Fintech (financial technology) has created numerous opportunities for disruptive economic entrepreneurship. More companies in Singapore are looking to provide services for buying and selling digital payment tokens (such as cryptocurrency) or a platform for exchanging such digital payment tokens.

As a result, the Monetary Authority of Singapore (MAS) enacted the Payment Services Act (PSA) to accommodate and regulate such payment service transactions, requiring any business that intends to provide digital payment token services first to obtain the necessary licences.

Recently, the Singapore-based arm of the US cryptocurrency exchange [Coinbase received Singapore's MAS "in-principle approval"](https://www.coinbase.com/blog/singapore-ipa-announcement)to provide crypto services in the country.

![Coinbase.PNG](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Coinbase_3caa112189.PNG)

Hassan Ahmed, CEO of Coinbase Singapore and the exchange's regional director for Southeast Asia, told in a statement that Singapore is a critical institutional market for the exchange in Asia because businesses there continue to show interest in crypto and digital advancements. 

According to Ahmed, the city-state also serves as Coinbase's Asia-Pacific tech hub, with an on-the-ground team of engineers in charge of the company's international expansion efforts and platform localisation.

With the new approval to offer Digital Payment Token services, Ahmed said [Coinbase](/news/article/blackrock-crypto) would seek to collaborate with regional platforms and expand its fiat capabilities. Coinbase was already offering services, including its institutional platform, under an exemption granted by MAS.

The exchange claims it has ongoing collaborations with regional Web3 organisations like the Singapore Fintech Association(SFA) and the Association of Crypto-Currency Enterprises and Start-ups (ACCESS).

## Other firms to qualify for in-principle approval

Under a new regime, approximately 180 crypto companies applied for a crypto payments licence with the Monetary Authority of Singapore in 2020. Following extensive due diligence, the country has granted 17 in-principle approvals and licences.

Among those who have received licences are Coinbase, [Crypto.com](/news/article/crypto.com-news-uk-approval), and DBS Vickers, the brokerage run by the country's largest bank DBS (DBSM.SI).
 



Coinbase gets Singapore in-principle approval for DPT license

1inch Network is a DEX aggregator that scours decentralised exchanges for the most profitable liquidity provider platforms. It provides users access to 116 sources on the Ethereum ecosystem, the [Binance Smart Chain](/news/article/bnb-price), and the [Polygon](/news/article/polygon-nft-drops-2022) Network.

The aggregation protocol employs various algorithms to perform its function, providing users with access to liquidity sources worth more than $30 billion.

Sergej Kunz and Anton Bukov, two Russian developers, created 1inch Network. They have expertise in smart contract auditing. Kunz and Bukov, both avid DeFi enthusiasts, began experimenting with arbitrage bots, creating the first medium viable product during the ETHNewYork hackathon in 2019.

Since then, the platform has raised approximately $15 million in funding and is governed by the 1inch Network Foundation, a non-profit organisation that launched the 1inch token in December 2020.

## How does the exchange work?

The 1inch Network protocol splits orders across multiple DEXs to find the best market price. The protocol employs a combination of arbitrage bots and other algorithms to accomplish what would require several pairs of hands working at breakneck speed from humans. Users can swipe tokens on three networks at the lowest prices thanks to 1inch Network.

## What is a 1inch token?

1inch is an ERC-20 token designed to serve as the 1inch ecosystem's governance and utility token. The token is available on various exchanges, including Binance, Coinbase, Uniswap, KuCoin, Gemini, and PancakeSwap.

The following are the primary applications for the 1inch token:

•	Utility: The [token](/news/article/crypto-coin-vs-token) can be used as a connector on the Liquidity Protocol to aid in efficient token swap routing.

•	 Governance: All governance votes on the 1inch Network require the token.

•	 Multi-chain: The token is accessible via a bridge on the Ethereum and BSC networks.

How to trade on 1 inch?

1. Connect your wallet 
Go to [1inch.io](https://1inch.io/) and click the "Connect wallet" button in the top right corner.
Select your wallet in the pop-up window (Metamask), and click the "Connect" button.
Your Ethereum address will be visible at the top of the page once the wallet is connected. You can always copy the address, disconnect the wallet, and check your transaction history by clicking on it.

 2. Basic settings
In the dropdown windows, select the coin you have and want.
You can also choose between 'Maximum return' and 'Lowest gas cost'. If you select the 'Maximum return' option, the algorithm will use complex swap routes to ensure you get the best rates.

You can also select the 'Lowest gas cost' option. In that case, the pathfinder algorithm will determine the most cost-effective option in terms of gas. This option is useful for small trades where you don't want to pay high fees, such as converting 10 USDT to WETH. Small transactions optimise fewer liquidity sources; thus, the option with the lowest gas cost will most likely deliver the lowest price. 

3. Swap the coin
Click on the "swap" button. And you get the coin you want at the lowest price.

## Benefits of using 1inch exchange

The primary benefits of using the [exchange](/news/article/best-exchanges-for-crypto-uk) are as follows: 

1.	User-friendly interface
2.	No additional transaction fees: The exchange does not charge any additional fees.
3.	Low swapping charges: Users can choose between different exchanges and actively select the best prices and gas fees.
4.	The platform is safe and secure for transactions. 
5.	Favourable crypto rates: The Pathfinder feature lets users quickly find the best rates for cryptocurrency exchanges.
6.	Increase liquidity: As a DEX aggregator, the exchange has access to over 50 DEXs with significant liquidity.

## Bottom line

1inch includes a slew of features, including an innovative governance model that aims to change the way decentralised networks are managed. With a market capitalisation of approximately $500 million, 1inch Network's ERC-20 token provides sufficient liquidity and provides traders and liquidity providers with a profitable and cost-efficient service.
 



A comprehensive guide to the 1inch Network

The Reserve Bank of India is about to launch India CBDC, or Central Bank Digital Currency, aimed at specific use cases.

According to the Reserve Bank of India (RBI), "multiple technological options will be tested, and the final architecture will be decided based on the results." The Indian Central Bank recently published a report titled "[Concept Note on Central Bank Digital Currency](https://rbi.org.in/Scripts/PublicationReportDetails.aspx?UrlPage=&ID=1218)."

