Crypto World
SKY7 and Fintech Amigo Combine Expertise to Launch IBAN Cloud
The two companies bring together legal, regulatory, and fintech expertise to simplify the way businesses build banking and payment infrastructure.
SKY7 and Fintech Amigo are strengthening their strategic collaboration through IBAN Cloud, a joint project designed to help businesses and individuals find banking and payment solutions that match their actual needs and business models.
Although both companies operate within the fintech industry and often work with similar types of clients, their areas of expertise are distinct and highly complementary.
SKY7 specializes in the legal, regulatory, and corporate aspects of financial businesses. The company assists clients with obtaining financial and crypto licenses, establishing companies across different jurisdictions, developing AML and compliance frameworks, opening banking and payment accounts, and supporting transactions involving the acquisition of existing licensed financial institutions.
Fintech Amigo focuses on the technology and infrastructure behind fintech businesses. The company designs technical architectures for financial products, helps select and implement core banking systems, and integrates external providers ranging from Banking-as-a-Service, Cards-as-a-Service, and KYC/KYB solutions to liquidity providers, custody infrastructure, Wallet-as-a-Service, and blockchain analytics.
The collaboration is built around a simple principle: launching and scaling a financial product cannot be efficiently divided into isolated legal, banking, and technology tasks. For an entrepreneur, it is one project in which corporate structure, licensing, compliance, technology, banking relationships, and payment infrastructure must operate as a single ecosystem.
The practical result of combining these two areas of expertise is IBAN Cloud.
The project was created in response to a challenge regularly faced by fintechs, EMIs, PSPs, crypto companies, and international businesses: finding the right banking infrastructure is becoming increasingly complex.
One company may require an operating account, while another needs safeguarding or settlement accounts. An international business may need multi-currency accounts, SEPA and SWIFT connectivity, FX, acquiring, or mass payouts. A CEX, OTC desk, or prime broker may require fiat banking and settlement infrastructure specifically compatible with its crypto-related business model.
Instead of starting with the question, “Which bank should we open an account with?”, IBAN Cloud starts by determining what financial infrastructure the business actually needs.
Based on the client’s business model, geography, currencies, expected volumes, account purpose, and flow of funds, the required banking and payment structure can be mapped out. Potentially suitable banks, EMIs, and other financial partners can then be identified, while clients receive support with application preparation, introductions, and the onboarding process.
Importantly, IBAN Cloud is not a bank, does not hold client funds, and does not make account-opening decisions. The final decision always remains with the relevant bank or payment institution.
This approach is particularly relevant for regulated fintech and crypto businesses, where financial institutions assess not only the company and its license but also its ownership structure, AML framework, client geography, source of funds, and overall flow of funds.
IBAN Cloud also supports traditional international businesses and individuals seeking international accounts, multi-currency solutions, FX, corporate cards, or more efficient cross-border payment infrastructure.
The collaboration between SKY7 and Fintech Amigo reflects a broader trend across the fintech industry: as regulation, technology, and banking infrastructure become increasingly complex, specialized areas of expertise need to work together.
At the core of the partnership is a shared principle: financial infrastructure should be built around the client’s business model — not the business model around a randomly available provider.
IBAN Cloud
If your company is looking for a banking or payment account, access to new currencies, SEPA or SWIFT connectivity, acquiring, settlement solutions, or a more comprehensive banking and payment infrastructure, you can submit your requirements through IBAN Cloud and start exploring suitable solutions.
The post SKY7 and Fintech Amigo Combine Expertise to Launch IBAN Cloud appeared first on BeInCrypto.
Crypto World
Robinhood Chain Tops Ethereum In Daily App Revenue

Robinhood Chain generated more revenue for the applications running on it than Ethereum did over the past 24 hours, two months after the network went live. The chain Robinhood built to trade tokenized stocks now earns most of its application revenue from memecoin speculation. The ranking also rests… Read the full story at The Defiant
Crypto World
Law firm documents appear on dark web as cyberattacks rise
A limited number of Greenberg Traurig documents have appeared on the dark web after an unauthorized actor accessed them, the international law firm has said.
