tax-avoiding investor owed on average between [...]
US accuses Georgia government of running scam call centres August 14, 2024 The Georgian government has been accused of operating scam call centres that defraud UK investors of millions each year. The Commission on Security and Cooperation in Europe – also known as “the Helsinki Commission” – called on the US State Department to launch an immediate crackdown on the Georgian Dream party. A statement released by [...]
All that glitters is gold: Investors flock to safe haven bullion amid market turmoil August 9, 2024 Amid the market turmoil at the start of this week, retail investors flocked to the safe haven asset of gold as they wrongly feared stocks would continue to sink. Bullion trading on the Royal Mint’s website shot up by 336 per cent on Monday compared to the average throughout the year, with the numbers of [...]
Watchdog cracks the whip on crypto firms after compliance failures August 8, 2024 The Financial Conduct Authority has complained that crypto companies are failing to comply with new rules regulating their advertising, with many attempting to skirt the rules. “We have seen firms relying on industry comparisons to benchmark what is acceptable. Given the levels of poor practice in the market, firms should not be doing this,” complained [...]