If you ask Nikhil Rathi, the new chief executive, FCA crypto regulation may become a new item on its agenda. According to him, the UK’s Financial Conduct Authority (FCA), has some severe intentions to strengthen cross-border crypto-asset [regulation](/news/article/crypto-regulations). 

David Hamilton of Pinsent Masons commented on [Rathi’s recent speech](https://www.fca.org.uk/news/speeches/how-uk-will-regulate-future) on how the US and the UK had “agreed to deepen ties”, regarding financial development. He also added that both countries were “exchanging views on crypto-asset regulation and market developments”. 

“Intensive dialogue between our nations is essential to ensure we deliver consistent outcomes,” said Rathi. He added that since the UK had left the European Union, it got the rare opportunity to connect its regulation to today’s market challenges.

Rathi also confirmed FCA primarily invested in data and technology, and kept scanning 100,000 websites for fraud on a daily level.

“The US and UK will deepen ties on crypto-asset regulation and market developments – including relation to stablecoins and the exploration of central bank digital currencies,” Rathi concluded.

## FCA crypto regulation to be more innovative 

Recently, the UK, US and Singapore launched the International Organization of Securities Commissions (IOSCO) governance body on DeFi and crypto market integrity risks. 

Hamilton commented that Rathi’s speech was vital, especially if viewed in the context of the G20 Financial Stability Board’s (FSB) [announcement](https://www.fsb.org/2022/07/fsb-statement-on-international-regulation-and-supervision-of-crypto-asset-activities/) earlier this month on establishing a new regulatory framework for crypto supervision.

Hamilton also added that Rathi’s speech showed just how important it is for companies to have adequate policies and procedures to comply with the Money Laundering Regulations.
Rachael Preston of Pinsent Masons asserted the speech shows FCA’s intention to become an essential player of the regulatory game. 

“Expect to see a more collaborative, innovative and adaptive style of supervision in the future, with the FCA continuing to push the boundaries of the role of a financial regulator in modern society,” Preston said.

She also added that technology solutions will play a substantial leading role in the FCA’s transformation plans, and will be a key factor regarding its effectiveness. 
 
“The question is whether such an approach can deliver the right outcomes to what is an ever more complex, nuanced and user experience-led market,” Preston said.



FCA crypto regulation – new item in the UK-US financial co-lab

In recent years, the online gambling industry has progressed tremendously as it is worth [61.5 billion USD](https://www.statista.com/statistics/270728/market-volume-of-online-gaming-worldwide/) and is expected to grow by 86% in 2028. The primary reason behind its growth is the inclusion of cryptocurrencies in gambling. 

Now, various online casinos deal in fiat currencies and digital tokens. One of the most popular options is mBit Casino which is ideal for [Bitcoin](/coins/btc) players. But, like any other online gambling platform, critics question its legitimacy. Are you wondering whether this casino is white-labelled or not? Read this review to find out the truth! 

## How does gambling work on mBit Casino?

mBit is a Bitcoin wagering platform that is regulated by the Curacao government. You can anonymously register on it and start gambling in Bitcoins. However, if you want to bet with fiat currencies, you would need to provide your personal details. It offers a variety of game categories and payment options. 

Other than Bitcoin, you can gamble with Ethereum, Dogecoin, BitcoinCash, Litecoin, and Tether. It gives you jackpot opportunities like Mega Moolah, or you can try your luck with free spins. 

## Prominent features 

1.	Deposit/no deposit welcome bonuses
You can either deposit an amount initially or start without it. In either case, you will get welcome bonuses. mBit no-deposit welcome bonus will be 50 free spins. Whereas your initial 3 deposits will earn you 250 spins and up to 2.5 BTC.  

2.	Variety of game types
The range of game categories it offers is another distinctive feature. You will get a table, poker, jackpot, slots, and live dealer games. These games are backed by reputable gaming providers. 

3.	Anonymity and security
Crypto gambling will ensure that you remain anonymous. It doesn’t require personal information and keeps you safe from data thefts. Curacao regulates the casino and it has the backing of CoinGaming.io and Direx NV, making it a secure space for gambling.