Summary
- Greenberg Traurig said an unauthorized actor accessed and posted a limited number of documents.
- BakerHostetler handled nearly 60 cyber incidents involving law firms in 2025, according to Reuters.
- Other firms have reported breaches involving client identity and health information.
- Crypto wallet providers have also reported customer-data leaks and phishing attacks through outside service providers.
Reuters reported on Sep. 10 that Greenberg Traurig had confirmed the unauthorized access and dark web posting. The firm described the number of documents as limited. The supplied account does not identify what the documents contained or say how many people, if any, were affected.
The disclosure comes after other law firms reported unauthorized access to systems holding personal information. The incidents did not all involve the same type of data or method of attack, but several exposed records that firms kept for clients and others who dealt with them.
Law firm breach reports include identity and health records
In March, Taft Stettinius & Hollister detected unusual activity on one of its systems, according to Reuters. The incident exposed the client’s Social Security numbers. Reuters also reported that London-based Herbert Smith Freehills Kramer disclosed unauthorized access in May involving Social Security numbers, government identification numbers, and health records.
A separate alleged breach at WilmerHale in May led to a proposed class action in July. The lawsuit concerns the alleged exposure of information held by the firm; the filing of a proposed class action does not establish the allegations as fact.
Goodwin Procter disclosed another incident on Aug. 7. Later that month, Quinn Emanuel said a social-engineering attack had compromised one account and exposed files stored in it. In a social-engineering attack, the attacker uses deception to gain information or access, rather than necessarily breaking into a system through a software flaw.
The affected records also differ from case to case. Greenberg Traurig has described documents posted on the dark web, while the reports about Taft and Herbert Smith Freehills Kramer identify particular categories of personal data. Quinn Emanuel’s disclosure concerns files accessible through a compromised account. The available details do not establish that the Greenberg Traurig documents contained the same kinds of information reported in the other incidents.
Cyber incident data shows the scale of the problem
Reuters said BakerHostetler handled nearly 60 cybersecurity incidents involving law firms in 2025, almost twice the number it handled in 2024. The figure describes matters handled by BakerHostetler, not a count of every breach at a law firm during either year.
In its 2026 incident-response report, BakerHostetler analyzed more than 1,250 data security incidents across industries in 2025. Phishing was the leading identified cause, accounting for 30% of incidents. The firm said outside vendors were the cause in 25% of the matters it analyzed.
The report also tracked what happened after incidents were disclosed. BakerHostetler said class actions were filed in 14% of incidents in 2025, up from 9% in 2024. Among the incidents in its dataset that were disclosed, lawsuits followed 68 of 482 in 2025, compared with 51 of 518 in the previous year.
BakerHostetler’s figures cover clients across several industries, so they should not be read as rates specific to law firms. Its report placed business and professional services behind health care and finance and insurance among the sectors represented in the incidents it handled.
Crypto customer data has also been exposed through service providers
For U.S. crypto customers, a separate set of disclosures shows how personal details can be exposed even when a company says its users’ funds or wallet credentials were not accessed.
In May 2025, U.S. exchange Coinbase disclosed that criminals had bribed overseas support agents to obtain customer information. The breach affected 69,461 users and included names, addresses, phone numbers, and images of government IDs. Coinbase said passwords, private keys, and customer funds were not compromised. The exchange rejected a $20 million ransom demand and offered a reward of the same amount for information leading to the attackers’ arrest and conviction.
Hardware wallet companies have reported incidents involving firms that process orders or send customer messages. In January, Ledger said unauthorized access to e-commerce partner Global-e had exposed order information belonging to some people who bought products through Ledger.com. A Ledger spokesperson told Decrypt that the accessed information was held in Global-e’s systems and included data related to purchases for which Global-e acted as the merchant of record.
