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🇺🇸 FED Chair Jerome Powell says "we see stablecoins as a form of money.

https://twitter.com/WatcherGuru/status/1671529678287298563?s=20

I can on IG

A Class 3 Electronic Money Institution (EMI) license from the UK Financial Conduct Authority (FCA) allows a company to issue e-money, which is a digital form of money that is stored and used electronically. Class 3 EMIs are subject to less regulatory requirements than other types of EMIs, such as Class 4 EMIs. This means that Class 3 EMIs can typically offer their services at lower prices and with fewer restrictions.

However, Class 3 EMIs are still subject to certain FCA requirements, such as:

🟩 Keeping customer funds segregated from their own funds

🟩 Having adequate financial resources

🟩 Complying with anti-money laundering and counter-terrorism financing regulations

Class 3 EMIs can only issue e-money up to a certain limit, which is currently set at £50 million. If a Class 3 EMI wants to issue more e-money, it must apply for a Class 4 EMI license.

Here are some of the benefits of having a Class 3 EMI license from the FCA:

🟩 Increased credibility and trust with customers

🟩 Access to new markets and customers

🟩 Increased ability to raise capital

🟩 Reduced regulatory burden

🟦 Dec 16, 2022: GSFinTech Limited, a subsidiary of GSTechnologies, announces that it has been granted a Class 3 Electronic Money Institution (EMI) license by the UK Financial Conduct Authority (FCA).

This is a significant piece of news regarding the FCA's approval of the sandbox plan.

🟦 June 29, 2023: GSTechnologies announces that it has cancelled the Loan Facility announced on 28 February 2023. [Mar 2, 2023] GSTechnologies announces that it has received a conversion notice from the Loan Facility announced on 28 February 2023.

🟦 Feb 20, 2023: GSTechnologies announces that it has filed a Regulatory Sandbox Application for its GS Money Stablecoin.

🟦 Jan 27, 2023: GSTechnologies announces that it has signed a Memorandum of Understanding with the Bank of Lithuania to explore the development of a central bank digital currency (CBDC).

🟦 Dec 16, 2022: GSFinTech Limited, a subsidiary of GSTechnologies, announces that it has been granted a Class 3 Electronic Money Institution (EMI) license by the UK Financial Conduct Authority (FCA).

🟦 Nov 17, 2022: GSFinTech Limited, a subsidiary of GSTechnologies, announces that it has completed a £750,000 placing to raise funds for its expansion plans.

🟦 May 17, 2022: GSTechnologies announces that it has raised gross proceeds of £750,000 through a placing of new ordinary shares.

🟦 Mar 8, 2022: GSTechnologies announces that it has appointed Malcolm Groat as a Non-Executive Director.

🟦 Feb 22, 2022: GSTechnologies announces that it has appointed Galvin Bai as an Executive Director.

🟦 Jan 20, 2022: GSFinTech Limited, a subsidiary of GSTechnologies, announces that it has been granted a Class 4 Electronic Money Institution (EMI) license by the UK Financial Conduct Authority (FCA).

🟦 Dec 15, 2021: GSTechnologies announces that it has completed the acquisition of Angra Pte Ltd, a Singapore-based fintech company.

I found where Lloyd88 is staying now

picture link - https://ibb.co/kB4QhKh

@StarBright - I think we've already in oversold territories at highs of 1.70p due to delayed FCA approval news. Now we're in the bounce-back stage and expecting news flow on multiple fronts. Most PIs will load up for big gains. Traders will always trade, and LTH will add at a cheap price for significant gains. Also, the BOD bought at 2p, and soon we will find out.

Royal Assent can be granted immediately after a bill has passed through Parliament, or it can take a few days. There is no set time period for Royal Assent.

Come on, 👑 just sign the bill as soon as possible so that the FCA can wake up and approve the sandbox plan.

MMs loading up, buys coming in thick and fast.

Can't buy large chunks and going to NT on the Barclays platform.

Those are the facts. You can figure it out yourself.

In November 2022, Revolution Beauty's market capitalization was £1.6 billion. So, Boohoo's 26.4% stake would have cost approximately £422.4 million

Current Mcap £90 million is joke.

BOO board have pay more to takeover :) 100p will do for us.

