The UK’s financial authority, the Financial Conduct Authority (FCA), has green-lit Ziglu, a digital currency startup, to operate as a full payment service provider. uk ziglu financial authoritybrownecnbc
This is big news for the cryptocurrency industry because it opens up the possibility for Ziglu to become the first “digital pound” in the UK. The FCA’s decision is also a vote of confidence in Ziglu’s technology and its ability to comply with regulations. uk ziglu financial authoritybrownecnbc
The UK’s financial watchdog is turning its sights on digital currency firms after issuing a warning that such companies are not currently subject to regulation. uk ziglu financial authoritybrownecnbc
The Financial Conduct Authority (FCA) said on Thursday that it was “aware of the potential risks” associated with digital currencies and was “closely monitoring” developments.
The UK’s financial watchdog has given the green light to a new digital currency startup that is aiming to take on the likes of PayPal and Revolut.
Ziglu, which is backed by former Starling Bank CFO Mark Mullen, has been granted an e-money licence by the Financial Conduct Authority (FCA).
This means that Ziglu will be able to offer its customers a range of services including the ability to hold and transfer money in multiple currencies.