In August, SafePal said a flaw in an order-tracking plug-in exposed information belonging to about 39,798 customers. The records included names, email addresses, shipping addresses, phone numbers, and purchase details. SafePal said the incident did not affect wallet credentials or payment information; it also said it had fixed the flaw and notified affected customers.
Trezor has reported two distinct incidents involving outside providers. As previously covered by crypto.news, the wallet maker said information belonging to more than 80,000 customers was exposed through shipping provider ShipMonk. Trezor said its own systems, hardware wallets, private keys, and recovery phrases were not compromised. Its expanded disclosure included records belonging to about 67,000 additional U.S. customers who had placed orders between November 2019 and August 2021.
On Sep. 9, Trezor warned that an attacker had breached its third-party email provider and sent phishing messages posing as urgent security alerts. The emails falsely claimed that a hardware flaw put users’ recovery phrases at risk. Trezor said it had taken down the domain used in the attempt and was investigating. BitBox warned users the same day about emails impersonating its company and said its newsletter provider was likely compromised.
Earlier in 2026, scammers also sent physical letters posing as notices from Trezor and Ledger. The wallet phishing letters directed recipients to scan QR codes and enter their recovery phrases on malicious websites. Trezor and Ledger said they do not ask users to share recovery phrases through websites or other outside channels.
Crypto World
FTX’s Caroline Ellison is “Carol” Now and Secretly Works for a Charity
Remember Caroline Ellison? The Alameda CEO who helped Sam Bankman-Fried steal $8 billion in customer funds from FTX. After serving 2 years in prison, she is now doing charity work under the name “Carol”.
Manifund cofounder Austin Chen disclosed on Friday that the former Alameda Research CEO is now a full-time hire. Manifund is a nonprofit grant platform that funds effective altruism and artificial intelligence safety projects. It promises radical transparency by publishing its finances, data, and source code.
A Transparency Pledge and a Hidden Hire
Ellison reportedly started a work trial on July 13 and converted to a full-time role on August 10. Across both months, she posted updates and handled user support as Carol.
Chen apologized for the pseudonym while defending the decision. His broader argument leans on second chances rather than on her résumé.
“I believe in redemption. Caroline has admitted her faults, worked to make creditors whole, and served her time in prison,” he wrote.
He also credits the FTX Future Fund, the philanthropic arm the exchange built, for seeding his earlier projects and shaping how Manifund gives money away.
Her practical selling point is bookkeeping. Chen says she built a reconciliation tool that flagged misregistered transactions worth six-figure amounts. Alameda’s own records concealed roughly $8.7 billion in missing customer deposits.
A New Life for Caroline Ellison Beyond FTX
The Commodity Futures Trading Commission (CFTC) closed her civil case on August 19, as BeInCrypto reported. Ellison accepted a five-year trading ban and a 10-year registration ban without a new fine.
Regulators pointed to her cooperation and to an $11.02 billion criminal forfeiture already on the books.
A separate Securities and Exchange Commission (SEC) order bars her from officer and director roles at public companies, a restriction noted when she left prison in January. Nonprofit staff work sits outside it.
Meanwhile, FTX’s estate has no such ending. On the same day, its recovery trust asked a Delaware judge to block two claimants from reviving old fraud theories for extra payouts.
The trust has already sent more than $11 billion to creditors under a plan built to settle those claims collectively. That fight resumes on October 20.
The post FTX’s Caroline Ellison is “Carol” Now and Secretly Works for a Charity appeared first on BeInCrypto.
Crypto World
Bitcoin sentiment tops 89 for first time since March 2024
Bitcoin market sentiment has risen above 89 on an index tracked by CryptoQuant analyst Darkfost, reaching its highest level since March 2024 before easing back.
Summary
- Darkfost’s sentiment measure briefly entered the “extreme greed” range during Bitcoin’s recent rise.
