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UK FCA Cautions Banks Against Crypto Risks - Latest News


UK FCA cautions banks against crypto risks

The UK Financial Conduct Authority has issued a letter to banks highlighting the potential of cryptoassets to be used for illicit activities and urging them to enhance their scrutiny when dealing with clients engaged in crypto-related activities. read more

UK Financial Regulator Advises Banks on How to Manage Risks of ‘Crypto Assets’

The UK’s Financial Conduct Authority ... risk of falling victim to investment fraud.” In April, the Central Bank of Kenya (CBK) issued a similar warning to the banks in the country, warning them against providing services to crypto dealers. read more

The FCA just sent a warning letter about cryptos

The UK ... FCA is differentiating between high-risk investors and those who aren't, as not all crypto activity is fraudulent. Given the crypto market is only likely to proliferate further, providing banks with guidance on how to insulate themselves against ... read more

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FCA Urges UK Banks to Adopt Robust Security Measures Against ‘Risky’ Cryptocurrency Business

The FCA encouraged banks ... apply to crypto-assets. However, the agency insists that such difficulty isn’t a justification for employing other evidential tests for a customer’s source of wealth. Another area of concern for the FCA is the risk posed ... read more


Breakingviews - Banks' crypto caution reveals double standards

LONDON (Reuters Breakingviews) - Banks’ caution over bitcoin reveals ... of card lender MBNA last year. The UK’s Financial Conduct Authority has already issued warnings about the risks of investing in crypto-currencies, which remain unregulated and ... read more

FCA Publishes “Dear CEO” Letter on Cryptoassets and Financial Crime

The UK Financial Conduct Authority (FCA) has published a “Dear CEO” letter dated June 11, on cryptoassets and financial crime. The purpose is to ensure that banks adequately manage the financial crime risks associated with cryptoassets. The FCA defines ... read more

What global central banks are saying about cryptocurrencies

UK ... against cyber attack and overhaul the way payments are made between institutions and consumers. He has nevertheless cautioned the BoE is still a long way from creating a digital version of sterling. France: ‘Great Caution’ Bank of France ... read more

Bitcoin warnings grow more strident as Singapore urges 'extreme caution'

SINGAPORE/LONDON (Reuters) - Global financial regulators are beginning to warn the public against the risks of investing in a market that many feel is in a speculative bubble, with Singapore’s central bank ... s Financial Conduct Authority have issued ... read more

Breakingviews - Banks' crypto caution reveals double standards

LONDON (Reuters Breakingviews) - Banks’ caution over bitcoin reveals ... of card lender MBNA last year. The UK’s Financial Conduct Authority has already issued warnings about the risks of investing in crypto-currencies, which remain unregulated and ... read more



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