Digital Currency Group subsidiary Luno to pause certain UK services, citing forthcoming regulations | Headlines | News | CoinMarketCap
09/12/2023 06:45
Luna, a subsidiary of Digital Currency Group (DCG), will soon pause certain services in the U.K., according to a report on Sept. 11. That report …
Luna, a subsidiary of Digital Currency Group (DCG), will soon pause certain services in the U.K., according to a report on Sept. 11.
That report indicates that the company will halt some crypto trading features by Oct. 6 in advance of new rules set by the U.K.’s Financial Conduct Authority (FCA). Those rules will severely restrict how cryptocurrency companies can advertise their services; among other restrictions, these regulations will effectively ban crypto referral programs.
The current report states, based on an email sent to users, that Luno will pause buying and trading. However, Luno’s head of public policy, Nick Taylor, explained that users will be able to sell and withdraw their funds while services are otherwise paused.
Taylor also stated that the service pause will only …