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 <p>In response to new regulations from the FCA, digital bank Revolut has announced the temporary suspension of specific <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/crypto.html">crypto</a> services for its U.K. <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/business.html">business</a> <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/clients.html">clients</a>, effective Jan. 3.</p>
 <p>The FCA’s new rules, effective since October, necessitate significant adjustments for <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/crypto.html">crypto</a> firms, including the implementation of a 24-hour cooling-off period and clear risk warnings.</p>
 <p>Having registered with the FCA in September last year to provide crypto services, Revolut’s clients will retain the ability to hold and sell existing crypto holdings.</p>
 <div class="cn-block-related-link"><span> You might also like: </span> Revolut pauses crypto launch following FTX collapse
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 <p>This move aligns with a broader trend within the crypto industry, where several firms, including Bybit, PayPal, and Luno, have adjusted their services or withdrawn from the U.K. market to comply with the FCA’s regulatory framework. The measures aim to enhance consumer protection by introducing safeguards such as cooling-off periods and risk warnings.</p>
 <p>Revolut is prioritizing adherence to <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> requirements while allowing continued <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/crypto.html">crypto</a> engagement for its U.K. <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/clients.html">clients</a> within the confines of the updated <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/regulatory.html">regulatory</a> framework.</p>
 <div class="cn-block-related-link"><span> Read more: </span> Regulatory changes prompt Revolut to delist some cryptos in the US
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/revolut-pauses-uk-crypto-trading-for-business-clients-amid-regulatory-changes-tbt74092.html">https://thebittimes.com/revolut-pauses-uk-crypto-trading-for-business-clients-amid-regulatory-changes-tbt74092.html</a></p>

Revolut pauses UK crypto trading for business clients amid regulatory changes

TheBitTimes

Other articles published on Dec 18, 2023

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