UK courts have handed down prison sentences in two high-profile financial crime cases. Raymondip Bedi and Patrick Mavanga were jailed for 5-6 years for running a $2 million fake crypto consultancy scam through companies like CCX Capital, cold-calling victims and laundering money. Separately, analyst Redinel Korfuzi and his sister received prison time for an insider trading scheme that exploited confidential share placements using CFD apps during COVID lockdowns, netting $1.35 million. Both cases demonstrate UK regulators’ focus on crimes that exploit gaps between traditional finance and digital platforms, with the FCA emphasizing how perpetrators ‘rigged the system to satisfy their greed.’ Confiscation proceedings continue in both cases.
about UK Jails Duo in $2M Crypto Scam, Siblings in Insider TradingFinancial Conduct Authority (FCA)
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Barclays Faces Lawsuit Over Epstein Ties
Barclays and ex-CEO Jes Staley must face a lawsuit accusing them of defrauding investors by concealing ties to Jeffrey Epstein. The class-action suit, led by US pension funds, alleges Barclays misrepresented its relationship with Epstein to safeguard its reputation and stock price. Court documents reveal Staley referred to Epstein as ‘family’ in emails, and his close ties led to a UK ban from top financial roles. The fraud claims span from 2019 to 2023, with the judge ruling investors plausibly alleged intentional deception. Staley’s past at JPMorgan, where he maintained ties with Epstein post-conviction, further complicates the case.
about Barclays Faces Lawsuit Over Epstein TiesBarclays Bans Crypto Purchases with Barclaycard
Barclays is prohibiting customers from purchasing cryptocurrencies with Barclaycard credit cards, effective June 27, citing concerns over consumer protection and debt risks. The bank warns that crypto’s price volatility could leave users with unmanageable debts, and digital assets lack UK financial safeguards. This decision follows the Financial Conduct Authority’s (FCA) scrutiny of crypto purchases with borrowed funds. Interestingly, Barclays recently invested $131 million in BlackRock’s Bitcoin ETF, highlighting a contradiction in its approach to crypto. Analysts predict this ban may drive users toward alternative platforms like fintech apps and decentralized services.
about Barclays Bans Crypto Purchases with BarclaycardUK Institutional Investors Eye Crypto ETPs Post-FCA Approval
UK institutional investors representing retail clients are preparing to invest in crypto ETPs pending FCA approval, according to WisdomTree. Dovile Silenskyte, the firm’s Director of Digital Assets Research, revealed that institutional investors are ready to move quickly once the regulator allows retail access. While WisdomTree has filed for an XRP ETF in the U.S., Silenskyte predicts most allocations will focus on Bitcoin due to its uncorrelated volatility and strong historical performance. A smaller portion may go to Ethereum or diversified crypto baskets, particularly for investors lacking in-depth crypto knowledge. The FCA recently approved WisdomTree’s Bitcoin and Ethereum ETPs for professional investors, signaling a shift in regulatory stance.
about UK Institutional Investors Eye Crypto ETPs Post-FCA ApprovalCoinbase CEO Pushes for UK Crypto Regulation Overhaul
Coinbase CEO Brian Armstrong met with senior UK policymakers to support the country’s efforts in shaping clear crypto regulations. The discussions, held in London, aimed to position the UK as a leading crypto hub. Armstrong emphasized the pivotal moment for the UK’s digital asset industry, expressing optimism about its potential. Coinbase’s recent registration as a Virtual Asset Service Provider (VASP) in the UK marks a significant milestone in its expansion. The UK government is drafting comprehensive crypto rules, including requirements for user and transaction data submission to enhance tax compliance and oversight. These measures aim to foster trust, protect users, and attract crypto businesses seeking regulatory clarity.
about Coinbase CEO Pushes for UK Crypto Regulation OverhaulUK’s Crypto Hub Ambitions: Progress & Challenges
In a recent Yahoo Finance Future Focus episode, Coinbase UK’s Keith Grose discussed the UK’s strides toward becoming a crypto hub, a vision championed by former PM Rishi Sunak. While acknowledging regulatory delays, Grose pointed to the FCA’s draft rules on stablecoins and custody as significant progress, with 2025 expected to be a landmark year for UK crypto policy. He also emphasized the UK’s ‘third-mover advantage,’ learning from US and EU frameworks, and revealed Coinbase’s plans to expand its UK presence with new products and increased visibility.
about UK's Crypto Hub Ambitions: Progress & ChallengesUK Lifts Crypto ETN Ban for Retail Investors
The UK’s Financial Conduct Authority (FCA) is reversing its 2021 ban on cryptocurrency exchange-traded notes (ETNs) for retail investors, citing growing crypto adoption and the need for regulatory clarity. The move aligns with global trends, as the US prepares to vote on the GENIUS Act, which aims to regulate stablecoins. Bitcoin’s recent all-time high of $112K and bullish market sentiment highlight the potential for further growth. The article also recommends three altcoins—Snorter Token, BTC Bull Token, and KoKoK The Roach—as promising investments, while cautioning readers to conduct their own research due to market volatility.
about UK Lifts Crypto ETN Ban for Retail InvestorsUK FCA Proposes Retail Access to Crypto ETNs
The UK’s Financial Conduct Authority (FCA) has announced a proposal to allow retail investors to access crypto exchange-traded notes (ETNs), reversing a 2021 ban. These ETNs, which track digital asset prices but do not hold the underlying assets, must be listed on recognized exchanges like the London Stock Exchange and comply with financial promotion rules. The FCA emphasized that safeguards, including risk disclosures, will remain in place. Unlike the EU and US, the UK is not yet permitting spot crypto ETFs, which require direct asset custody. The proposal aligns with the UK Treasury’s goal to become a digital asset hub and reflects a phased regulatory approach covering stablecoins and market oversight. The consultation is open until July 31, with potential approval expected to reshape retail crypto investment channels.
about UK FCA Proposes Retail Access to Crypto ETNsBCP Launches FCA-Approved Pound Stablecoin tGBP
BCP Technologies, a UK-based crypto firm, has introduced tGBP, a pound-backed stablecoin, after completing a 14-month review in the Financial Conduct Authority’s (FCA) regulatory sandbox. The stablecoin is now live on BCP Markets, the company’s trading platform, and will soon be listed on major exchanges. BCP’s CEO suggests tGBP could serve as a proof-of-concept for upcoming FCA stablecoin regulations, highlighting its compliance-focused approach and potential impact on the UK’s crypto regulatory framework.
about BCP Launches FCA-Approved Pound Stablecoin tGBPHidden Road Launches Crypto Swaps for US Institutions
Hidden Road, a prime brokerage recently acquired by Ripple, has rolled out cash-settled over-the-counter (OTC) crypto swaps for institutional investors in the US. The service, announced on May 28, allows trading across multiple major crypto assets and is offered through Hidden Road Partners, an FCA-regulated entity. This launch represents a significant step in expanding institutional access to crypto derivatives following Ripple’s strategic acquisition.
about Hidden Road Launches Crypto Swaps for US Institutions