The head of the United Kingdom’s Payment Systems Regulator (PSR) reportedly said Wednesday (March 12) that he had been aware since January that the regulator could be abolished, as Prime Minister Keir Starmer said Tuesday (March 11) that it will be. PSR Interim Managing Director David Geale told a...
Turns out the appetite for financial deregulation stretches across the Atlantic. U.K. Prime Minister Keir Starmer on Tuesday (March 11) announced plans to abolish the Payment Systems Regulator (PSR). The PSR is roughly equivalent to the Consumer Financial Protection Bureau (CFPB), and the decision is...
The United Kingdom’s Financial Conduct Authority is urging social media platforms to do more to prevent illegal financial promotions. The agency intervened and forced the withdrawal or amendment of twice as many financial promotions in 2024 as it did the year before, according to a...
Coinbase says it is now the largest registered digital assets company in the U.K. That milestone, announced by the cryptocurrency exchange Monday (Feb. 3), follows Coinbase’s receipt of virtual asset service provider (VASP) registration from the U.K.’s Financial Conduct Authority (FCA). This will allow Coinbase to offer both...
December 10, 2024
A wave of funding rounds over the past several months is giving challenger banks fresh financial firepower to position themselves as alternatives to traditional banks, mainstays of financial services that have been around for decades — even centuries. While these digitally focused challengers promise to bring financial services and products to just about anyone who […]
June 05, 2024
The respective online “walls of shame” that U.S. and U.K. regulators have proposed to erect — spotlighting companies under various investigations — may have a chilling effect on competition and...
February 15, 2023
The U.K. has launched a long-awaited consultation aimed at regulating the BNPL sector. The eight-week consultation, which started Tuesday (Feb. 14) and was announced by the HM Treasury, comes two...
December 30, 2022
In 2023, the U.K. will accelerate its divergence from EU payment and crypto regulations. Meanwhile, the EU is moving ahead with its own policy agenda and in 2023 will continue...
March 14, 2025
The United Kingdom’s Financial Conduct Authority (FCA) is seeking public comment on its proposal to remove the 100-pound (about $129) limit on contactless card payments. The FCA released an engagement paper that outlines several ways the regulator could alter its approach to contactless payment limits Friday (March 14) and will accept comments on the paper […]
March 12, 2025
The head of the United Kingdom’s Payment Systems Regulator (PSR) reportedly said Wednesday (March 12) that he had been aware since January that the regulator could be abolished, as Prime Minister Keir Starmer...
March 11, 2025
Turns out the appetite for financial deregulation stretches across the Atlantic. U.K. Prime Minister Keir Starmer on Tuesday (March 11) announced plans to abolish the Payment Systems Regulator (PSR). The...
February 07, 2025
The United Kingdom’s Financial Conduct Authority is urging social media platforms to do more to prevent illegal financial promotions. The agency intervened and forced the withdrawal or amendment of twice...
