The post UK FCA’s New Crypto Plan: Why 90% of Crypto Firms Failed to Meet Standards appeared first on Coinpedia Fintech News
In response to continued market abuse and a lack of transparency in the UK’s crypto markets, the FCA has issued a discussion paper. The decision is a part of changes in the regulation that FCA is gradually making to create clearer and more coherent rules for firms and consumers thus driving the integrity of markets and protecting investors.
A Step Toward Cleaner and Safer Crypto-Markets
The discussion paper published on December 16, 2024, is aimed at presenting the proposals concerning the methods for admissions and disclosures together with the market abuse regime innovations in the sphere of crypto-assets.
In this respect, the FCA has recently put in place stringent measures to check on and rein in fraudulent behaviours, promote fairness and assist consumers in making appropriate financial decisions. Therefore, the paper’s approach supports enhanced internal control over authorized trading in cryptocurrencies and information sharing to prevent market abuse.
“The proposed rules for admissions and disclosures and market abuse regimes are essential in enhancing the cleanliness of the Crypto Markets and contributing to the best efforts of consumers to make sound financial decisions,”
The FCA concluded.
.article-inside-link {
margin-left: 0 !important;
border: 1px solid #0052CC4D;
border-left: 0;
border-right: 0;
padding: 10px 0;
text-align: left;
}
.entry ul.article-inside-link li {
font-size: 14px;
line-height: 21px;
font-weight: 600;
list-style-type: none;
margin-bottom: 0;
display: inline-block;
}
.entry ul.article-inside-link li:last-child {
display: none;
}
- Also Read :
- Crypto Regulations in the United Kingdom 2024
- ,
For the past few years, the crypto sector has raised different dangers that are still valid up to the present time. However, measures to toughen the rules in this area were made again, the FCA stressed that such assets remain extremely dangerous. “The worst is that you won’t be shielded in case of something going wrong or you would be ready to lose all your funds,” the FCA warned.
The call for feedback comes as the FCA steps up its attempts to rid the sector of rogue operators. In the first quarter of the year, it shared that out of the applications made by the firms, only 10% were approved because of poor AML standards. Besides, more than 450 signs warning against unauthorized crypto promotions were released.
.article-inside-link {
margin-left: 0 !important;
border: 1px solid #0052CC4D;
border-left: 0;
border-right: 0;
padding: 10px 0;
text-align: left;
}
.entry ul.article-inside-link li {
font-size: 14px;
line-height: 21px;
font-weight: 600;
list-style-type: none;
margin-bottom: 0;
display: inline-block;
}
.entry ul.article-inside-link li:last-child {
display: none;
}
- Also Read :
- Breaking News: India’s Parliament Discusses Comprehensive Crypto Framework
- ,
Creating a Secure Crypto Future
This preemptive action now leans to the UK’s effort in the development of a responsible environment for cryptocurrencies and crypto-assets within the country alongside the protection of investors. The FCA endeavours to weave the matrix between innovation, which plays a crucial role in enabling the growth of a Crypto asset, and security in defaulting structure; in the process laying a frame for enabling a cleaner Crypto ecosystem.
