The UK’s Financial Conduct Authority (FCA), is planning to restrict retail investors from borrowing money to fund their crypto investments.
Here are the latest developments from the world of crypto over the past few days
The UK’s Financial Conduct Authority (FCA), is planning to restrict retail investors from borrowing money to fund their crypto investments.
According to a report in the Financial Times, this ban on borrowing to fund crypto rules is one of the upcoming crypto rules by the UK’s regulatory body. FCA executive director of payments and digital finance, David Geale, told the FT that “crypto is an area of potential growth for the UK, but it has to be done right.”
“To do that we have to provide an appropriate level of protection,” he said.
Geale also denied the claims that the FCA is hostile to the crypto industry. Instead, he explained that he views the industry as offering high-risk investments with less consumer protection. “We are open for business,” he added.
Geale’s comments assume significance in the backdrop of the FCA seeking feedback on regulating the crypto market. The FCA has previously said that it is “exploring whether it would be appropriate to restrict firms from accepting credit as a means for consumers to buy crypto assets.”
The EU is set to impose anti-money laundering (AML) rules in order to ban privacy-preserving tokens and anonymous cryptocurrency accounts from 2027.
Under the new rules, credit institutions, financial institutions and crypto asset service providers (CASPs) will be prohibited from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies, such as Monero and Zcash.
According to the AML Handbook, published by European Crypto Initiative (EUCI), “Article 79 of the AMLR establishes strict prohibitions on anonymous accounts [...]. Credit institutions, financial institutions, and crypto-asset service providers are prohibited from maintaining anonymous accounts.”
According to Cointelegraph, the regulation is part of a broader AML framework that includes bank and payment accounts, passbooks and safe-deposit boxes, “crypto-asset accounts allowing anonymisation of transactions,” and “accounts using anonymity-enhancing coins.”
The US Securities and Exchange Commission (SEC) has decided to drop its case involving the sale of unregistered securities against crypto influencer and YouTuber Ian Balina.
On May 1, 2025, in a joint stipulation with Balina to an Austin federal court, the SEC said it “believes the dismissal of this case is appropriate,” citing the work of the agency’s Crypto Task Force.
The SEC didn’t give a reason for wanting to dismiss its case, but said its decision “does not necessarily reflect the Commission’s position on any other case.”
Earlier in March, Balina had told Cointelegraph that the SEC had informed him it would recommend the court dismiss the case and claimed the agency’s actions were based on a shift in the agency’s priorities.
“Obviously, the new administration is pro-crypto,” Balina said.
The SEC has seen a change in leadership under US President Donald Trump, who appointed former crypto lobbyist Paul Atkins to chair the agency.