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💰Coinbase UK fined $4.5 million by FCA! Is the UK's cryptocurrency regulation becoming clearer?
Let's talk about the UK's cryptocurrency regulation. Coinbase UK has just been fined $4.5 million by the Financial Conduct Authority (FCA), which has caused quite a stir in the industry. 🔍
On July 25, Coinbase was fined a large sum of money for violating the agreement signed with the FCA. The agreement was originally intended to prevent the acceptance of high-risk customers, but Coinbase failed to do so. This has caused investors to worry whether the UK will take stricter regulatory measures on cryptocurrencies? 📊
But don't worry, some legal experts say that this fine may only be a "one-off" enforcement action and does not mean that the UK will take action against the entire cryptocurrency industry. 👩⚖️
At the same time, a partner at a commercial crime law firm named Charlotte Tregunna believes that the FCA's action does not represent a tougher stance on the cryptocurrency field. She told reporters that the FCA usually does not easily use its enforcement powers unless it really has to. 💨
Moreover, the focus of the FCA's investigation is actually Coinbase's electronic money transfer service, not its crypto asset trading business. This may indicate from the side that the FCA still hopes to be a cryptocurrency-friendly regulator, but only hopes that the exchange platform can keep up with the pace of regulation and compliance. 🚶♂️
🤔 Although Coinbase's fine has attracted widespread attention in the market, British regulators seem to be more inclined to adopt a balanced regulatory strategy that protects the safety of consumers and the market while avoiding stifling innovation. Therefore, it is believed that this incident may be a punishment for Coinbase's individual behavior rather than a warning to the entire industry.
🌐However, this should also sound a wake-up call to all cryptocurrency platforms: compliance cannot be ignored. With the rapid development of the cryptocurrency industry, platforms must strengthen internal governance and compliance culture to adapt to the changing regulatory environment.
💬What do you think of Coinbase's fine? At the same time, how do you think regulators should balance innovation and compliance? Welcome to share your views in the comments section!
#Coinbase #加密货币监管 #罚款 #合规 #FCA
Let's talk about the UK's cryptocurrency regulation. Coinbase UK has just been fined $4.5 million by the Financial Conduct Authority (FCA), which has caused quite a stir in the industry. 🔍
On July 25, Coinbase was fined a large sum of money for violating the agreement signed with the FCA. The agreement was originally intended to prevent the acceptance of high-risk customers, but Coinbase failed to do so. This has caused investors to worry whether the UK will take stricter regulatory measures on cryptocurrencies? 📊
But don't worry, some legal experts say that this fine may only be a "one-off" enforcement action and does not mean that the UK will take action against the entire cryptocurrency industry. 👩⚖️
At the same time, a partner at a commercial crime law firm named Charlotte Tregunna believes that the FCA's action does not represent a tougher stance on the cryptocurrency field. She told reporters that the FCA usually does not easily use its enforcement powers unless it really has to. 💨
Moreover, the focus of the FCA's investigation is actually Coinbase's electronic money transfer service, not its crypto asset trading business. This may indicate from the side that the FCA still hopes to be a cryptocurrency-friendly regulator, but only hopes that the exchange platform can keep up with the pace of regulation and compliance. 🚶♂️
🤔 Although Coinbase's fine has attracted widespread attention in the market, British regulators seem to be more inclined to adopt a balanced regulatory strategy that protects the safety of consumers and the market while avoiding stifling innovation. Therefore, it is believed that this incident may be a punishment for Coinbase's individual behavior rather than a warning to the entire industry.
🌐However, this should also sound a wake-up call to all cryptocurrency platforms: compliance cannot be ignored. With the rapid development of the cryptocurrency industry, platforms must strengthen internal governance and compliance culture to adapt to the changing regulatory environment.
💬What do you think of Coinbase's fine? At the same time, how do you think regulators should balance innovation and compliance? Welcome to share your views in the comments section!
#Coinbase #加密货币监管 #罚款 #合规 #FCA
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Tether’s USDT’s key role in the global financial system and its compliance prospects
Paolo Ardoino, CEO of Tether, recently highlighted the key role of its stablecoin USDT in increasing demand for the U.S. dollar in emerging markets. He pointed out that USDT not only fuels demand for U.S. public debt, but also provides financial services to more than 300 million users worldwide.