.article_register_shortcode {
padding: 18px 24px;
border-radius: 8px;
display: flex;
align-items: center;
margin: 6px 0 22px;
border: 1px solid #0052CC4D;
background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%);
}
.article_register_shortcode .media-body h5 {
color: #000000;
font-weight: 600;
font-size: 20px;
line-height: 22px;
}
.article_register_shortcode .media-body h5 span {
color: #0052CC;
}
.article_register_shortcode .media-body p {
font-weight: 400;
font-size: 14px;
line-height: 22px;
color: #171717B2;
margin-top: 4px;
}
.article_register_shortcode .media-body{
padding-right: 14px;
}
.article_register_shortcode .media-button a {
float: right;
}
.article_register_shortcode .primary-button img{
vertical-align: middle;
}
@media (min-width: 581px) and (max-width: 991px) {
.article_register_shortcode .media-body p {
margin-bottom: 0;
}
}
@media (max-width: 580px) {
.article_register_shortcode {
display: block;
padding: 20px;
}
.article_register_shortcode img {
max-width: 50px;
}
.article_register_shortcode .media-body h5 {
font-size: 16px;
}
.article_register_shortcode .media-body {
margin-left: 0px;
}
.article_register_shortcode .media-body p {
font-size: 13px;
line-height: 20px;
margin-top: 6px;
margin-bottom: 14px;
}
.article_register_shortcode .media-button a {
float: unset;
}
.article_register_shortcode .secondary-button {
margin-bottom: 0;
}
}
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
.subscription-options li {
display: none;
}
.research-report-subscribe{
background-color: #0052CC;
padding: 12px 20px;
border-radius: 8px;
color: #fff;
font-weight: 500;
font-size: 14px;
width: 96%;
}
.research-report-subscribe img{
vertical-align: sub;
margin-right: 2px;
}
var templateIds = “6”;
var listOfSubscribed = [];
function subscribed_popupmodal(template_id) {
var subcribemodal = document.getElementById(‘subscribe-modal-design’);
if (subcribemodal) {
var modalContent = `
Never Miss a Beat in the Crypto World!
Stay informed and gain the edge you need to navigate the crypto world. Select your subscription now
`;
subcribemodal.innerHTML = modalContent;
}
subscribe_unsubscribe_status(template_id);
//getAllSubscriberCategoryList(template_id);
}
function toggleSubscription(subscription, template_id) {
var subscriptionCheckbox = document.getElementById(subscription + ‘_’ + template_id);
var li = document.getElementById(subscription + ‘Selected_’ + template_id);
if (subscriptionCheckbox.checked) {
li.classList.add(‘active’);
} else {
li.classList.remove(‘active’);
}
}
function getAllSubscriberCategoryList(getcategoryId) {
jQuery.ajax({
url: ‘https://coinpedia.org/wp-admin/admin-ajax.php’,
type: ‘GET’,
data: {
action: ‘subscribe_api_ajax_request’,
apiurl: ‘/app/email_newsletter/list’,
},
success: function(response) {
var result = JSON.parse(response.message);
if (result.status === true) {
var idstosubscribed = []
// Populate listOfSubscribed with subscribed category IDs
result.message.forEach(listofcategory => {
if (listofcategory.subscribe_status === 1) {
if (!listOfSubscribed.includes(listofcategory._id)) {
listOfSubscribed.push(listofcategory._id);
}
if (!idstosubscribed.includes(listofcategory.news_cp_category_row_id)) {
idstosubscribed.push(listofcategory.news_cp_category_row_id);
}
}
});
idstosubscribed.forEach(id => {
var subscribeButton = document.getElementById(‘subscribe_’ + id);
var unsubscribeButton = document.getElementById(‘unsubscribe_’ + id);
if (subscribeButton && unsubscribeButton) {
subscribeButton.style.display = ‘none’;
unsubscribeButton.style.display = ‘block’;
var showDownloadReport = document.getElementById(‘download_report’);
if (showDownloadReport) {
showDownloadReport.style.display = ‘block’;
}
}
});
}
},
error: function(xhr, status, error) {
console.error(‘Error:’, error);
}
});
}
function subscribe_unsubscribe_status(getcategoryId) {
var elementTounsubscribe = document.getElementById(‘unsubscribe_’ + getcategoryId);