The RBI clarified that the concept note's goal is to raise awareness about CBDC and the characteristics of the digital rupee. It explains the objectives, options, benefits, and risks of CBDC in India.

It discusses technology and design choices, potential uses of the digital rupee, issuance mechanisms, and the effects of CBDC implementation on the banking system, monetary policy, financial stability, and privacy concerns.

## India CBDC

[CBDC](/news/article/cbdc-uk) will be a payment medium, legal tender, and safe store of value for all citizens, businesses, governments, and others who can convert cash into digital rupees. It aims to speed up transactions while lowering costs.

It will be consistent with RBI monetary policy and appear on the central bank's balance sheet as a liability. It is a fungible legal tender that does not require holders to have a bank account.

Digital currency will be introduced gradually, with appropriate phase-out strategies. This means that the launch will proceed through various stages of pilots, followed by a final launch.

In addition, there will be concurrent use cases that can be implemented with little to no disruption.

## RBI on CBDC

The Reserve Bank of India has also been analysing the idea of "implementing account-based CBDC in the wholesale segment and token-based in the retail segment via a graded approach." 

The RBI has also expressed concern about the recent rise in the popularity of cryptocurrency. It is concerned that the proliferation of crypto assets will pose significant risks in terms of money laundering and terrorism financing.

"The unabated use of crypto assets may pose a threat to monetary policy objectives because it may result in the creation of a parallel economy and will likely undermine monetary policy transmission and domestic currency stability," it said.

The RBI stated that developing the CBDC could provide the public with a risk-free digital currency that will provide them with lawful benefits without the risks associated with dealing in private virtual currencies. 






RBI to launch India CBDC

The comprehensive [measure](https://www.thecoinrepublic.com/2022/10/05/this-economically-full-fledged-country-experimenting-with-blockchain-technology-once-completely-avoided-crypto-2/), which has received its second reading in parliament and is currently under consideration by a committee, broadens the scope of the legislation to include stablecoins, clearing the way for their use as a form of payment in the United Kingdom.

## Is UK crypto tax pragmatic or legal?

Crypto assets, according to HMRC, can be located anywhere the beneficial owner resides, according to the Society of Trust and Estate Practitioners. This view is from a pragmatic conclusion rather than a legal foundation.
 
Difficulties occur when a third entity, such as an exchange or custodian, holds the private key required to access such assets or when numerous persons jointly possess the assets. 

Furthermore, it is uncertain if different coin assets are grouped when declared property. Also, should utility tokens, which give holders access to blockchain-based services, be classified similarly to payment tokens, essentially vehicles of exchange? 

## How is crypto taxed in UK Pensions?

If tokens are considered property, depositing them into a pension plan might result in income tax savings. HMRC currently contends that they cannot use [crypto assets](/news/article/crypto-assets-banking) to make a tax-free contribution to a registered pension scheme because they do not qualify as money or currency. 

Will government officials insist that privately produced coins be subject to distinct regulations? If so, CBDC is considered money and eligible for pension plan [tax relief](/news/article/crypto-tax-japan-reforms).

## UK crypto tax - IME exemption 

According to a recent declaration by the British government, the "Investment Manager Exemption" (IME), which covers a substantial chunk of the fund management business, would now encompass coins.   

Since most global funds do not have a location in the United Kingdom, the IME makes it clear to non-resident funds with a UK- based investment manager that they do not have a taxable presence in the UK. 

[Crypto assets](https://themarketperiodical.com/2022/10/01/selecting-your-crypto-slots-site-top-5-factors-to-consider/) are currently not on the Investment Transactions List (ITL), which also assesses who qualifies for the exemption. 
The primary purpose of HM Treasury's policy is to position the United Kingdom as a leading location for digital asset investments and job opportunities.



UK crypto tax regulations

[Celsius network](https://celsius.network/) was recently accused of withdrawing large sums of money before the bankruptcy filing. There is a development in the Celsius data breach, as the document containing its client information has been publicised. It confirms that the company’s executives cashed out around $17 million just before [filing for bankruptcy](/news/article/celsius-bankruptcy-protection). 

The [document](https://drive.google.com/drive/folders/1M2QNrghkgBg3T2ZkRVVD47QpjgR8r6HB) on the internet contains information about the crypto lender’s clients. There are details about the names, emails, and crypto assets that the clients own. Through this, anyone can verify how many assets their customers have with them.

## Crypto lender withdrew $17m before bankruptcy

The executive body of the [crypto asset](/news/article/celsius-crypto-news) lending company withdrew large sums before filing bankruptcy protection. Among them, former CSO Daniel Leon and former CEO Alex Mashinsky are the top names. They allegedly cashed out BTC, ETH, CEL, and USDC tokens from their accounts. 

This was before the company announced bankruptcy and suspended its customers’ withdrawal. Other than that, the document does not show other notable withdrawals. 

## Customer.io accused of Celsius data breach

Earlier, the crypto lending firm admitted to the [Celsius](/news/article/celsius-network) data breach. The bankrupt firm warned its clients that the breach occurred through a third-party platform. Allegedly, an individual from the email delivery service provider, [Customer.io](https://customer.io/), was responsible for the violation. However, initially, the company downplayed the risks of the breach and later warned its customers through email. 

In [response](https://customer.io/blog/update-to-compromised-email-addresses-incident/) to the incident, the third-party platform blamed an engineer in management who had authorised access. He compromised the client details by providing them to cybercriminals. 

The firm further maintained that it was an individual’s actions and that the firm itself is not responsible. Meanwhile, the same platform was also behind the compromised emails of the NFT marketplace, [OpenSea](https://opensea.io/).



Celsius data breach reveals exec’s withdrawing $17m

The "temporary" suspension is due to "irregular behaviour" and a "possible exploit," according to BNB Chain on [Twitter](https://twitter.com/BNBCHAIN/status/1578148078636650496). The team stated that all systems are now isolated, and they are examining the possible vulnerability promptly. It also asserted that all monies are secure. They had also halted all BNB deposits and withdrawals on the exchange due to "maintenance" on the Chain. 

However, Twitter user and DeFi creator "foobar" had a [different take](https://twitter.com/0xfoobar/status/1578140914283065344) on the matter. He said an attacker took 2 million BNB from "someone" on the network, which is worth around $600 million.