4.	Withdrawal speed and payment options
Its speedy withdrawals and numerous payment methods are other special features. For transactions, you will have options like bank transfer, Visa, MasterCard, Skrill, Accentpay, and many others.

## Final Verdict: Is mBit Casino legitimate?

In a nutshell, yes, it is a legit, white-label platform for Bitcoin gambling. The Curacao government oversees its regulations which ensures the platform’s safety. Its affiliation with CoinGaming.io and Direx NV further verifies its authenticity. 

Besides that, the range of secure payment options like Visa, MasterCard, Skrill, and others, adds to its credibility. So, good news for Bitcoin gamblers: mBit Casino is legitimate, making it one of the favourites to go!




mBit Casino Review

When you first start investing in crypto, where do you even begin? Crypto cards are the answer to this question. These cards offer a convenient way to invest in top cryptos and get into the space at a low cost.

There are many crypto card services available in the market today, but not all of them are worth your time and money. Before you dive in and purchase any card, make sure that it meets certain criteria that make it stand out from the rest. In this article, we will explore some of the best places to buy cryptocurrency prepaid debit cards in the UK.

### 1. What are crypto cards and how do they work?

Crypto cards are a way to invest in top crypto currencies without spending much money. You can load the card with any amount of cryptocurrency and use it at digital stores around the world. These cards also offer tax-free investment opportunities as well.

This allows you to make purchases with your crypto that have tax-free benefits when you use them on your card. No matter where you go, you can use your crypto for a variety of purposes, from buying goods and services to paying for flights and hotels in other countries.

### 2. The top three crypto cards in the UK

#### 2.1 Crypto IRA

This is a great option for those looking to invest in crypto without having to worry about the volatility of the market. With a Crypto IRA, you can get all of the benefits of investing in cryptos without having to pay any taxes on your profits.
The best part is that you can use your card at any ATM or digital store that accepts Visa. You can also use it to make purchases online and in-app.
This is one of the best ways to get started with cryptos without having to put any money down. All you need is a valid ID and you can start using your card right away.

#### 2.2 Bittylicious

This is another great option for those looking to invest in crypto without having to put any money down. Bittylicious allows you to buy Bitcoin and Ethereum with a credit or debit card. You can also use it to make purchases online and in-app.
The best part about Bittylicious is that there are no fees for buying or selling cryptos. You can also get started with as little as £20.

This is a great option for those who want to get started with cryptos without having to put any money down. All you need is a valid ID and you can start using your card right away.

Bittylicious also has a great referral program where you can earn £20 for every friend that you refer.
If you’re looking to get started with cryptos without having to put any money down, then Bittylicious is the way to go.

#### 2.3 [Cryptopay](https://cryptopay.me/)

This is a great option for those looking to use their crypto for everyday purchases. Cryptopay allows you to use your Bitcoin, Ethereum, Litecoin, and XRP to make purchases at over 33 million merchants worldwide.
You can also use your card to withdraw cash at ATMs or send money to friends and family. The best part is that there are no fees for using your card.

If you’re looking for a great way to use your crypto for everyday purchases, then Cryptopay is the way to go.

### 3. How to choose the right crypto card for you

Not all crypto cards are created equal. If you don't know what you're looking for, it can be difficult to find an option that fits your needs. Before you buy, make sure that the card offers services with which you are comfortable.

For example, some cards offer a completely anonymous experience. Others don’t offer any fee discounts or protections but do provide a customer service line or the customer support team who can help if needed.

If you’re not convinced by this point about where to buy your card and want more information on how each card works and the fees that come with it, then we recommend checking out our comparison of the best crypto cards in the UK.

### 4. The benefits of using a crypto card

The biggest benefit of using a crypto card is that it provides you with an easy and secure way to invest in cryptos. Some cards also offer the option of investing in traditional fiat currencies like Pound Sterling or US Dollars and converting to cryptocurrency at the time of sale.