var elementTosubscribe = document.getElementById(‘subscribe_’ + getcategoryId);
jQuery.ajax({
url: ‘https://coinpedia.org/wp-admin/admin-ajax.php’,
type: ‘POST’,
data: {
action: ‘subscribe_api_ajax_request’,
apiurl: ‘/app/email_newsletter/list?category_row_id=’ + getcategoryId,
},
success: function(response) {
var result = JSON.parse(response.message);
if (result.status === true) {
jQuery(‘.skeliton-loader-block’).hide();
var hasSubscribeStatusOne = false;
result.message.forEach(subscribeStatus => {
if (listOfSubscribed.includes(subscribeStatus._id) && subscribeStatus.subscribe_status === 1) {
hasSubscribeStatusOne = true;
}
if (subscribeStatus.notification_type === 3) {
document.getElementById(‘monthlySelected_’ + getcategoryId).style.display = ‘block’;
document.getElementById(‘monthly_’ + getcategoryId).setAttribute(‘data-id’, subscribeStatus._id);
if (subscribeStatus.subscribe_status === 1) {
document.getElementById(‘monthly_’ + getcategoryId).checked = true;
}
} else if (subscribeStatus.notification_type === 2) {
document.getElementById(‘weeklySelected_’ + getcategoryId).style.display = ‘block’;
document.getElementById(‘weekly_’ + getcategoryId).setAttribute(‘data-id’, subscribeStatus._id);
if (subscribeStatus.subscribe_status === 1) {
document.getElementById(‘weekly_’ + getcategoryId).checked = true;
}
} else if (subscribeStatus.notification_type === 1) {
document.getElementById(‘dailySelected_’ + getcategoryId).style.display = ‘block’;
document.getElementById(‘daily_’ + getcategoryId).setAttribute(‘data-id’, subscribeStatus._id);
if (subscribeStatus.subscribe_status === 1) {
document.getElementById(‘daily_’ + getcategoryId).checked = true;
}
}
if (subscribeStatus.subscribe_status === 1) {
listOfSubscribed.push(subscribeStatus._id);
}
});
if (hasSubscribeStatusOne) {
elementTosubscribe.style.display = ‘none’;
elementTounsubscribe.style.display = ‘block’;
} else {
elementTosubscribe.style.display = ‘block’;
elementTounsubscribe.style.display = ‘none’;
}
}
},
error: function(xhr, status, error) {
console.error(‘Error:’, error);
}
});
}
function logSelectedSubscriptions(categoryid) {
var unsubscribemodal = document.querySelector(‘.unsubscribed-popup-modal .modal’);
var subscribedmodal = document.querySelector(‘.subscribed-popup-modal .modal’);
unsubscribemodal.innerHTML=”;
subscribedmodal.innerHTML=”;
var selectedSubscriptions = [];
var storeCheckedId = [];
var checkboxes = document.querySelectorAll(‘#subscription-options-‘ + categoryid + ‘ input[type=”checkbox”]’);
var errorMessage = document.getElementById(‘error-message-select’);
// Use a Set to handle unique data-ids
var uniqueSubscribedIds = new Set(listOfSubscribed);
checkboxes.forEach(function(checkbox) {
var dataId = parseInt(checkbox.getAttribute(‘data-id’));
if (checkbox.checked) {
selectedSubscriptions.push(checkbox.id);
storeCheckedId.push(dataId);
} else {
uniqueSubscribedIds.delete(dataId); // Remove unchecked data-id
}
});
// Update listOfSubscribed with unique values
listOfSubscribed = Array.from(uniqueSubscribedIds);
var selectedSubscriptionsString = selectedSubscriptions.join(‘, ‘);
var concatinateSubscribeId = […new Set(storeCheckedId.concat(listOfSubscribed))];
var categoryData = {
‘subscribed_categories’: concatinateSubscribeId
};
var requestSubscriberData = {
action: ‘handle_dynamic_api_request_with_headers’,
security: ‘b2724a4c7f’,
endpoint: ‘/app/email_newsletter/update_categories’,
token: ”,
data: categoryData
};
jQuery.ajax({
url: ‘https://coinpedia.org/wp-admin/admin-ajax.php’,
type: ‘POST’,
data: requestSubscriberData,
beforeSend: function(xhr) {
xhr.setRequestHeader(‘X-Requested-With’, ‘XMLHttpRequest’);
},
success: function(response) {
try {
response = response.data;
if (storeCheckedId.length === 0) {
var unsubcribedPopUpmodal =
`

You’ve Unsubscribed Successfully
We’re sorry to see you go! Your subscription has been canceled. If you change your mind, you can re-subscribe anytime. Thank you for being part of our community!