## Evidence of Binance hack

Foobar continued by saying that the attacker is dumping money into liquidity pools and using any bridge to go to safer chains. A snapshot from a block explorer showed the suspect had $532 million in crypto scattered over several EVM-compatible chains and L2s, according to the user. These include $421,000,000 on the BNB (79%) and another $53 million on Ethereum (10%).

The address's total assets are $421 million, matching the foobar snapshot. Which is supported by BNB data, which shows precisely 1,020,094 BNB parked at the same spot, valued at $288 million. 

According to the explorer, the address was previously detected as part of the "BSC bridge attack," as [revealed](https://twitter.com/AnciliaInc/status/1578155138857914368) by the Web 3 cybersecurity organisation Ancilia. Tether, the creator of the world's largest stablecoin, has already [blocked](https://twitter.com/0xfoobar/status/1578144109206073344) the account.

## Can funds be recovered from the Binance hack? 

[BNB](/news/article/bnb-chain-security-system) had recently [verified](https://twitter.com/BNBCHAIN/status/1578163230790520832) that about $70 to $80 million in assets vanished from the platform before being suspended. Another $7 million of the escaped monies became blocked due to "the community" and [Binance's](/news/article/binance-bridge) "internal and external security partners." 

The business also acknowledged several organisations for their assistance, including CertiK, Ankr, and Coinbase Cloud.



$600mil Binance hack leads to BSC pause

The number of crypto trading platforms is ever-growing as the market continues to expand. But, often, it gets confusing to choose which one is right for you, especially if you are a beginner. So, to assist you in that, we are doing a [Coinmama](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article) review, which is an excellent option for crypto newbies. 

Coinmama is a Dublin-based cryptocurrency exchange operating in the industry for almost a decade. It was set up in 2013 to offer financial services in the simplest ways. 

Its mission is to be the world's friendliest exchange that offers the best customer support. 

## Benefits of using the platform

In this [Coinmama review](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article), we look at the platform's best features that make it a good choice for traders. 

1. Single window trading
One of the factors that makes it an ideal choice is that it does not complicate things for the traders. Unlike many other brokerages, it does not allow trades between buyers and sellers, which can confuse a novice trader. So instead, on this platform, all the transactions are between you and the exchange.

The platform has an inventory of all the cryptocurrencies it offers. However, it does not provide a digital asset wallet. So, if you purchase crypto from this exchange, you must have a separate wallet like [MetaMask](/news/article/what-is-metamask).

2. Interactive interface
The [Coinmama app](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article) features an easy-to-use and highly interactive platform, which allows you to manage your crypto trades from your phone. With this seamless app, you can quickly get started with crypto trading. All you need to do is install and sign up with the app, instantly verify your ID, and you will be all set to trade!

Besides, you can access it from almost anywhere worldwide as it is available in 188 countries. However, it only supports Android, so if you are an iOS user, you won't be able to access it. 

[![coinmama 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_1_2222cba695.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)
  
3. Swift verification process
The time-consuming verification procedure is a problem for many exchanges. Fortunately, this is not the case with Coinmama. This platform offers an instant verification process. You can swiftly sign up and start selling or purchasing crypto. The entire procedure takes only 15 to 30 minutes. 

[![coinmama 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_2_55402f2107.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)
  
4. Coinmama payment methods
The Coinmama review also shows that it offers various payment methods. One of the best things about it is that you can make crypto deals from your credit or debit cards. It supports the following payment methods:

·        Apple Pay

·        Google Pay

·        Visa

·        [Mastercard](/news/article/mastercard-crypto-asia)

·        Skrill

·        SEPA and SWIFT Bank transfers

5. Security and authorisation
The exchange is based in Ireland and authorised by the country's regulatory body. It also ensures the complete safety of your crypto funds. It maintains two procedures to ensure security. It does not save user data when transactions are made through credit or debit cards. Secondly, it has a 2FA (two-factor authentication) procedure for logins. This restricts unauthorised entities from accessing your account.

What is noteworthy, it only operates as an exchange. So it does not keep your funds. It only requires your crypto wallet address when you are buying cryptocurrencies. That's why your crypto's security depends on your third-party wallet.

Check out which is the [best wallet to store crypto](/news/article/best-crypto-wallet). 

6. Supported cryptos and fiat currencies
As of now, this cryptocurrency exchange gives you access to over 15 different tokens. These include most of all popular tokens in the market. You will find Bitcoin, Ethereum, wrapped Bitcoin, Bitcoin Cash, Dogecoin, and others. Though it supports limited options, its inventory may expand in the future. And you can also request a particular cryptocurrency from its customer support. 

![coinmama 3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_3_85721f4634.png)
 
On the other hand, the fiat currencies it supports for transactions are five. These include the US dollar (USD), British Pound (GBP), Canadian dollar (CAD), Australian dollar (AUD), and Euro (EUR). You can also find crypto to fiat or fiat to crypto conversions through the [Coinmama crypto calculator](https://www.coinmama.com/crypto-calculator). 

[![coinmama 4.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_4_9b26b70d90.png)](https://www.coinmama.com/crypto-calculator)

## Trading fees

The trading fees of the Coinmama exchange are on the higher side. It charges commissions on each sale and purchase transaction. In comparison to most exchanges, the trading fees are much higher. On selling transactions, the platform's commission will be 0.9%. Meanwhile, you will also have to pay 3.81% if you purchase from the platform.

However, it offers discounts through its [loyalty program](https://support.coinmama.com/hc/en-us/articles/360012588820?_ga=2.27021630.209146710.1664231336-1389372584.1664231336). It has three levels that require different amounts to be spent for 90 days. At the curious level, you would not get any discounts. But at the Enthusiast and Believer levels, you will get a waiver of 12.5% and 25%, respectively.

![coinmama 5.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_5_e905027150.png)

## Coinmama registration: How do I get started?

The Coinmama registration is a reasonably straightforward procedure. You can quickly get a verified account on the platform by following these four easy steps:

1. Firstly, go to [coinmama.com](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article) and set up your account. You can also create an account through the app. It only requires your email, a strong password, and the country of your residence.

