Ziglu Crypto Bank Faces Collapse and FCA Imposes Restrictions Amid Financial Turmoil
2025-07-10 03:43:58

Main Idea
Ziglu, a UK-based crypto-friendly bank, faces financial collapse and regulatory restrictions from the FCA, which is overseeing its compliance with AML regulations while ensuring consumer protection.
Key Points
1. Ziglu, a UK crypto-friendly financial institution, entered intervention on July 7 due to financial instability.
2. The FCA imposed restrictions on Ziglu but maintained oversight of its compliance with anti-money laundering (AML) regulations.
3. The FCA's actions reflect its commitment to ensuring consumer protection and financial stability in the UK's crypto market.
4. Ziglu agreed to secure customer funds on June 17, following earlier regulatory measures.
Description
On July 7, Ziglu, a UK-based crypto-friendly financial institution, entered special administration following significant financial distress. The firm, authorized by the Financial Conduct Authority (FCA) to issue electronic money and
Latest News
- US House Hearing May Explore Bitcoin Tax Policy Framework Amid Crypto Legislative Push2025-07-10 17:03:22
- Bitcoin Nears New Highs Amid Speculation on Fed Rate Cuts Following Trump’s Comments2025-07-10 17:00:56
- Polygon PoS Network Undergoes Heimdall v2 Migration, Temporary Service Disruptions Possible2025-07-10 16:43:17
- Gates Inc. and Oasys Explore Real Estate Tokenization Potential on Oasys Blockchain2025-07-10 16:37:23
- Rumble Explores Launch of Crypto Wallet Following Bitcoin Treasury Expansion2025-07-10 16:35:45