Ardoino’s comments were reportedly in response to an article that stated that dollar-backed stablecoins fueled demand for U.S. public debt.
More than 300 million people use USDT
Paolo Ardoino, CEO of Tether, revealed that more than 300 million people around the world use USDT as a digital dollar to provide basic financial services to communities in developing countries. This stablecoin bypasses the traditional financial system by improving the efficiency of fund transfer and storage, providing convenience for underserved populations that are usually excluded from banking services.
Ardoino’s comments were reportedly in response to an article that stated that dollar-backed stablecoins fueled demand for U.S. public debt.
More than 300 million people use USDT
Paolo Ardoino, CEO of Tether, revealed that more than 300 million people around the world use USDT as a digital dollar to provide basic financial services to communities in developing countries. This stablecoin bypasses the traditional financial system by improving the efficiency of fund transfer and storage, providing convenience for underserved populations that are usually excluded from banking services.
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Must-read for users | The future is here. How can the crypto industry survive and innovate under strict regulations? —— Experts deeply interpret the judicial interpretation of the Supreme People’s Court and the Supreme People’s Procuratorate
Against the backdrop of the ever-changing global cryptocurrency regulation. On August 19, the Supreme People's Court and the Supreme People's Procuratorate of China jointly issued an interpretation on several issues concerning the application of law in handling criminal cases of money laundering, which clearly listed "virtual asset" transactions as one of the methods of money laundering. The "interpretation" has caused widespread discussion in the industry, and some traffic media and users have many misunderstandings about the "interpretation". After paying attention to the response of the market and the community, we are also thinking about how to promote the stability and transparency of the industry on the basis of compliance, while promoting growth and innovation? At 22:00 on the evening of August 28 (UTC+8), 137Labs, OKLink and many industry experts jointly held an X Space with the theme of [In-depth interpretation of the judicial interpretation of the "two highs" to clarify the identification standards of money laundering crimes, "virtual asset" transactions are included, where is the future of the crypto industry? ]
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SEC Chairman Gensler Criticizes Cryptocurrency Industry for Being Non-compliant and Highly Centralized
Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), reiterated his criticism of the cryptocurrency industry in an interview with Bloomberg on June 25. Gensler pointed out that although the industry claims to be decentralized, it is actually highly centralized and seriously non-compliant.
Gensler not only downplayed the decentralized nature of the crypto industry, but also criticized some platforms for centralized and hybrid behavior, saying that these behaviors are unacceptable in other fields. He also listed some violations in the industry, including customer trading, front-loading transactions, and accepting investments before listing.
Gensler not only downplayed the decentralized nature of the crypto industry, but also criticized some platforms for centralized and hybrid behavior, saying that these behaviors are unacceptable in other fields. He also listed some violations in the industry, including customer trading, front-loading transactions, and accepting investments before listing.
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How should retail investors view the latest judicial interpretations of the Supreme People's Court and the Supreme People's Procuratorate, and how to ensure that they are not involved in illegal activities and "black U"? Three senior lawyers, OTC merchants and security product professionals will provide you with in-depth interpretation! #安全出金小常识 #法律诉讼 #合规 #3friends #usdt各种套路合集
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Must-read for users | The future is here. How can the crypto industry survive and innovate under strict regulations? —— Experts deeply interpret the judicial interpretation of the Supreme People’s Court and the Supreme People’s Procuratorate
Against the backdrop of the ever-changing global cryptocurrency regulation. On August 19, the Supreme People's Court and the Supreme People's Procuratorate of China jointly issued an interpretation on several issues concerning the application of law in handling criminal cases of money laundering, which clearly listed "virtual asset" transactions as one of the methods of money laundering. The "interpretation" has caused widespread discussion in the industry, and some traffic media and users have many misunderstandings about the "interpretation". After paying attention to the response of the market and the community, we are also thinking about how to promote the stability and transparency of the industry on the basis of compliance, while promoting growth and innovation? At 22:00 on the evening of August 28 (UTC+8), 137Labs, OKLink and many industry experts jointly held an X Space with the theme of [In-depth interpretation of the judicial interpretation of the "two highs" to clarify the identification standards of money laundering crimes, "virtual asset" transactions are included, where is the future of the crypto industry? ]
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