[![coinmama 6.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_6_e876cb13de.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)

2. Secondly, you must provide personal details like full name, phone number, date of birth, city name, etc.

[![coinmama 7.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_7_9aba169fce.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)
 
3. Next up, upload a document that confirms your government-issued ID. This can be your ID card, driving licence, residence permit, or passport. US citizens can also use their non-driver's ID. Take the front and back pictures of the card and upload them. 

[![coinmama 8.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_8_814e6b6c25.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)

4. Finally, take a piece of paper and write 'Coinmama' and the registration date. Then, holding the piece of paper and your ID document, take a picture of yourself and upload it. 

Once you've completed these steps, the website will send an application to the exchange team. Your application will be approved after they verify your details.  

[![coinmama9.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama9_b32b539dcf.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)
 
## Coinmama Review: Final take

Coinmama is a basic, user-friendly platform ideal for novice crypto investors. It allows secure and swift crypto trading to help manage day-to-day trades while being a relatively expensive option. You can also find various alternatives that offer more options at low prices.

Though Coinmama does not support a wide range of cryptocurrencies and fiat currencies, it gives most of the popular options. All in all, it is a good option if you are looking to manage small portfolios.



Coinmama Review: The beginner-friendly platform

According to the latest [NEAR protocol](https://near.org/) news, the [NEAR Foundation](https://near.foundation/), the company behind the blockchain and dApp platform, announced a [new partnership](https://near.org/blog/near-teams-with-google-cloud-to-accelerate-web3-startups/) with Google Cloud. Google Cloud will provide technical support to NEAR grant recipients as part of this collaboration.

![near.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/near_38ae2b5e0e.png)

In this new partnership, Google Cloud will provide the infrastructure for the Remote Procedure Call (RPC) node provider to Pagoda, NEAR's Web3 startup platform, allowing developers to deploy code quickly, securely, and seamlessly.

Carlos Arena, director of digital assets at Google Cloud, said in a statement that their company will provide Near developers a "secure, reliable, and sustainable cloud infrastructure on which they can build and scale" and that the company will continue to support "new products and services on blockchain-based platforms."

## NEAR protocol

[Near protocol](/news/article/near-protocol) is a layer 1one blockchain and dApp platform that works on a [proof-of-stake](/news/article/pos-vs-pow) mechanism. It offers developers a platform to create decentralised applications (DApps).

The platform is proud of its approach to blockchain applications, which is user-friendly, and it has grown significantly in the last year.

The protocol is now used in over 800 projects. The NEAR network now has over 20 million accounts, 200 million transactions to date, and 300,000 to 400,000 transactions per day.

## Pagoda

Pagoda is a startup platform, launched in February 2022. It provides Web3 developers on Near with a full-stack toolset for building, launching, and maintaining their Web3 projects or DApps on the blockchain.

The startup platform enables developers to quickly and easily launch DApps on NEAR through a library of pre-audited templates and automatically generated contract user interfaces.

## Google Cloud is getting into the blockchain

In January, Google Cloud established a new digital assets team to support the development and evolution of the blockchain ecosystem. The digital asset team is dedicated to assisting customers in creating, trading, and launching new products on blockchain-based platforms.

The company inked a similar partnership with Binance's smart contract platform [BNB Chain](/news/article/bnb-chain-security-system) in September, allowing startups building products and services on the BNB Chain to also build on Google Cloud's scalable, secure, and open-source infrastructure.

The company has also recently partnered with Fortress Blockchain Technologies, a Web3 infrastructure company, to launch The Fortress Vault, a new NFT database solution built on Google Cloud's infrastructure.
 



NEAR Protocol news: Partnership with Google Cloud

Ripple has partnered with Thallo to create a blockchain-based carbon credit marketplace.

Climate Collective and Thallo have joined forces to create a Web3-based marketplace that will use the [XRP](/news/article/ripple-price-prediction) Ledger to ensure the immutability of information and increase transparency and efficiency.

![ripplr.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ripplr_0b21900a47.png)

## What is a carbon credit? 

The right to discharge one ton of CO2 or an equivalent amount of other greenhouse gases (tCO2e) into the atmosphere is effectively represented by the term "carbon credit."

The primary goal of establishing these credits is to reduce CO2 and other greenhouse gas emissions from industrial sectors to lessen the consequences of global warming.

Companies that release too much CO2 into the atmosphere have long been compelled to purchase these credits from other businesses that produce energy without releasing harmful carbon emissions into the atmosphere.

## Ripple-Thallo partnership

Thallo hopes to democratise the carbon credit market by enabling direct matching between buyers and sellers.
By facilitating the direct matching between high-quality buyers and sellers, it seeks to address issues with conventional markets, particularly liquidity and price data opacity.

Ripples' XRP Ledger is a decentralised public blockchain already carbon-neutral, and the company's focus is to integrate its protocol as a database tool to expand green energy projects.

In alignment with Ripple's commitment to supporting carbon neutrality in the cryptocurrency industry, Thallo is working to contribute to the market to increase liquidity, scalability, and price accessibility. 

Along with [Ripple](/news/article/xrp-court-case-update), [VenTree Innovations](https://ventreeinnovations.com/), InPlanet, BioFix, and TrendCO2e are the other founding partners of the new platform. The Carbon Business Council and Crypto Climate Accord are signed as the project's integrity partners. [Chainlink](/news/article/chainlink-news), Aklimate, and Celo Foundation are three of the 14 innovation partners of the Thallo.

Climate change issues have been a top concern for leading nations. For the first time in 2021, voluntary carbon credit markets had a total market capitalisation of almost $2 billion and are forecast to rise to $150 billion in the following eight years. Many private businesses and organisations, both large and small, have committed to achieving several notably ambitious climate goals. Carbon credits will be in high demand to support these goals.
 

 
 



Ripple’s partnerships to revolutionise carbon markets

The climate crisis is, without a doubt, one of the most significant challenges for humanity. And if we are to tackle it, we need actionable strategies. [Blockchain](/news/article/blockchain-energy-fud) is one solution that can substantially help in combating climate change. Several initiatives have deployed this tech to track institutions' [carbon footprints](/articles/our-news/sustainable-future).

