EU regulators’ problems with CySEC and its investment firms
The UK Financial Conduct Authority (FCA) suspended the EU license passporting rules and banned several CySEC-regulated Ínvestment Firms (CIF). Among them Magnum FX, Rodeler, Hoch Capital, and F1Markets. Roy Almagor's two firms - Maxigrid and Maxiflex voluntarily withdrew before the FCA blocked them. The Italian Consob has already blocked some CySEC CIFs from the Italian market before the FCA. Now a problem is also looming from Spain's CNMV as per a CySEC circular. Truth is, that CySEC and its CIFs have long been an issue for EU regulators.
Seriously? UK FinTech Unicorn Monzo on the course to collapse!
Some FinTech could face collapse, analysts argue. According to GlobalData analyst Katherine Long, UK FinTech unicorn Monzo could be the second major collapse in the FinTech universe after the collapse of Australia's Xinja. Monzo is becoming an “increasingly expensive charitable cause for the UK market” and could be the first big UK challenger bank to collapse unless it changes its approach towards a more sustainable future.
BlackRock – The world’s largest asset manager joins the Crypto Universe
The bull run of cryptocurrencies has stopped for the time being. After Bitcoin (BTC) and Ethereum (ETH) reached new all-time highs of more than $41,000 and $1,400 within a few weeks, prices have been correcting for two weeks. One thing is certain, however. The entry of institutional investors into crypto has been broad-based - from PayPal to the world's largest asset manager BlackRock; the FIAT elite has definitely made first foodprints the crypto universe. This promises a durable crypto-asset future.