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UK regulator announces temporary registration regime, extends operating deadline to July 9 for existing crypto businesses Quick Take The U.K.’s Financial Conduct Authority (FCA) has just announced a “temporary registration regime” for existing crypto businesses. The new regime allows crypto firms that have applied for registration to continue operating until July 9, 2021. The previous deadline was January 10, 2021. The U.K. s Financial Conduct Authority (FCA) has just announced a temporary registration regime for existing crypto businesses. The new regime allows crypto firms that have applied for registration to continue operating until July 9, 2021. The previous deadline was January 10 of that year. ....
Bitcoin Ecosystem Expands With Sovryn Launch of Defi App and $2.1M Raise The use cases for bitcoin (BTC) continue to expand as projects push the limits of how the decentralized currency can be utilized. The latest initiative, a decentralized finance (defi) app from Sovryn, allows bitcoin to be used as collateral for issuing stablecoins, trading, borrowing, lending and generating yield. The platform is set to launch following completion of a $2.1 million raise led by Greenfield One, Collider Ventures and Monday Capital. It will be hosted on RSK, a Bitcoin-based platform secured by the network’s miners, that introduces smart contracts that were once the preserve of Ethereum. ....