One such initiative is the Cardano Samsung partnership for a massive planting drive. The tech giant [Samsung](https://www.samsung.com/uk/) has launched a new project with Cardano's [Veritree](https://www.veritree.com/) for reforestation, aiming to provide nature-preserving solutions.

Let's learn how this smartphone enterprise is leveraging a crypto-based platform to tackle climate change!

## Cardano Samsung partnership

At the beginning of this year, one of the world's most renowned smartphone manufacturing companies, Samsung, launched a [project](https://news.samsung.com/us/samsung-veritree-plant-millions-trees-fight-climate-change/) to confront climate change. The company joined forces with a plantation management firm, Veritree. The plan of this project is the conservation of forests in Madagascar.

The Veritree platform assists in environmental solutions by leveraging blockchain tech. The Cardano Network powers this platform. That's why Samsung would collaborate with the [ADA token](/news/article/ada-coin-price-prediction) blockchain for its eco-friendly initiative. Together these firms will be working on the reforestation of Madagascar forests with Mangroves.

## Cardano Samsung tree planting drive via Veritree

Veritree is an innovative firm that offers reforestation as a service. Its plantation management system has a verifiable mechanism to bring transparency. The firm aims to plant over 1 billion trees in a decade by assisting different companies in their eco-friendly projects. 

This project is taking place in different regions of the Republic of Madagascar. These regions include Mahabana, Kandrany, and Mariano Mangrove. For this purpose, Mangroves are selected as they can quickly grow in these coastal regions. Veritree set the target of planting 2,000,000 trees in the first quarter of 2022 and has successfully achieved it.

![cardano samsung 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/cardano_samsung_1_18ad489ffc.png)
 
Since a verifiable system is used, anyone can track the stats for this plantation drive. Besides the tree count, it shows the area covered, and the tonnes of CO2 absorbed from the environment due to reforesting. According to their stats, reforestation has covered 200 hectares and reduced approximately 431,225 tonnes of CO2 from the environment.  

## What lies ahead for Cardano and Samsung?

Samsung is a tech giant that primarily deals in smartphones and other electronics. On the other hand, Cardano is a famous blockchain ecosystem that includes various DeFi projects. Both of them are quite distinct from each other. Yet, they share one common goal: to thrive in the crypto space and reduce atmospheric carbon emissions. 

The smartphone behemoth has already announced plans to enter the space. Samsung plans to build a [crypto exchange](/news/article/samsung-south-korea-exchange) in South Korea by 2023. It also aims to develop a unique NFT marketplace which consumers can explore through their smart TV. It will be an in-built feature in the company's smart TVs that will supposedly make trading NFT easier; a few reports suggest that the brand might leverage the ADA's blockchain for its marketplace. 

Cardano's network is one of the most popular blockchains. However, it has not yet reached the level of its competitors because of its low price. That's why its plans also involve experimenting with novel ideas like Veritree. 

The protocol recently went through a [hard fork upgrade](/news/article/cardano-hard-fork) to upscale its performance. The network might also seek expansion in African countries. So, it may create an opportunity for this network to work with the tech giant on other projects. 
Not only that, Cardano is planning numerous on-chain and off-chain developments. This may include increasing block size, updating Plutus, and improving nodes.   

## Samsung and blockchain technology

A smartphone manufacturer's name is not common in the crypto world. However, this company is looking to change this trend. The Cardano-Samsung partnership is not the only instance for blockchain use. 

The [Samsung blockchain](https://www.samsung.com/global/galaxy/apps/samsung-blockchain/) is already live. It includes a Keystore and wallet that you can use to process your daily transactions. A decentralised crypto exchange is also part of the plans to enter the crypto world, which is planned to roll out in 2023. As the company is looking to capitalise on the crypto market, exposure to Cardano via Veritree can be beneficial.  
 



Cardano and Samsung team up to tackle climate change

The Financial Conduct Authority ([FCA](https://www.fca.org.uk/news/press-releases/fca-establishes-temporary-registration-regime-cryptoasset-businesses)), responsible for cryptocurrency regulation in the UK, has closed its TRR program. The TRR, or Temporary Registration Regime, was a scheme that allowed digital asset firms to get an interim UK [crypto license](/news/tag/crypto-legal-news). 

Through it, the firms could start their operations in the country while they wait for complete registration. 

However, now the FCA has ended the temporary licensing program for the companies. This step was taken after the digital banking platform [Revolut](/news/article/revolut-news-approved-eea) acquired FCA registration. The company was the last among five waiting for the regulators' approval. As it secured the authorisation, regulators shut down the program.

## UK crypto license TRR initiative

The British regulators took the initiative of interim authorisation in 2020. At that time, it was for the virtual asset firms already providing their services in the country. More than 100 cryptocurrency-related firms entered this scheme to acquire the regulatory body's approval. However, it only deemed 38 among them to be following the [regulations](/news/tag/regulation).  

The program would have been shut down earlier as the British regulatory body announced March 31 as the deadline for complete approval. However, a few companies, including Revolut, got an extension to secure the approval. 

Five digital asset firms were still working in the country in early April without complete authorisation. Besides Revolut, [CEX.io](https://cex.io/), [GlobalBlock](https://www.globalblock.eu/), [Copper.co](https://copper.co/), and [Moneybrain](https://www.moneybrain.com/) were the remaining companies. All these four companies were denied authorisation or withdrew themselves by the end of June. 

On the other hand, Revolut remained the last company on the list. It secured registration in September, marking the TRR program’s end for a license. 

British regulators are known for their absolute measures for [anti-money laundering regulations](/news/article/crypto-aml). That’s why cryptocurrency firms do not get registered easily in the country. With the closing of TRR licensing, they have ensured that non-registered companies [do not operate](/news/article/ftx-uk-ban) in the country.


UK Crypto License Update

[Kim Kardashian has been fined $1.26 million](https://www.forbes.com/sites/qai/2022/10/03/kim-kardashian-fined-for-cryptocurrency-promotion-heres-what-it-means-for-crypto/?sh=d7cef2e39356) by the US Securities and Exchange Commission (SEC) for not disclosing that she received payment for an ad about crypto token EthereumMax on her social media accounts.