`;
unsubscribemodal.innerHTML = unsubcribedPopUpmodal;
document.querySelector(‘#subscribe-modal-design .modal’).style.display = ‘none’;
unsubscribemodal.style.display = ‘block’;
unsubscribemodal.classList.remove(‘hide’);
unsubscribemodal.classList.add(‘show’);
document.getElementById(‘subscribe_’ + categoryid).style.display = ‘block’;
document.getElementById(‘unsubscribe_’ + categoryid).style.display = ‘none’;
var showDownloadReport = document.getElementById(‘download_report’);
if (showDownloadReport) {
showDownloadReport.style.display = ‘none’;
}
} else {
var subscribedPopupModal =
`

Thank you for subscribing!
Thank you for subscribing to our crypto and blockchain newsletter! You’ll now receive the latest news, insights, and updates straight to your inbox. Welcome to our community!
`;
let selectedSubscriptionsArray = selectedSubscriptionsString.split(‘,’);
let subscribedCategories = selectedSubscriptionsArray.map(subscription => subscription.split(‘_’)[0]);
let subscribedCategoriesString = subscribedCategories.join(‘, ‘);
subscribedmodal.innerHTML = subscribedPopupModal;
if (document.getElementById(‘selectidname’)) {
document.getElementById(‘selectidname’).textContent = subscribedCategoriesString;
}
document.querySelector(‘#subscribe-modal-design .modal’).style.display = ‘none’;
subscribedmodal.style.display = ‘block’;
subscribedmodal.classList.remove(‘hide’);
subscribedmodal.classList.add(‘show’);
document.getElementById(‘subscribe_’ + categoryid).style.display = ‘none’;
document.getElementById(‘unsubscribe_’ + categoryid).style.display = ‘block’;
var showDownloadReport = document.getElementById(‘download_report’);
if (showDownloadReport) {
showDownloadReport.style.display = ‘block’;
}
}
} catch (e) {
console.error(‘Error parsing response:’, e);
}
},
});
}
function closeModal(template_id) {
var modalId = template_id;
var modal = document.querySelector(‘#’ + modalId); // Using querySelector to find the modal
if (modal) {
modal.classList.add(‘hide’);
modal.classList.remove(‘show’);
setTimeout(function() {
modal.style.display = ‘none’;
}, 500);
} else {
console.warn(‘Modal not found:’, modalId);
}
}
function closeunsubscribemodal() {
var unsubscribemodal = document.querySelector(‘.unsubscribed-popup-modal .modal’);
if (unsubscribemodal) {
unsubscribemodal.classList.add(‘hide’);
unsubscribemodal.classList.remove(‘show’);
}
setTimeout(function() {
unsubscribemodal.style.display = ‘none’;
}, 500);
}
function closesubscribemodal() {
var subscribedmodal = document.querySelector(‘.subscribed-popup-modal .modal’);
setTimeout(function() {
subscribedmodal.style.display = ‘none’;
}, 500);
if (subscribedmodal) {
subscribedmodal.classList.add(‘hide’);
subscribedmodal.classList.remove(‘show’);
}
}
function withoutLoginClicked(withoutlogin_id) {
localStorage.setItem(‘subscribe_without_Login’, ‘true’);
localStorage.setItem(‘subscribe_clicked_id’, withoutlogin_id);
}
document.addEventListener(‘DOMContentLoaded’, function() {
var templateId = ‘6’;
getAllSubscriberCategoryList([templateId]);
jQuery.ajax({
url: ‘https://coinpedia.org/wp-admin/admin-ajax.php’,
type: ‘GET’,
data: {
action: ‘subscribe_api_ajax_request’,
apiurl: ‘/app/email_newsletter/list’,
},
success: function(response) {
var resultonload = JSON.parse(response.message);
var storeallcategory = resultonload.message;
if (Array.isArray(storeallcategory)) {
// Collect all `news_cp_category_row_id` values and remove duplicates
var allCategoryIds = storeallcategory.map(function(item) {
return String(item.news_cp_category_row_id); // Convert IDs to strings