- The analyst said the reading has since cooled while Bitcoin tries to hold its price.
- CoinGecko showed Bitcoin near $77,300 after a 24-hour range spanning roughly $76,400 to $79,600.
- U.S. spot Bitcoin ETFs recorded $462.7 million in net outflows during the Sep. 8–11 trading week.
CryptoQuant analyst Darkfost said the last comparable burst of bullish sentiment came in March 2024. His measure briefly climbed above 89 out of 100 as Bitcoin rose, putting it in the range he describes as “extreme greed.”
The reading has since moved down from its peak, according to Darkfost, even as Bitcoin attempts to hold its current price. He cautioned that unusually optimistic or pessimistic readings deserve attention because they can appear around market turning points. His observation identifies a risk to watch; it does not establish that Bitcoin has begun a reversal.
Bitcoin sentiment has cooled from its peak
Darkfost’s comparison with March 2024 concerns the sentiment measure cited in his post. The measure incorporates Fear & Greed data alongside other inputs, so its reading of more than 89 should not be presented as the current value of every crypto sentiment index.
For comparison, Alternative.me’s separate Fear & Greed Index stood at 63, classified as “greed,” when checked for this report. Its page showed 56 the previous day, 73 a week earlier, and 29 a month earlier. Alternative.me says its index draws on Bitcoin volatility, trading momentum and volume, social-media activity, Bitcoin’s share of the crypto market, and search trends.
The two readings serve different purposes in the story. Darkfost’s figure describes the high reached by the measure he follows; Alternative.me’s figure provides a separate, current snapshot of market mood. Neither reading shows how much Bitcoin investors have bought or sold, and neither gives a price target.
Darkfost also drew a distinction between sentiment during a sustained bear market and sentiment as prices change course. In his account, negative readings can persist for long periods when the market is weak. Extreme readings become more useful to monitor when investor behavior changes alongside price, although his post does not specify a date or price at which Bitcoin might turn.
Bitcoin trades below its recent $80,000 test
At the time of the latest CoinGecko price check, Bitcoin traded near $77,300. The site showed a 24-hour low of about $76,393 and a high of about $79,607, placing the current price well below the top of that daily range. Live prices and rolling ranges will change before publication.
The price action gives context to Darkfost’s point about sentiment cooling while Bitcoin tries to hold its level. It does not show when his index reached its high, so the market data should not be used to claim that a specific intraday move caused the reading above 89.
Recent crypto.news coverage has tracked the price levels around the pullback. On Sep. 10, a Bitcoin technical report recorded a fall below $78,000 and identified the lower daily Bollinger Band near $76,392 at the time. The report also put the band’s midpoint near $78,650 and its upper boundary near $80,907. Those were chart readings from Sep. 10, rather than newly calculated levels for the present session.
Earlier in the week, analysts told crypto.news that Bitcoin could remain under $82,000 before the Federal Reserve’s next decision. In the Sep. 7 report, CoinEx chief analyst Jeff Ko described support around $78,000–$79,000 and a cap near $82,000. Bitcoin’s later move below $78,000 means the quoted support range has already been tested; Ko’s earlier levels should be read in the context of when he gave them.
The same Sep. 7 report said U.S. spot Bitcoin ETFs had taken in about $986.9 million during the previous trading week, bringing three weeks of inflows to roughly $3.8 billion. Ko said he wanted to see further inflows while Bitcoin traded sideways before calling the activity sustained accumulation. The following week’s fund data has provided a different result.
U.S. Bitcoin ETF flows have turned negative
During the Sep. 8–11 trading week, U.S.-listed spot Bitcoin ETFs recorded $462.7 million in net outflows, according to Farside data covered Saturday. The funds posted a net loss in each of the four sessions after U.S. markets closed for Labor Day on Monday, Sep. 7.
