United Kingdom

Blockchain.com executives Nicolas Cary and Al Turnbull are facing legal trouble for failing to submit the company's financial accounts for 2022, with court proceedings starting in September 2024. The company attributes the delays to restructuring and workforce cuts, but their inability to meet filing deadlines has raised concerns about operational transparency and investor confidence.

TikTok is under UK scrutiny for allegedly operating as an unlicensed crypto exchange, raising concerns about financial regulation. This mirrors recent actions against platforms like Telegram, sparking questions about whether more social media apps will face similar scrutiny.

A London man has denied charges of running an illegal cryptocurrency ATM business and laundering £300,000 without FCA authorisation. Currently out on bail, his next hearing is slated for 7 November.

Federal authorities have indicted Gotbit, ZM Quant, CLS Global, and MyTrade for alleged crypto market manipulation and sham trading. Prosecutors claim the firms secretly offered services to inflate trading volumes, involving a network of companies and individuals now under investigation.

Meta has expanded its Fraud Intelligence Reciprocal Exchange (FIRE) program to enhance cooperation with UK banks in the fight against scams. This initiative aims to improve fraud detection by sharing important information and data between financial institutions and Meta.

As blockchain and crypto adoption rises globally, more users are seeking quick profits. Over the past year, more than 250 individuals in the UK lost over $650,000 to fraudulent Bybit demo accounts. Investigations into these scams are being conducted by blockchain expert ZachXBT.

Olumide Osunkoy faces prosecution on multiple charges related to the operation of crypto ATMs across the UK. He could spend up to 26 years in jail if convicted of all charges.

Telegram Wallet has temporarily suspended UK operations for compliance with FCA regulations. Users can withdraw assets, and the suspension is separate from legal issues faced by Telegram’s CEO, Pavel Durov.

AI researchers are advocating for a robust contingency plan to address the risk of losing control over AI systems. This measure seeks to prepare for scenarios where AI could act unpredictably, emphasizing the need for strong safeguards and strategies to manage potential risks.

Meta has resumed AI training in the U.K., using public content from Facebook and Instagram after resolving privacy concerns with regulators. The company assures users that private messages and data from those under 18 are excluded, though some still worry about privacy and AI's growing role.