Quantcast

FCA refuses Zeux Limited's crypto assetexchange application

Tokenized Treasuries Hit Record $4.2B Market Cap as Crypto Correction Fuels Growth
Maximizing BNB Utility on Binance: A Guide to the Benefits
FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapse
Binance recognized by Indonesian cybercrime directorate for collaborative efforts
It's the first institutional investment in the crypto exchange and the investment was made in an unnamed stablecoin, Binance said.
US CPI Inflation Drops to 2.8%: Is Bitcoin About to Explode Again?
Business founder on Binance France allegations: 'What is this madness?'
Indian authorities arrest alleged Garantex founder for US extradition
Trump’s crypto summit ‘not going to have anything on taxes’ — White House official
Bitcoin: USA could sell gold to finance its strategic BTC reserve
Lawmaker of Japanese LDP on crypto regulation: We will classify 'Crypto assets as a new asset class'
Tom Lee Predicts Market Bottom This Week, Still Sees Bitcoin Closing the Year at $150K
IMF deal to ban public sector ‘Bitcoin accumulation’ in El Salvador
Bitcoin: Michael Saylor's company pauses BTC purchases
Head of law enforcement training at Binance: We need 'a unified approach between law enforcement and industry leaders'
Bitcoin Sell-Off Could Be a Textbook 'Breakout and Retest' Play: Godbole
CEO of Binance on crypto market turbulence: 'A tactical retreat, not a reversal'
Bybit hack forensics show SafeWallet compromise led to stolen funds
Bitcoin News: U.S. Spot Bitcoin ETFs See Record Single-Day Outflow of Over $900M as Carry Trades Yield Less Than the 10-Year Treasury Note
How DeFAI can scale safely in the age of AI
CZ unveils crypto investment portfolio with a 98.5% allocation to BNB, 1.3% to BTC
New SEC Cyber Unit Closes Chapter on Agency's Crypto Enforcement Emphasis
SEC Launches Fraud Unit That Exploits Crypto, AI Enthusiasm
CZ on aid for Argentinian rug pull victims: 'Sent 150 BNB. Good luck'
CEO of AUSTRAC on non-AML compliant crypto exchanges: They 'can expect to hear from us'
Memecoin LIBRA in Argentina: A look back at a future state scandal? Crypto Dossier
U.S.-Listed Bitcoin Miners Are Growing Their Share of the Network Hashrate: Bernstein
Governor of Bank of Italy: Crypto 'regulatory divergences between the U.S. and Europe will need to be carefully assessed'
Blockchain Wars: BNB Chain Overtakes Solana and Ethereum in Daily Fees
Former prosecutor of DOJ: The corporate monitorship system is 'in dire need of reform'
FCA refuses Zeux Limited's crypto assetexchange application
Web3/Crypto
Webp chambers
Therese Chambers, Joint executive director of enforcement and market oversight | FCA

The Financial Conduct Authority (FCA) announced the refusal of Zeux Limited's application for cryptoasset exchange provider registration under the Money Laundering Regulations (MLRs). The announcement was made in a press release on March 17, 2025.

According to the FCA, Zeux Limited's application was refused due to significant shortcomings in anti-money laundering (AML) controls. The application, submitted in June 2022, revealed that the firm failed to implement effective risk management measures, resulting in an increased risk of harm to the public. Key failures included inadequate understanding and documentation of risks, failure to address the National Risk Assessment, and issues with customer risk assessments and suspicious activity reporting.

Under the UK's Money Laundering, Terrorist Financing, and Transfer of Funds Regulations, crypto firms must meet strict requirements for AML controls to operate legally. The FCA encourages firms interested in registration to engage early by seeking guidance through pre-application meetings and ensuring complete applications for assessment.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

The FCA mandates registration for businesses offering certain cryptoasset services in the UK under the MLRs. This applies to firms operating in the UK or providing specific cryptoasset services, including those already registered for other services. Applications must be submitted via the FCA's Connect system, including required documentation. Pre-application meetings are available to discuss the process but do not ensure approval. Registration and annual fees apply. The FCA reviews applications within three months once all required information is provided.

The Financial Conduct Authority is the United Kingdom's primary financial regulatory body, established in 2013 to oversee financial markets and protect consumers. Operating independently of the UK government, it has the authority to regulate conduct related to financial products and services. In recent years, it has taken a conservative stance on digital assets, implementing stringent regulations that some critics argue hinder innovation in the sector.

Organizations Included in this History
FCA
More News

Bitcoin, Ethereum, Binance Coin & more: Today's crypto overview — March 30, 2025

Mar 31, 2025

From Bitcoin to Solana: Here’s how major cryptocurrencies moved today – March 29, 2025.

Mar 30, 2025

The Financial Conduct Authority (FCA) announced the refusal of Zeux Limited's application for cryptoasset exchange provider registration under the Money Laundering Regulations (MLRs).

Mar 30, 2025

The National Securities Market Commission (CNMV) has released a list of warnings concerning unregistered financial and cryptocurrency service entities.

Mar 30, 2025

The Commissione Nazionale per le Società e la Borsa (Consob) announced it held a conference discussing the impact of crypto assets and the need to adapt regulatory frameworks to data science.

Mar 30, 2025

The Autorité des Marchés Financiers (AMF) has announced that financial entities, including crypto-asset service providers, are invited to contribute to the European Banking Authority's (EBA) consultation on draft anti-money laundering and...

Mar 30, 2025