Thursday accounted for the largest daily withdrawal at $282.7 million. The net outflow eased to $13.2 million on Friday, while ARK 21Shares’ ARKB posted the largest weekly loss among individual Bitcoin funds at $234.2 million, according to the report. BlackRock’s IBIT lost a net $52.5 million over the four sessions.
Fund flows give U.S. investors another measure to follow alongside Darkfost’s sentiment reading, though they track different activity. Farside’s figures measure net subscriptions and redemptions in the listed products; they do not establish whether a particular ETF holder bought or sold Bitcoin directly. Nor does a weekly net outflow, on its own, explain a daily price move.
U.S. inflation data has also entered the market picture ahead of the Fed’s meeting. In its Aug. consumer price report, released Sep. 11, the Bureau of Labor Statistics said prices rose 3.4% over 12 months, matching July’s annual rate. Prices excluding food and energy rose 0.3% in August and 2.4% from a year earlier.
The Federal Reserve calendar lists its next policy meeting for Sep. 15–16. The meeting date is confirmed, while its decision and any subsequent Bitcoin price response remain unknown.
Crypto World
Ripple (XRP) Price Outlook: Two Key Metrics Are Flashing Warning Signs
XRP went on a massive run after the August 19 breakout, surging from the key psychological support at $1.00 to a multi-month peak at $1.70, all within the span of just 72 hours.
However, the subsequent rejection was quite violent, and the token lost a few crucial support levels on the way down, including $1.60, $1.50, and, most recently, $1.40. It now sits below the last one, and some on-chain data suggests more pain is ahead.
Activity Slumps
Perhaps the most evident reason behind XRP’s major breakout several weeks ago came from whales. These large market participants ‘went crazy’ in their accumulation efforts, scooping roughly 400 million tokens within a week or so. In addition, network activity spiked, showing increased interest in the token and the blockchain behind it.
The same investors have turned on the cross-border token, according to more recent data shared by Ali Martinez. Citing Santiment Intelligence, he noted that the “pullback appears to be driven in part by profit-taking, with whales selling or redistributing roughly 90 million XRP over the past week.”
Naturally, such moves from the largest ecosystem participants have a two-fold effect. First, they increase the immediate selling pressure. Second, their example can be followed by retail investors who tend to copy whales.
The second major warning comes from the network activity. Daily active addresses have plunged by over 90% from the peak during the rally of 388,492 to 38,163. According to Martinez, this signals a “significant drop in participation during the correction.”
The analyst added that XRP has found “critical support” near $1.35, where 2.29 billion tokens were previously traded. If the asset maintains that level, it could rebound toward $1.60 or even $1.68 next.
600% Rally in the Making?
Another popular analyst, Celal Kucuker, was even more optimistic about XRP’s future. They added that the token’s rally to its previous all-time high began when it stood 12% below its 50-day moving average. Current data shows that it trades at the same point now.
As such, the cross-border token could reignite another major run if it manages to reclaim the 50-day MA soon. The analyst predicted a massive 600% move based on historical performance and the Fibonacci equality. If Kucuker’s prediction comes to fruition, it could push XRP to over $9, more than double its current all-time high.
The previous ATH rally started when XRP was 12% below the 50-day moving average.
We are at the same point now: 12%
Above the 50-day MA = The bull run begins for XRP
If the 13.55% descending channel breaks to the upside, a 600% move could begin based on Fibonacci equality! pic.twitter.com/Pw6Cwhk6iJ
— Celal Kucuker (@CelalKucuker) September 11, 2026
The post Ripple (XRP) Price Outlook: Two Key Metrics Are Flashing Warning Signs appeared first on CryptoPotato.
Crypto World
BTC Settles at $77K After a Wild Ride, ETH Slumps Following Major Rally: Weekend Watch
Bitcoin’s price went on a rollercoaster ride on Friday before and after the release of the August CPI data, before it finally calmed at around $77,000.