This means that you can invest in cryptos even if your bank doesn’t support them. This flexibility is one of the main reasons why people choose to use a crypto card to be their primary method of investing in crypto. What other investment strategy lets you buy stocks, bonds, futures, and cryptocurrencies all from one place?

### 5. Things to consider before choosing a crypto card

The most important things to consider before you make a decision about any crypto card is the initial purchase amount, signing up for recurring payments, crypto card conversion rates, and fees, transferring funds to a bank account and the delivery guarantees information that can be found on the official website of each crypto card, so it is important to do your due diligence and make sure that the crypto card you choose meets your requirements.

### 6. How to use your crypto card

First, you’ll need to open an account with the company that issued your card. Then, you’ll need to go through a verification process to ensure identity and safety. Once this is done, it will be easy to start buying crypto with your card.

Cryptocurrency cards are easy to use and can be managed on their website. Once you have purchased your card, you will be able to deposit funds into it using a wire transfer or debit card. You will then be able to buy any type of cryptocurrency available and trade it in for whatever fiat or crypto currency you desire.

Crypto cards are like cryptocurrency ATMs where they are attached directly to the blockchain so that you never have to worry about losing your money or having anything stolen from your wallet.

For more crypto guides go to [Latest Moni](/news).


The Best Crypto Cards in the UK

The United Kingdoms’ giant lender, Barclays, is set to invest a modest sum in a growing cryptocurrency custody firm, Copper. Sky News has [reported](https://news.sky.com/story/barclays-snaps-up-stake-in-2bn-cryptocurrency-firm-copper-12658295) that Copper, a $2bn crypto firm having Hammond Lord as its advisor, has attracted Barclays crypto investment. Barclays confirmed its stake in the recent round of investment for the company. 

The funding has long been under discussion because of the bear market. However, the company has managed to close it in the Series C round. The company’s valuation has reportedly reached $2 billion. Last year, it was a billion short of its expected $3 billion valuation.

The previous round of investment for the firm took place in March 2021. In the Series B round, it raised around $50 million. But Copper did not disclose its valuation after that.  
Barclays crypto funding of ‘millions of dollars’
According to the sources, Barclays crypto investment for this round will be ‘millions of dollars.’ The funding will be concluded in the coming days. However, neither Copper nor Barclays has confirmed the investment. 

Besides, the company has attracted investments from various other lenders. These include prominent names like MMC Ventures, Dawn Capital, and LocalGlobe. 
On the other hand, the crypto news shows the declining market, where several companies like Celsius have declared bankruptcy. Amidst such a climate, securing Barclays crypto funding is a success for the company. 

Previously, the UK’s giant lender refused its services to firms like Coinbase and Binance. But, the bank is one of the oldest to support cryptocurrencies and digital assets in the country. Hence, its stake means more credibility for the firm. 

On the contrary, Copper is facing issues with the United Kingdom’s Financial Conduct Authority. There is a deadlock over the issue of temporary registration required for companies that provide digital asset services. That’s why it is working with Switzerland’s regulations. Find out more about recent development in the digital world at [Latest Moni](/news). 






Barclays snaps up stake in $2bn cryptocurrency firm Copper

The cryptocurrency trading platform FTX, which was co-founded by the billionaire Sam Bankman-Fried, is reportedly in advanced talks to buy the South Korean company Bithumb, according to a person familiar with the subject.

According to the individual, who asked not to be named since they were talking about something sensitive, the companies have been in conversations for several months now. A spokeswoman for Bithumb has stated that they are unable to confirm anything at this time.

The FTX spokeswoman that we reached out to declined to respond. [According to a person who spoke](https://www.bloomberg.com/news/articles/2022-07-22/bankman-fried-s-ftx-said-in-talks-to-buy-south-korea-s-bithumb) on the condition of anonymity to Bloomberg, the two exchanges have been negotiating the arrangement for a number of months now.

As of the time this article was being published, neither Bithumb nor FTX had responded to Forkast's request for comment on the topic. Sam Bankman-Fried, the co-founder and chief executive of FTX, has provided assistance to businesses like BlockFi and Voyager Digital when those companies have experienced a liquidity problem.

