UK-based cryptocurrency-friendly financial institution Ziglu has entered regulatory intervention following severe financial instability. The Financial Conduct Authority (FCA) imposed operational restrictions on the firm on July 7 while maintaining oversight of its anti-money laundering (AML) compliance protocols.
The FCA’s intervention underscores its commitment to safeguarding consumer interests and preserving financial stability within the UK’s digital asset market. Regulatory measures ensure ongoing monitoring of Ziglu’s adherence to AML requirements despite the firm’s distressed financial position.
This action follows Ziglu’s earlier agreement on June 17 to secure customer assets under previous regulatory directives. The FCA continues to prioritize consumer protection mechanisms throughout the resolution process.