Ethereum rode the ride to the fullest, skyrocketing to a new eight-month high before it was stopped. Most larger-cap alts are in the green on a 24-hour scale.
BTC’s Wild 24-Hour Window
The primary cryptocurrency was rejected at over $80,000 at the start of the business week and never made it back there in the following days. Just the opposite: the selling pressure mounted as global economic uncertainty grew, and BTC dipped to $77,600 just a few days later. Its rebound attempt was halted at $79,600 twice on September 9 and 10 before the bears initiated another leg down to under $77,000 after the release of the PPI data on Thursday.
BTC managed to withstand the intensifying pressure and remained sideways at around $77,000 as Friday approached. This was the most pivotal part of the economic week as the markets expected the release of the CPI data for August. Once the numbers went live, which actually matched expectations almost perfectly, the real storm began.
At first, BTC plunged to a multi-week low of $76,000. However, it bounced off immediately and skyrocketed by nearly $4,000 to $79,800. Another rejection took place, and bitcoin slumped to its starting point at just over $77,000, where it currently stands. All eyes are on the Fed now that it has the full picture.
Its market cap stands still at $1.550 trillion, while its dominance over the alts is down to 58.7% on CMC.

ETH Saw 8-Month Peak
Ethereum emerged as the top gainer yesterday during the post-CPI rally. It skyrocketed from $2,440 to a new eight-month high at $2,670 before it was stopped and driven south to just over $2,500 as of now. Nevertheless, it’s still 3% up on the day, similar to BNB, which sits above $730. XRP remains well below $1.40 even after a 2% daily jump, while SOL has defended the $100 support.
ZEC and XMR are on the rise again, jumping by 4.8% and 5.3%, respectively. UNI and SKY are the other notable gainers from the large-cap alts, followed by XLM, BCH, and LTC.
The total crypto market cap has increased by 0.6% since yesterday on CMC, and it’s up to $2.640 trillion.

The post BTC Settles at $77K After a Wild Ride, ETH Slumps Following Major Rally: Weekend Watch appeared first on CryptoPotato.
Crypto World
Securitize's HINC Becomes Collateral on Solana's Loopscale
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Securitize's tokenized high-yield credit fund is live as collateral on Loopscale, letting eligible investors borrow the USDG stablecoin against their shares without redeeming the position. That puts sub-investment-grade corporate credit into an onchain lending market whose collateral has been… Read the full story at The Defiant
Crypto World
UK crypto firms get five-month window to seek FCA approval
UK crypto firms have been given a five-month application window, from Sep. 30 to Feb. 28, to seek Financial Conduct Authority approval before a new regulatory regime is expected to take effect in October 2027.
Summary
- The FCA will accept applications from Sep. 30, 2026, through Feb. 28, 2027.
- Firms with existing anti-money-laundering registrations will need separate approval for regulated crypto activities.
- Eligible firms that apply within the window may continue specified services while the FCA reviews their applications.
- Zumo CEO Nick Jones says clearer rules could encourage financial firms to expand their UK crypto offerings.
The Financial Times published a letter from Zumo founder and CEO Nick Jones, who said the application window gives firms a route into a UK market that some financial institutions had previously considered “too difficult.” In his view, uncertainty over regulation and the risks posed by business partners had held institutions back, even where they understood digital assets and wanted to offer related products.
The FCA’s published timetable puts an exact date on the next step: applications open on Sep. 30, 2026, close on Feb. 28, 2027, and the new regime is expected to begin on Oct. 25, 2027. The regulator opened a pre-application support service in July to help firms prepare before they file.
UK crypto firms must apply for new permissions
Under the incoming rules, a firm carrying out regulated crypto activities will need FCA authorisation or a change to its existing permissions. The FCA says its current crypto oversight has focused mainly on anti-money-laundering registration and financial promotions; the 2027 framework will bring more activities into its financial-services rulebook.
