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CryptoCurrency

UK Tables New Bill to Clarify Legal Status of Digital Assets

  • The bill categorises digital assets as “things,” similar to other personal property.
  • The government argues that the proposed legislation would provide legal protection to digital asset owners.
Thursday, 12/09/2024 | 08:26 GMT by Arnab Shome
Retail FX

EMIR REFIT for the UK Will Become Effective This Month: How Should Firms Prepare?

  • As EMIR REFIT UK becomes effective, firms might face challenges with reporting, UTIs, and XML validations.
  • The UK Trade Repositories appear to have learned from the EU rollout of EMIR REFIT and decided to copy and migrate some real trades to the UAT environment for full lifecycle testing.
Thursday, 12/09/2024 | 06:30 GMT by Quinn Perrott
FinTech

Revolut Becomes a UK Bank, but What Does a 'Mobilisation' Stage Mean?

  • Revolut has up to 12 months to exit the ‘mobilisation’ stage.
  • The fintech will continue to offer services as a payment institution while it is in the ‘mobilisation’ stage.
Thursday, 25/07/2024 | 09:53 GMT by Arnab Shome
Retail FX

Number of Active Leveraged Traders in the UK Is on Decline, but More Continues Trading

  • There were 173,000 active leveraged traders in the UK at the end of May.
  • Leveraged traders who continued to trade jumped to 124,000 from 110,000 over two consecutive years.
Tuesday, 02/07/2024 | 11:24 GMT by Arnab Shome
Payments

Payment System Outages Highlight Vulnerabilities in Banking Infrastructure

  • Service disruptions at HSBC, Nationwide reveal digital banking weaknesses.
  • Ripple effects of technical failures.
Friday, 28/06/2024 | 16:09 GMT by Pedro Ferreira
FinTech

Revolut Joins Hands with BRCC: Bridging Trade between UK and Romania

  • In 2023, the firm processed almost 74,000 transactions per hour for its Romanian retail customers.
  • Revolut Bank UAB, licensed by the European Central Bank and regulated by the Bank of Lithuania, operates in 30 EU markets.
Friday, 07/06/2024 | 14:43 GMT by Tareq Sikder
Payments

Behind the Mastercard and Visa Crackdown: How the PSR Scrutinizes Card Scheme Fees

  • The Payment Systems Regulator answers key questions on proposed reforms.
Wednesday, 22/05/2024 | 14:08 GMT by Pedro Ferreira
CryptoCurrency

UK Firm Offered “100 Certy” Crypto Investment Advice; Gets Wind-up Order

  • Most of the consumers of Amey Finance Academy lost their investments.
  • The company even had ties with HyperFund, a $1.7 billion crypto Ponzi scheme.
Wednesday, 15/05/2024 | 05:42 GMT by Arnab Shome
Payments

Open Finance: The Nanny State Gets a Fintech Friend?

  • Can the UK government initiative truly foster disruptive innovation this space needs?
Tuesday, 16/04/2024 | 16:00 GMT by Pedro Ferreira
Payments

The Great APP Heist: Rethinking Responsibility in a Digital Age of Deception

  • A look into how the UK is handling APP fraud.
Thursday, 11/04/2024 | 16:00 GMT by Pedro Ferreira
Retail FX

Axi's UK Unit Doubles FY23 FX and CFDs Revenue to $27.5 Million

  • The company netted $2.07 million in net profits for the year.
  • The average month-end client money balance jumped to $21.3 million.
Thursday, 04/04/2024 | 08:23 GMT by Arnab Shome
Retail FX

Pepperstone's UK Profit Jumps to £10M in FY23 with a Spike in Non-Trading Revenue

  • The trading revenue of the UK-registered subsidiary jumped 30 percent.
  • The company ended the year with over £10 million in net profit.
Wednesday, 03/04/2024 | 05:36 GMT by Arnab Shome
Brokers

