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FCA

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28 Feb 23

HSBC restricts crypto purchases on FCA advice

HSBC does not allow crypto purchases using their cards starting Feb. 23 due to possible customer risk. The financial giant claims that the Financial Conduct Authority (FCA) has warned against investing in crypto assets, considering them high-risk and speculative investments. However, HSBC and The Sandbox Metaverse (a virtual world where players can build, own, and […]

26 Jan 23

Crypto firms face uphill battle to meet FCA standards

In a concerning discovery, a new report from the Financial Conduct Authority (FCA) reveals that a staggering 85% of cryptocurrency firms who applied for a license with the regulator failed to meet its minimum standards. Published on Jan. 26, the report, which the Treasury committee of MPs commissioned, exposed a worrying lack of compliance with […]