News Formal

What Coinbase’s $4.5M fine by U.K FCA means for the crypto industry

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 68%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Coinbase fined $4.5M by the U.K's FCA over high-risk customer. Reportedly, Coinbase's CBPL onboarded 13416 high risk customers.

Over the past months, crypto exchange platforms have faced legal battles resulting in huge fines. The latest firm to face the long arm of the law isU.K.’s Financial Conduct Authority announced a fine against a subsidiary of the cryptocurrency exchange Coinbase, CB Payments Limited .

The report explained that cryptocurrencies are associated with money laundering risks and that all firms should take it seriously. Allegedly, per

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coinbase and market sentiment – Here’s what can save LINK’s price!LINK registered a sustained consolidation phase. The altcoin wasn't immune to bouts of depreciation though, with the crypto down by 3%...
Source: CryptoAmb - 🏆 22. / 68 Read more »