Revolut, a fintech firm, has announced that it will temporarily suspend its cryptocurrency trading services for business clients in the UK. This decision comes in response to upcoming regulatory changes by the Financial Conduct Authority (FCA) in early 2024. According to internal communications, starting from January 3, 2024, UK business customers will no longer be able to purchase cryptocurrencies through Revolut’s platform, although they will still be able to hold and sell their existing crypto assets. Retail clients will not be affected by these changes. The FCA’s new rules aim to enhance investor protection in the crypto market and include measures such as a 24-hour cooling-off period for new crypto investments and a ban on promotional incentives. Revolut’s proactive approach in aligning with these regulations reflects its commitment to compliance and customer protection. This move follows a similar temporary suspension of crypto activities by Revolut in the US due to regulatory uncertainties.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries
Sentiment	neutral
Relevance Score	1
People	None
Companies	Revolut, Financial Conduct Authority (FCA)
Currencies	None
Securities	None