This might indicate that the SEC plans to impose more restrictions on the cryptocurrency industry.
Unexpectedly, Kim Kardashian was penalised by the SEC for allegedly participating in this cryptocurrency "pump and dump" scheme. 

## Kim Kardashian barred from endorsing cryptocurrencies for three years

This became a legal issue because the Kim Kardashian crypto ad was a planned marketing strategy. One more surprising factor is that the lengthy list of influencers endorsing cryptocurrencies has been condensed.

Since it may cause additional problems for other celebrities who have supported cryptocurrency or wish to do so in the future, this story has attracted much media attention.

The $1.26 million amount accounts for the $250,000 she received for the marketing and interest and a $1 million penalty. She also consented to refrain from promoting cryptocurrency assets for three years while helping with the current inquiry. 

The crypto industry is facing a strong bear market. There is a fear that we could see more legal disputes and litigation in the future, ultimately leading to more blood baths in the crypto space.

## A long list of celebrities has faced similar controversies

[Elon Musk has been sued for $258 billion](/news/article/elon-musk-dogecoin) over allegations that he created a pyramid scheme to market Dogecoin. Also, Floyd Mayweather Jr. and DJ Khaled have been charged with promoting initial coin offerings (ICOs) without letting their followers know they had been paid to do so.

## What does this controversy mean for the Bitcoin and crypto industry?

The SEC released a video advising the public to exercise caution when following investment advice from well-known people and social media influencers.

Other celebrities and influencers could also avoid advertising ICOs due to the Kim Kardashian crypto ad controversy, which could somewhat mean lower exposure to new coins.

However, this news doesn't mean anything to Bitcoin prices and other crypto coins. But we could soon see more [regulations from the SEC](/news/article/us-sec-regulation).


Kim Kardashian Crypto Ad Controversy

## How crypto hack succeeded

Funds went missing from Transit Swap after a hacker exploited [an internal bug](https://www.cnbctv18.com/cryptocurrency/hacker-exploits-platform-bug-to-syphon-23m-from-transit-swap-returns-70-of-loot-a-day-later-14856551.htm) on a swap contract on October 1 2022. The cross-chain DEX (decentralized exchange) aggregator prompted a quick response from the Transit Finance team and security firms Peckshield, SlowMist, Bitrace, and TokenPocket. They were able to work out the hacker's IP, email address, and associated-on chain addresses quickly. 

"We sincerely apologise", said Transit Swap on Twitter. The company said that security firms are tracking the necessary data on-chain, and they will alert customers of any additional notifications as they arise.

Less than 24 hours after the theft,[ Transit Finance](https://swap.transit.finance/) reported that "with the combined efforts of all parties," the hacker had returned 70% of the stolen assets to two addresses, totaling around $16.2 million. 

The hacker appears to have had to hand over the crypto after the Transit Finance team and various security firms obtained data about the perpetrator. 

According to [BscScan ](https://bscscan.com/tx/0x181a7882aac0eab1036eedba25bc95a16e10f61b5df2e99d240a16c334b9b189)and [EtherScan,](https://etherscan.io/tx/0x743e4ee2c478300ac768fdba415eb4a23ae66981c076f9bff946c0bf530be0c7) this crypto came in the form of 3,180 Ether (ETH) valued at $4.2 million, 1,500 Binance-Peg ETH valued at $2 million, and 50,000 BNB valued at $14.2 million.

## Plan for the return of the rest of the monies from the crypto hack 

According to the most recent update, "the project team is scrambling to collect the exact information of users whose crypto [got stolen](/news/article/nomad-crypto-hack) and design a specific return strategy". Still, it focuses on recovering the remaining 30% of stolen monies. 

At the moment, security companies and project teams from all sides are still tracking the hacking issue and communicating with the hacker via email and on-chain techniques. It said the group would continue working tirelessly to retrieve more assets.

#Plan for the return of the rest of the monies from the crypto hack hted](https://slowmist.medium.com/cross-chain-dex-aggregator-transit-swap-hacked-analysis-74ba39c22020) that the [hacker](/news/article/nft-hackers-passports) exploited a vulnerability in Transit Swap's smart contract code, which came directly from the transferFrom() function, which essentially allowed users' tokens to be sent directly to the exploiter's address.


Crypto hacker returns 70% of $23 million to Transit Swap

The [Matic token](/coins/matic) has been one of the few cryptocurrencies in recovery since May 2022 in the bearish crypto market. One primary reason behind it is the [Polygon news](/news/article/polygon-crypto-news) confirming the Matic Disney collaboration for the Disney 2022 Accelerator Program. 

Since then, the token has seen some positive price action. It currently trades at $0.742, according to per [CoinMarketCap](https://coinmarketcap.com/currencies/polygon/). Though the token gained momentum after the news, its value is still less than USD. 

Many are curious why Disney prioritised Polygon tokens over other high-performing ones. Let's take a look at the reasons Disney preferred Matic! 

## What is the Accelerator Program?

Walt Disney Co. runs business development and mentorship programs for tech startups. It is aimed at funding and mentoring six innovative firms. The entertainment giant selects the firms based on their potential to thrive in the entertainment industry. The initiative takes place in summer each year. This year, it also started in July and will conclude in October.

Part of the plan for the [Disney Accelerator programme](https://thewaltdisneycompany.com/2022-disney-accelerator-participants-announced/) is to build immersive experiences with Augmented Reality (AR) tech and create AI-based character NFTs. For this reason, Matic's team is also part of this year's mentorship initiative. 

Alongside Matic, Disney will work with five other AR, AI, and web3-based companies. These include; [FlickPlay](https://www.flickplay.co/), [Red 6](https://red6ar.com/), [Obsess](https://www.obsessar.com/), Inworld, and [Lockerverse](https://www.lockerverse.com/). Polygon is the only cryptocurrency firm to be part of this program. 

## Four reasons why Matic and Disney teamed up for Accelerator

Let's examine why Polygon is the ideal selection for the Accelerator!

1. Scalable network for web3 projects 

One primary reason behind the popularity of the [Polygon](/news/article/polygon-crypto) network is its scalability. It is a layer-2 solution for Ethereum which can support scalable web3 projects. Besides being an Ethereum Virtual Machine (EVM), it provides formidable security. 