According to the FCA’s final policy statements, an existing registration will not turn into permission under the new regime. Firms already registered under money-laundering rules, as well as companies authorised for other financial services, must apply if their crypto activities fall within the new rules. As crypto.news previously reported, the requirement covers businesses such as trading platforms, custodians, stablecoin issuers and firms offering certain staking services.
Filing during the five-month window also affects whether an existing business can keep operating while its application is assessed. The FCA says firms that apply on time may continue specified activities under transitional provisions if they meet the conditions. Firms applying after Feb. 28, 2027, cannot rely on those provisions and may have to stop the relevant activities until they receive approval. An application itself does not grant permission, and the regulator has not guaranteed a decision on every timely filing before the regime starts.
The rules set requirements for firms’ finances, governance and conduct, alongside activity-specific standards. The FCA’s June policy statements address matters including stablecoin issuance, crypto custody, disclosures when assets are offered or admitted to trading, and controls against market abuse. Applicants can therefore assess the rules for the services they plan to offer, rather than treating authorisation as a single permission for every crypto product.
Financial firms expand access through crypto ETNs
Jones pointed to Hargreaves Lansdown as an example of a traditional investment platform entering the market. The company began offering nine Bitcoin and Ether exchange-traded notes to eligible clients on Sep. 3, as covered on crypto.news. The notes give investors exposure to the assets’ prices; customers do not buy coins directly or control the private keys to them.
Access is limited to clients using the platform’s Advanced Investing service. According to Hargreaves Lansdown’s product details reported by crypto.news, customers must self-certify as advanced investors, pass a test about the products’ risks, and complete a 24-hour cooling-off period. The platform’s launch followed the FCA’s decision to let UK retail investors buy qualifying crypto ETNs from October 2025.
Hargreaves Lansdown’s ETN offering and the coming authorisation process concern different parts of the market. The ETNs are listed investment products already available under FCA rules, while the new application window is for firms seeking permission to carry out activities covered by the 2027 crypto regime. Jones linked the two in his FT letter as evidence, in his assessment, that established financial companies are becoming more willing to develop UK crypto services.
The FCA has also considered another route for investment funds to gain exposure. In June, it proposed a 10% limit on crypto ETN holdings for certain authorised funds, while saying it was not then considering direct crypto ownership by those funds. The proposal was separate from the rules that already let eligible retail customers buy ETNs through investment platforms.
Offshore exchanges face an FCA application decision
For overseas businesses serving UK customers, the authorisation window presents a separate decision about whether to seek permission for covered services. In August, crypto.news reported Binance’s planned bid for an FCA licence, citing a Telegraph report. Binance had not publicly confirmed a filing, and the FCA’s existing restrictions on Binance Markets Limited remained in place.
Jones argued in his FT letter that more firms will need compliant local partners and operating systems as they prepare for UK rules. He described offshore provision and loosely organised business processes as models he expects the industry to move away from. Those are Jones’s expectations, rather than an FCA finding that offshore firms have already changed how they operate.
The US is addressing a different regulatory question. On Aug. 18, the Securities and Exchange Commission proposed rules for certain investment contracts involving crypto assets, including proposed exemptions from securities registration. The proposal remains open to public comment and does not change the FCA’s requirements for firms conducting regulated activities in the UK.
Crypto World
Bitcoin activity, passports exposed after Revolut falls for fake government request

Passports, selfies and home addresses were also handed over after the digital bank treated a fraudulent request as legitimate, the firm said Saturday, but no customer funds were lost.
Crypto World
Firelight Raises $8 Million to Backstop DeFi Vaults With Staked XRP
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Firelight, a cover protocol that uses staked XRP to backstop DeFi vaults against exploits, has raised $8 million in a seed round led by Gumi Cryptos Capital, with its first cover integrations scheduled to go live this month. Onchain cover has stayed marginal relative to the capital it would… Read the full story at The Defiant
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