FCA: First enforcement action against firm enabling cryptoasset trading
25 Jul 2024
United Kingdom
1 min read
FCA has fined CB Payments Limited (CBPL) £3,503,546 for repeatedly breaching a requirement that prevented the firm from offering services to high-risk customers. Today’s action was taken under the Electronic Money Regulations 2011 and is the first time FCA has taken enforcement action using these powers. CBPL agreed to resolve the matter and qualified for a 30% discount on the fine.