The network offers an array of Ethereum solutions, which developers can use for varying needs. From PoS to the open-source EVM, all are impressive scalable solutions.

2. A cost-effective option for NFTs and GameFi

The Matic network costs are also on the lower side. It is the prime factor behind the Matic Disney union. As the entertainment platform is seeking its place in the non-fungible token NFT market, it can be pretty helpful. The firm can leverage the Matic blockchain to turn its famous characters into NFTs. And the low transaction fee can be a crucial selling point to entice the audience. 

Similarly, this feature can also be quite helpful in developing blockchain-based games. Polygon ecosystem has a variety of GameFi projects. These include notable games like Voxies, Rebel Bots, Pegaxy, Crypto Raiders, and others.

3. Polygon's alliance with other key players

The Matic Disney collab for the Accelerator program is not the only impactful partnership this protocol has. It enjoys alliances with many other key players in the industry, including one of the most impactful alliances with the social media and Metaverse giant [Meta](/news/tag/meta/2). Mark Zuckerberg's company recently rolled out a cross-posting feature using Polygon. 

Also, one of the largest NFT marketplaces, [OpenSea](/news/tag/opensea), integrates with Matic NFTs. Meanwhile, other noteworthy names include Reddit, Robinhood exchange, and Stripe partner with the Matic network. Which suggests it is a growing blockchain company in the industry.

4. Diverse ecosystem

Another reason Disney selected Matic for its Accelerator program is its complete and diverse network. It can be an ideal platform for various Decentralised Applications (DApps). Its suite has numerous solutions designed for developers' ease of integration. The ecosystem can support NFTs, GameFi, and other DeFi projects that align with the needs of Disney.  

## How beneficial will the Matic Disney union be?

For Matic, the Disney partnership means growth. The short-term gains are already quite evident. Before this announcement, the token was traded at only $0.4 starting in July. 

However, in mid-July, it started gaining positive momentum as the price approached $0.6. The price then appreciated to over $1 in August. And now its price has decreased to $0.75. Nonetheless, this is commendable as the crypto market is going through a severe winter. Moreover, it positions the crypto well for future gains.

The [prospects](/news/article/matic-price-prediction) also look pretty exciting for the blockchain. It may unlock an opportunity of turning Disney World's characters into live NFTs. Moreover, it may lead to creating a Disneyland Metaverse, where the audience can enjoy an AR-based immersive environment. It will likely introduce the Polygon network to a prominent entertainment industry audience. 



Matic Disney Collab: Why Polygon for Accelerator 2022?

The asset management behemoth, [BlackRock Inc](https://www.blackrock.com/corporate), has rolled out a blockchain technology exchange-traded fund ([ETF](/news/article/crypto-etfs)). The firm has extended its services to European consumers, giving traditional markets more exposure to investing in blockchain companies. 

The latest BlackRock ETF has been named [iShares Blockchain Technology UCITS ETF (BLKC)](https://www.ishares.com/ch/institutional/en/products/328618/ishares-blockchain-technology-ucits-etf). The product was introduced on September 27 and consists of 50 holdings. Among them, 35 companies are blockchain-related, while others firms aid the blockchain industry. 

## BlackRock ETF offering EU investors exposure to blockchain

Previously, the Blackrock introduced a similar ETF product in the US. Now, it is seeking expansion in European market. 

The firm's product strategist for thematic and sector ETFs, Omar Moufti, has said that the new offering will allow customers to interact with leading companies in the distributed ledger ecosystem. 

Moufti further pointed out that these technologies will "become increasingly relevant for our clients as use cases develop in scope, scale and complexity."

## Blockchain BlackRock ETF holdings

There are 50 holdings, including around 75% of crypto exchanges and mining firms. On the other hand, firms supporting the blockchains make up the remaining 25%. Moreover, this new BlackRock ETF does not deal in crypto investments directly.

The top five holdings are [Coinbase](/news/article/blackrock-crypto) (13.20%), the fintech firm Block (11.40%), Riot (10.50%), Marathon Digital Holdings (11.13%) and USD cash (13.00%).

Other companies the new BlackRock ETF invests in include twenty-three IT firms, six financial, one communication, and one industrial company. 

## A Metaverse ETF is in the works

Bloomberg recently [reported](https://www.bloomberg.com/news/articles/2022-09-29/blackrock-plans-another-crypto-etf-after-feeble-iblc-debut#xj4y7vzkg) that BlackRock plans to introduce a unique exchange-traded fund related to Metaverse, which may include virtual or social media platforms. Its ticker and fees are yet to be confirmed. 

Earlier in August, the world's largest asset manager made its way into the crypto space by offering its institutional clients [Bitcoin spot](/news/article/blackrock-investing) exposure. Now, it is working on several other products related to digital assets to expand in the market. 



New BlackRock ETF invest in 35 crypto-related companies

Cryptocurrencies have digitised a significant amount of global monetary flow in a matter of years. But unfortunately, this transition has also provided a medium for scammers. Many criminals take advantage of blockchains to launder money. Because of this reason, anti-money laundering (AML) laws have become more relevant today.

Investors are at more risk of fraud from Ponzi scheme-based projects than ever. That’s why introducing such laws in crypto has become crucial to keep investors and the overall industry safe. 

In this article, we will learn about the role of AML in crypto and why it has become necessary for the regulatory authorities.

## Understanding AML in crypto

Money laundering is defined as an illegal act of cleaning money that is obtained through illicit means. Fraudsters conceal their actual source of earnings and change it to a legal one to escape from laws. To impede such crimes, governments have AML laws.
 
AML for crypto is the set of similar regulations that applies to the traditional laundering of money. These help stop the fraudulent conversion of illegally gained digital assets into fiat currencies. 

In many countries where crypto is regulated, AML is supervised by financial crime authorities. For instance, in the United States, [FinCEN](https://www.fincen.gov/) handles AML. Likewise, in the United Kingdom, [FCA](https://www.fca.org.uk/) ensures accountability.

## How does AML work in crypto?

The Financial Action Task Force [(FATF)](https://www.fatf-gafi.org/) is a global organisation. It defines the rules each country has to follow to prevent the misuse of finances. In 2014, the organisation also incorporated virtual assets into its code. Following that, the financial authorities of many countries included it in their regulations. 