As you can see, the company has been making losses in recent years. However, the first quarter of 2023 shows that the company is starting to turn things around. The company's CEO, Bob Holt, has said that he believes the company is on track to return to profitability in full-year 2023.

Revolution Beauty Group PLC reported £3.5 million in underlying earnings (EBITDA) in the first quarter of its new financial year, which ran from March to May 2023. This reversed a loss of £7.4 million a year ago. Sales for the cosmetics brand were up 60% on the same time last year, with gross margins improving to 48.2% from 41.7%.

We could easily break last year's high of 72p. GLA.

Regulatory and Compliance Team went to London to conclude our first cohort of the UK’s FCA’s Regulatory Sandbox with fascinating in-person lessons learned discussion between our participating VASPs and FCA and, of course, drinks to celebrate! 🎉 https://twitter.com/LanaCryptoAML/status/1661433476539711495?s=20

This Steve guys is a joker.. Just look at his post from ARB lol

The UK’s Financial Conduct Authority (FCA) has announced the launch of a unified support service designed to provide bespoke regulatory support to innovative firms.

https://www.pinsentmasons.com/out-law/news/fca-launches-bespoke-support-service-innovative-financial-services-firms

Firms which apply successfully to the FCA’s Innovation Pathways will be assigned a dedicated case manager to provide insight, clarity and feedback on their business model, and will receive support to navigate their way through FCA processes and understand its rules.

GSTechnologies and Pinsent Masons LLP have partnered to apply for the FCA Regulatory Sandbox. The application is for a stablecoin product called GS Money. GS Money is a stablecoin that is pegged to the British pound sterling. It is designed to be used for payments and other financial transactions.

The FCA Regulatory Sandbox is a program that allows firms to test innovative products and services in a controlled environment. The program provides firms with access to regulatory expertise and support, as well as the opportunity to test their products and services with real consumers.

The application for GS Money is still pending with the FCA. The FCA has not yet made a decision on whether to approve the application.

⭐If the application is approved, GSMoney would be the first stablecoin to be tested in the FCA Regulatory Sandbox. This would be a significant milestone for the development of stablecoins in the UK.⭐

Here are some of the reasons why GSTechnologies and Pinsent Masons LLP are confident in their application:

⭐GS Money is a well-designed product that meets the FCA's regulatory requirements.

⭐GSMoney has a strong team of experienced professionals who are committed to its success.

⭐GSMoney has strong relationships with the FCA and other regulators.

⭐GSMoney has a clear roadmap for testing and commercialisation.

If the application is approved, GSMoney would be a significant step forward for the development of stablecoins in the UK. It would provide a safe and regulated environment for businesses to test and develop stablecoin products. It would also help to raise awareness of stablecoins among consumers and businesses.⭐

Pinsent Masons LLP has had a successful track record with their applications for the FCA sandbox. Of the 18 firms that have been accepted into the 2023 cohort, Pinsent Masons LLP has been involved with 3 of them. These firms are:

⭐ClearBank - A clearing bank that provides payment services to other financial institutions.

⭐Everledger - A company that uses blockchain technology to track the provenance of diamonds.

⭐Tide - A digital banking platform that provides current accounts and other banking services to businesses.

In addition to these 3 firms, Pinsent Masons LLP has also been involved with a number of other firms that have applied for the FCA sandbox but have not yet been accepted. These firms include:

⭐Aquis Exchange - A financial exchange that provides trading services for a variety of financial instruments.

⭐FNZ - A financial technology company that provides software and services to financial institutions.

⭐R3 - A consortium of financial institutions that is developing a distributed ledger technology platform for financial services.

Pinsent Masons LLP's success with the FCA sandbox is a testament to their expertise in fintech law and their commitment to helping clients innovate in the financial services sector.

Here are some of the factors that may have contributed to Pinsent Masons LLP's success with the FCA sandbox:

⭐Their deep understanding of the FCA's regulatory requirements.

⭐Their ability to identify and mitigate regulatory risks.

⭐Their strong relationships with the FCA.

⭐Their track record of success in helping clients innovate in the financial services sector.

If you are considering applying for the FCA sandbox, Pinsent Masons LLP can provide you with the legal and regulatory expertise you need to increase your chances of success.