The Financial Conduct Authority has a tough task, for which it’s heavily criticised. It’s a thankless job, and its recent announcement of “heavy” investment in the FinTech sector shows willingness – though praise for a well-ordered sector is always going to be far away. If there’s a problem, a chorus of critics will be asking […]
On the one hand cryptocurrencies are marching inevitably forward, infiltrating the FinTech sector amongst others – see yesterday’s lead News story. On the other, it’s as though the “establishment” had been biding its time – waiting for weakness (in the form of falling prices and a grizzly bear market) before pushing back and clamping […]
We’re pleased to report that the pipeline of new loans is looking healthy, and new auctions will be landing on site shortly. Meanwhile, we’re continuing our look at the prevailing climate in the regulation of cryptocurrencies by central banks and governments. Crowdfundinsider reports the effects of a major clampdown from the Russian authorities. Cypress-based KoronaPay, a […]
The top financial watchdog, the Financial Conduct Authority, has published a paper on proposed regulation of the way high-risk investments are promoted. Our friends at P2P report the news this way: The Financial Conduct Authority (FCA) said it is planning to ban the promotion of investor incentives, such as new joiner or refer-a-friend bonuses, to […]
Rapidly expanding new asset class, or dangerous speculative gold rush? Cryptocurrencies have been grabbing the headlines with the wild fluctuations of the prices of its leading players. That’s attracted attention and big speculative – without, as speculation implies, necessarily an appreciation of the risks involved. The UK government is now moving to make it more […]
The new year will see a step change on the acceptance of crypto and digital currencies. Cryptos are decentralised digital currencies, controlled by an independent algorithm. Digital currencies are often centrally administered money in a cute digital format. In the UK, we’ll see retail outlets such as the chemist, Boots, take digital payment. That’s just […]
Martin Baker, award-winning journalist and head of communications at Money&Co., opines on central banks, their competition for CBDC dominance and their dislike of cryptos Regulators Dislike Cryptos Regulators by definition cannot control tokens outside their banking system, so their antipathy is natural enough. This can spill over into wishful thinking. The Bank for International Settlements’ […]
Martin Baker, award-winning journalist and head of communications at Money&Co., continues his take on central bank digital currencies (CBDCs). According to trade commentator NonFungible, trading in NFTs jumped by 300% in 2020 topping $250 million. In 2019, the same report said that the NFT market was a mere $62.8 million having dropped by 68% […]
The governments and regulatory authorities of developed nation states have a major imperative: to control the nature of cryptocurrencies and the way they do business. Our friends at Crowdfundinsider reports on a seminal piece of litigation in the US: In December 2020, the Securities and Exchange Commission (SEC) filed a complaint in a New York federal court against Ripple […]
On top of Covid issues, there are genuinely man-made threats to our financial environment – as investors in LCF bonds, as lenders who lost money in the collapse of the Lendy direct lending platform will doubtless agree. The FinTech Times looks at another major man-made problem, and the outlook for regulation in the wake of […]