UK's FCA fines Coinbase UK subsidiary £3.5m for accepting high-risk customers without compliance.

The UK's Financial Conduct Authority (FCA) has fined Coinbase's UK subsidiary, CB Payments Limited, £3.5 million ($4.5 million) for failing to comply with regulations regarding high-risk customers. The FCA stated that CB Payments Limited, a gateway for customers to trade cryptoassets within the global Coinbase Group, had accepted 13,416 high-risk customers despite a voluntary agreement preventing it from doing so.

July 25, 2024
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