Authorities are working with virtual asset service providers (VASPs) to implement these laws. VASPs include cryptocurrency exchanges, NFT marketplaces, token issuers, and some DeFi firms. These are required to register themselves to the regulatory bodies. 

Furthermore, they must follow the know-your-customer (KYC) standard to get user information. This way, regulators can easily track suspicious transactions as they have access to necessary user information. 

## AML and KYC for crypto

The KYC procedure is one of the most critical parts of identifying illegal transfers. The decentralised distributed ledgers maintain transparency and traceability. That’s why they allow irregularities to be easily spotted. Once the authorities know the public wallet address, they can track down the person or entity behind it through blockchains. 

However, digital asset companies have a different KYC standard than traditional firms. Here, face and biometric verification are not required. Instead, you must provide your legal name, authentic address, and ID card. But, these standards differ from one service provider to another. The reason is that not all of them are regulated by one authority.

## AML Consulting services for crypto 

In the digital assets market, anti-money laundering (AML) measures have become so necessary that now there are consultants in this domain. Various firms have emerged that provide P2P services for compliance with laws. These firms operate to ensure compliance with AML and protection against terrorist financing regulations. 

One leading firm among them is the [Digital Officer](https://digiofficer.com/about-us), a team of specialists in the AML domain. The firm can protect you against scams and assist in complying with the set code by the local authorities and FATF. Their services cater for both P2P and B2B, such as VASPs. 

## Why does AML crypto matter?

Cryptocurrencies have reshaped the entire world economy. But, it has also posed several challenges for financial regulators. Since the dawn of blockchain technology, criminals have relied on it for their illegal activities. Financing terrorism, running Ponzi schemes, and other [scams](/news/tag/scam) have become prevalent. Definitive measures became mandatory to stop the crime. And so, AML regulations took shape. 

Now, the financial authorities in many countries have [crypto regulations](/news/article/crypto-regulations) for penalising criminals. By regulating VASPs, they get information about the investors. Then track the suspicious transactions and withdrawals to prevent crimes. 

This has opened up a new area of the market for compliance consulting business. Now many service providers specialise in anti-money laundering laws. They assist clients in complying with local and international laws and protect their funds from scammers. Make sure you're covered with crypto compliance with firms such as Digital Officer.



Crypto AML & its importance in the industry

[Pantera Capital's](https://panteracapital.com/press/) founder and CEO, Dan Morehead, said the hedge fund intended to raise $1.25 billion for a second blockchain fund.

Morehead [said at a Singapore conference](https://www.bloomberg.com/news/articles/2022-09-28/pantera-capital-s-morehead-seeks-1-25-billion-for-blockchain-fund#xj4y7vzkg) on Wednesday that the company's goal is to close the blockchain fund by May. According to reports, the fund will invest in digital tokens and equity to draw institutional investors.

 ![pantera.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/pantera_60f4e2d7bc.png)

Additionally, the CEO mentioned that he wants to purchase more shares of some of the businesses in which Pantera has already invested but whose valuations have declined. This includes companies like [FTX](/news/article/what-is-ftx), Anchorage Digital, Amber Group, Coinbase, and Flashbots.

The fund's goal is to support investors in cryptocurrencies who might be beginning to lose hope due to price declines in 2022, which have been further impacted by the general decline in global financial markets.

The Pantera CEO said, 
"We want to provide liquidity for people that are kind of giving up because we're still very bullish for the next 10 or 20 years."

"Unfortunately, crypto pricing has become correlated with risk assets, which I don't think has to be true. I hope that soon crypto will decouple from the macro markets."

## Pantera Capital investment funds

The investment firm has grown to be one of the most active in the crypto space since its launch in 2013, with currently $4.5 billion in assets under management.

There are currently five funds available: venture, Bitcoin, early-stage token, liquid token, and blockchain funds.

The first blockchain fund launched in 2021 to raise $600 million. The firm announced in January 2022 that it had secured more than $1 billion in commitments. This active investment invests in a mix of venture equity, early-stage tokens, and liquid tokens.

Morehead claims that the firm's second fund will invest in equity and digital tokens. Pantera anticipates that investments will be closed in May 2023.

pantera capital logo blockchain fund on bitcoin

Pantera Capital set to raise $1.25B blockchain fund

Digital bank [Revolut](https://www.revolut.com/), fintech unicorn based in London, has been granted permission to provide cryptocurrency services in the UK after passing the FCA's (Financial Conduct Authority) requirements for anti-money laundering.

The $33 billion valued digital bank Revoult was added to the [crypto asset firm register](https://register.fca.org.uk/s/search?predefined=CA) of the UK financial watchdog on September 26. 

Revolut had been attempting to get listed on the FCA's register since January 2021. The company has been operating as an authorised electronic money institution since May 2018.

The firm had previously offered cryptocurrency buying, selling, and trading to UK customers under the FCA's Temporary Registration Regime (TRR), which was designed to allow businesses to continue operating while their applications were being reviewed.

When the approval deadline passed at the end of March this year, the FCA allowed a limited number of companies to remain on the TRR. Revolut was one of five companies listed on TRR, alongside CEX.I0, Copper Technologies, GlobalBlock, and Moneybrain. None of the other four firms were later approved.

With the addition of the Revolut bank to the UK’s crypto asset firm register, there are now 38 companies authorised to provide custodial and exchange services for crypto assets.

## Other firms to win FCA crypto regulation

The [FCA](/news/article/ftx-uk-ban) was designated as the UK's anti-money laundering and counter-terrorism financing authority at the beginning of 2020. Since then, any firm wishing to engage in crypto activity in the UK has been required to register with the organisation under the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017.

[Gemini](/news/article/gemini-crypto-exchange), [Kraken](/news/article/kraken-ceo), eToro, and Archax are among the other firms that have met the FCA's anti-money laundering and counter-terrorist financing (AML/CFT) standards.

Crypto exchange, crypto.com was the most recent addition, joining the list in August.

Currently, 38 of 248 crypto firms seeking registration have met the FCA's standards and have been granted permission to operate in the UK.





Digital Bank Revolut gets approval to offer crypto services in UK