LONDON (Reuters) – Crypto broker CoinBurp has no authorisation for a planned launch of its $BURP token and initial exchange offering on Monday, July 26, Britain’s Financial Conduct Authority (FCA) said on Sunday in the latest crack down on crypto trading.
CoinBurp said last week it had raised $6 million to build a platform for buying and selling non-fungible tokens (NFTs), digital assets that are attracting interest from some investors but also scrutiny from regulators worried about the risks.
“The firm does not yet hold full FCA registration under the money laundering, terrorist financing and transfer of funds (information on the payer) regulations … but has submitted an application for the FCA for registration,” the FCA said in a statement.
Although CoinBurp is listed on the FCA’s temporary registration register, this does not allow any firm to claim to be registered or authorised by the FCA, the watchdog said.
“Whilst firms with this status can continue to trade, such firms and their personnel have not yet been assessed as fit and proper, and we have not yet determined their…
