The UK Financial Conduct Authority (FCA) has imposed a £3.5 million fine on Coinbase's payment subsidiary CB Payments Limited for repeatedly onboarding high-risk clients, marking the regulator's first enforcement action against a crypto-trading enabler. The breaches involved over 13,000 high-risk customers and $226 million in crypto transactions.
The UK Financial Conduct Authority (FCA) has fined Coinbase's payments arm CB Payments Limited £3.5 million ($4.5 million) for repeatedly violating restrictions by onboarding and serving high-risk customers, involving nearly $226 million in crypto transactions over two years.
With just 13 days left until the November 22 deadline, SWIFT confirms no further delay. The US Fedwire has adopted ISO 20022, Europe completes migration, and digital assets like XRP and XLM align with the new standard, reshaping cross-border payments and crypto settlement.
SWIFT sets Nov 22 as final deadline for ISO 20022 migration; global banks rush to upgrade. US Fedwire already adopted; 70+ countries compliant. Crypto assets like XRP, XLM, and HBAR aligned with the standard may see new opportunities.
With only 13 days left before SWIFT’s migration deadline, banks worldwide are accelerating their ISO 20022 upgrades. The new messaging standard could improve cross-border payments and boost attention on crypto networks aligned with institutional settlement infrastructure.
SWIFT has reaffirmed that the November 22 ISO 20022 deadline will not be delayed again, pushing banks worldwide to complete cross-border payments migration. The shift could reshape payment infrastructure, compliance workflows, and digital asset settlement narratives.
SWIFT has reaffirmed that the ISO 20022 migration deadline will not be delayed again, leaving financial institutions 13 days to complete the shift for cross-border payments. The change is reshaping banking and digital asset settlement infrastructure worldwide.
Swift says 97% of payment instructions now use ISO 20022, marking the end of the coexistence period with legacy MT messages. The shift sets the stage for stricter 2026 compliance requirements, especially around structured address data and system upgrades.