Bithumb is one of only five cryptocurrency exchanges in South Korea that have been granted permission to provide cash-to-cryptocurrency conversion services.

In South Korea, Bithumb was responsible for 17.1 percent of the entire cryptocurrency trade volume in 2017, second only to the Upbit exchange in that regard. By providing financial support to struggling businesses or acquiring them outright, Bankman-Fried intends to capitalize on the current downturn in the cryptocurrency industry.

This week, persons with knowledge of the situation stated that FTX and its American company FTX US are in talks to acquire fresh financing. If successful, this would put Bankman-Fried in a position to continue his deal-making frenzy, which has seen him commit almost one billion dollars so far.

According to the data provider CoinGecko, the cryptocurrency trading platform Bithumb, which was established in 2014, presently handles an average daily volume of trades worth approximately $569 million.

It was one of the crypto exchanges in South Korea whose premises were raided this week by local prosecutors as part of an expanding probe into Terraform Labs following the failure of the TerraUSD stablecoin in May. The investigation comes as a result of the collapse of the TerraUSD stablecoin. 

For more developments on the crypto news go to [Latest Moni](/news).


Bankman Fried's FTX is now in discussions to acquire Bithumb

If you have been interested in crypto poker, roulette, slots, or gambling in general, you’ve probably come across many scam sites, one of which is the [FortuneJack scam.](https://www.trustpilot.com/review/fortunejack.com)

Still, we don’t want to allege that anyone was being illicit or fake so let’s try to explain what this ‘crypto casino’ is about. 

According to some (most probably paid) ads, this is one of the oldest crypto casinos on the web that is now facing numerous accusations of scam – especially when big money is involved.

The latest complaint against FortuneJack includes more than 800 Monero (XMR). And not just that, but the whole transaction history of one of the best winning clients was deleted.

According to a user known as PaperWallet, he accumulated a total of $120K on FortuneJack. Still, just a moment before the withdrawal, the whole betting history was deleted by the casino and over half the amount won was deducted.

This, of course, can be added as a ticket to technical support (or lack of) and perhaps the issue can be resolved for that matter. However, the company that calls itself the oldest crypto casino has to take care of its reputation and should not allow such things to happen.

Also, after the complaint, support didn’t answer over 28 hours. 

## Infamous year to start the business

Fortunejack started with its operations in 2014 – the same year hackers stole 740,000 [Bitcoin](/coins/btc) from Mt. Gox customers and 100,000 from the company itself. Not directly related – but shushes the general sentiment.

Also, when looking at the company’s Terms of Service (ToS), it’s viable that the company can, at any moment, change the rules for its customers and they can take effect immediately without previous notice of such actions.

According to the website, the company is encouraging users to regularly check for such updates because it can shrug off any liability for any loss resulting from the changes made.

If we look at regular casinos, which all have similar ToS’s, this could imply that winnings could also be cancelled.

When PaperWallet’s support ticket was finally answered, FortuneJack said its Terms of Service gives them the right to cancel bets when the player places more similar bets as, in such cases, only one of such bets is considered active.

The real question is – why does the company allow that kind of bet to be placed and why does it wait for the outcome before reacting, in this case - nullifying them? More precisely, what would it do if the player had lost?
To us, this seems like a cheating policy involving malicious interpretation of their terms. 

A good reputation is what it’s all about at the end and we believe that Fortunejack forgot that.
The rules should be more apparent and the warnings about this kind of situation should be publicly visible (not only in the fine print).

Finally, bets that are “same” or “similar” should not be approved in the first place, and players should be warned on all of these terms.


Latest Moni

Crypto Business News | Page 7

Read the latest crypto business and market news from around the world.

FCA crypto regulation – new item in the UK-US financial co-lab

mBit Casino Review

The Best Crypto Cards in the UK

Barclays snaps up stake in $2bn cryptocurrency firm Copper

Bankman Fried's FTX is now in discussions to acquire Bithumb

The FortuneJack Scam Explained

Zipmex Gets 3-Month Creditor Protection

Reddit Crypto Exchange Partnership with FTX

Polkadot blockchain and altcoin explained