Robinhood Launches in the UK, but ‘Pauses’ Margin Trading

  • The broker initially launched margin trading under “regulatory exemption” but is now in talks with the regulator.
  • It offers zero-fee services to UK customers.
Tuesday, 19/03/2024 | 07:51 GMT by Arnab Shome
Retail FX

FCA Naming Firms under Probe May “Cause Circumstances to Spiral out of Control”

  • Deterrence is a key factor in enforcement, but it is not a goal that stands alone.
  • With regard to the FCA’s initiative, deterrence will probably grow, but it comes at a price.
Tuesday, 05/03/2024 | 15:29 GMT by Zvi Gabbay
CryptoCurrency

Revolut Folds in UK, Robinhood Bets on EU: What’s Shaping Crypto in Europe?

  • Both the UK and EU are bridging crypto-specific rules and regulations.
  • The UK’s rules are mainly around the limitations of crypto promotions.
Tuesday, 19/12/2023 | 11:17 GMT by Arnab Shome
Retail FX

'Double Dipping': FCA Wants Investment Platform to Cease the Controversial Practice

  • Many investment firms retain interest in customers' cash balances and charge fees for cash management.
  • UK firms have until 29 February to address the issues raised by the FCA.
Tuesday, 12/12/2023 | 08:20 GMT by Arnab Shome
Executive Moves

Revolut Hires UK CEO Ahead of Banking License Approval

  • The UK fintech applied for a banking license in the country in 2021.
  • Francesca Carlesi will head the Revolut entity that has applied for the banking license.
Thursday, 02/11/2023 | 10:35 GMT by Arnab Shome
CryptoCurrency

UK Clarifies FCA’s Incoming Role in Regulating Stablecoins

  • The UK government is planning to propose legislation around stablecoin next year.
  • The FCA will have a broader oversight of the fiat-backed stablecoins.
Monday, 30/10/2023 | 10:58 GMT by Arnab Shome
Retail FX

No More “Screen Switching”: Pepperstone Floats Spread Betting on TradingView

  • The feature is available to the broker's traders in the UK.
  • Pepperstone UK during fiscal year 2022 saw a surge in profit before tax.
Thursday, 31/08/2023 | 17:20 GMT by Solomon Oladipupo
Retail FX

Trade Nation Caps Off 2022 with 300% Profit Growth in the UK

  • The CFD provider recently got licensed in Seychelles.
  • The firm continues to build up its presence in the sports industry.
Wednesday, 16/08/2023 | 21:56 GMT by Solomon Oladipupo
CryptoCurrency

300 Crypto Firms Jostled; Only 13% Clear UK FCA's Registration Hurdle

  • The British watchdog refused five applications and rejected 22.
  • FCA's rules on advertising digital assets will come into force on October 8, 2023.
Monday, 14/08/2023 | 14:14 GMT by Solomon Oladipupo
Retail FX

Hirose UK's Profit Swells by 400% in 2023, but Turnover Mirrors 2021

  • The British broker's profit previously sank 87% to £59K.
  • However, the new profit level pales compared to the £465K from the fiscal year 2021.
Friday, 11/08/2023 | 22:28 GMT by Solomon Oladipupo
Retail FX

Darwinex’s Profit Soars 70% in the UK as Trader Equity Remains Stable

  • Darwinex's operator, Tradeslide, reported 117% growth in AUM.
  • The broker recently integrated with Interactive Broker and launched Darwinex Zero.
Friday, 04/08/2023 | 20:57 GMT by Solomon Oladipupo
Retail FX

CFI Invests in European Football, Inks Deal with Sheffield United

  • The broker says the deal will provide "worldwide exposure for our business."
  • The firm has already established its presence in the MENA sports industry.
Friday, 04/08/2023 | 17:06 GMT by Solomon Oladipupo
Retail FX

Consumer Duty Comes into Effect in the UK

  • Consumer duty rules for products and services that are open for sale and renewal have become effective.
  • A survey found that a third of the firms would not fully comply with the rules by the deadline.
Monday, 31/07/2023 | 06:01 GMT by Arnab Shome
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