});
var uniqueCategoryIds = Array.from(new Set(allCategoryIds)); // Get unique IDs
// Convert templateId to a string for comparison
var templateIdStr = String(templateId);
// Check if the templateId is NOT found in the unique category IDs
if (!uniqueCategoryIds.includes(templateIdStr)) {
var idNotMatchTounsubscribe = document.getElementById(‘unsubscribe_’ + templateIdStr);
var idNotMatchTosubscribe = document.getElementById(‘subscribe_’ + templateIdStr);
// Check if elements exist before applying display changes
if (idNotMatchTounsubscribe) {
idNotMatchTounsubscribe.style.display = “none”;
}
if (idNotMatchTosubscribe) {
idNotMatchTosubscribe.style.display = “none”;
}
}
} else {
console.log(“storeallcategory is not an array.”);
}
},
error: function(xhr, status, error) {
console.error(“AJAX request failed:”, status, error);
}
});
const subscribewithoutData = localStorage.getItem(‘subscribe_without_Login’);
const subscribe_clicked_cat_id = localStorage.getItem(‘subscribe_clicked_id’);
// Function to get cookies
function getCookie(name) {
let value = “; ” + document.cookie;
let parts = value.split(“; ” + name + “=”);
if (parts.length == 2) return parts.pop().split(“;”).shift();
}
// Get user token from cookies
const userToken = getCookie(‘user_token’);
if (subscribewithoutData === ‘true’ && userToken) {
// Call the modal function with the category ID
subscribed_popupmodal(subscribe_clicked_cat_id);
// Remove the flag and category ID from localStorage
localStorage.removeItem(‘subscribe_without_Login’);
localStorage.removeItem(‘subscribe_clicked_id’);
}
});
/************************** update susbcriber content **************************** */
function initializeSubscriptionButton() {
var initialListItems = document.querySelectorAll(‘.subscription-options input[type=”checkbox”]’);
initialListItems.forEach(function(item) {
console.log(item.checked, ‘Initial Checkbox checked status’);
});
var listItems = document.querySelectorAll(‘.subscription-options li’);
if (listItems.length === 0) return;
var anyActive = false;
listItems.forEach(function(item) {
var checkbox = item.querySelector(‘input[type=”checkbox”]’);
if (checkbox) {
if (checkbox.checked) {
item.classList.add(‘active’);
anyActive = true; // Set anyActive to true
} else {
item.classList.remove(‘active’); // Remove ‘active’ class if checkbox is unchecked
}
}
});
}
function updateButtonText(anyActive) {
var subscribeButtonSpan = document.querySelector(‘.subscribe-submit .changeBtnText’);
if (subscribeButtonSpan) {
if (anyActive) {
subscribeButtonSpan.textContent=”Subscribe Now”;
} else {
subscribeButtonSpan.textContent=”Unsubscribe”;
}
}
}
function updateSubscriptionButton() {
var listItems = document.querySelectorAll(‘.subscription-options li’);
if (listItems.length === 0) return;
var anyActive = false;
listItems.forEach(function(item) {
var checkbox = item.querySelector(‘input[type=”checkbox”]’);
if (checkbox) {
if (checkbox.checked) {
item.classList.add(‘active’);
anyActive = true; // Set anyActive to true
} else {
item.classList.remove(‘active’); // Remove ‘active’ class if checkbox is unchecked
}
}
});
// Update the button text based on whether any list item has the ‘active’ class
updateButtonText(anyActive);
}
document.addEventListener(‘click’, function(event) {
var clickedItem = event.target.closest(‘.subscription-options li’);
if (clickedItem) {
var checkbox = clickedItem.querySelector(‘input[type=”checkbox”]’);
if (checkbox) {
checkbox.checked = !checkbox.checked;
updateSubscriptionButton();
}
}
});
Kaynak : CoinPedia