On October 4th, CoinDesk reported that crypto payments firm BCB Group was the subject of a now-closed investigation by the UK financial services regulator, citing two people familiar with the matter. The two people familiar with the matter requested anonymity because of the private nature of the matter.
The UK's Financial Conduct Authority (FCA) issued a so-called s166 notice to BCB at the end of last year. The investigation has now ended and according to a source close to BCB, the findings have been positive for the company.
In addition, a third person familiar with the matter added that BCB is in constructive talks with regulators about expanding the scope of its license. BCB CEO Oliver Tonkin commented in an email: BCBGroup has always adhered to a compliance-first approach in its business activities and will continue to do so. We maintain a regular, open and transparent dialogue with all regulators and from our perspective, our relationship with all regulators is in good shape.
Informed person: Crypto payments company BCB Group was the subject of an investigation by the UK Financial Conduct Authority
2024-10-04 09:10:44
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