Payment Platforms

UK

2026-10-08 18:18:04

UK sanctions three crypto exchanges and two payment platforms over alleged Russia sanctions evasion

The UK government has imposed sanctions on three cryptocurrency exchange platforms, two payment platforms, and one individual, alleging that they helped Russia evade international restrictions and supported funding for its war in Ukraine. The move was part of a broader package of 38 measures announced on Oct. 8. According to the report cited by Techub News, the wider sanctions package also targeted the financial services sector, oil revenue, and related suppliers. The action places crypto and payment infrastructure alongside more traditional sectors in the latest round of UK restrictions. Crypto.news was cited as the source for the report.

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Hong Kong

2026-10-08 11:59:02

Hong Kong says it may take enforcement action against unlicensed payment platforms

Hong Kong authorities said they may take enforcement action, as needed, against some payment platforms that are registered only as fintech companies and do not hold any financial license. Acting Secretary for Financial Services and the Treasury Joseph Chan said any action would be taken under the city’s statutory regulatory framework to help maintain financial stability and protect customers and the public. Under Hong Kong’s Payment Systems and Stored Value Facilities Ordinance, issuing or operating a stored value facility in Hong Kong without a license is illegal unless a statutory exemption applies. Chan added that when suspected unlicensed operations or other violations of the ordinance are identified, the Hong Kong Monetary Authority will step in directly. Depending on the nature of the case, it may also work with other relevant regulators and, when necessary, refer the matter to law enforcement agencies.

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Hong Kong

2026-10-08 11:53:01

Hong Kong says it may take enforcement action against unlicensed payment platforms

Hong Kong authorities said they may take enforcement action against payment platforms that are registered only as fintech companies but do not hold any financial-sector license. Chan Ho-lim, Acting Secretary for Financial Services and the Treasury, said action would be taken as needed under the city’s statutory regulatory framework to maintain financial stability and protect customers and the public. Under Hong Kong’s Payment Systems and Stored Value Facilities Ordinance, issuing or operating a stored value facility in Hong Kong without a license is illegal unless a statutory exemption applies. Chan said that when suspected cases of unlicensed operations or other breaches of the ordinance are identified, the Hong Kong Monetary Authority will step in directly. He added that the HKMA may also work with other relevant regulators depending on the nature of the case, and refer matters to law enforcement agencies when necessary. The report was cited by Odaily and attributed to Mobile Payment Network.

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Hong Kong

2026-10-08 01:11:42

Hong Kong says 16 complaints over suspected unlicensed stored-value payment activity led to one substantiated case

Hong Kong lawmakers raised questions on Oct. 7 over how the city regulates emerging payment platforms, including aggregator services that approach small merchants with low fees and buy now, pay later offerings. In a written reply to legislator Chan Chun-ying, Acting Secretary for Financial Services and the Treasury Joseph Chan said the government and financial regulators are continuing to monitor new payment models and take enforcement action within the statutory framework. According to the reply, after consulting the Hong Kong Monetary Authority and the Customs and Excise Department, the HKMA received 16 complaints between January 2024 and September 2026 involving suspected unlicensed issuance or operation of stored value facilities. After investigation, one case was substantiated. The complainant in that case did not report any financial loss, and the HKMA is following up with the company involved. The reply also set out the licensing boundaries for several business models. Stored value facilities are regulated under the Payment Systems and Stored Value Facilities Ordinance. Money service operators handling currency exchange and cross-border remittances must obtain a licence from Customs unless exempted. Non-bank institutions offering buy now, pay later services that involve lending activities must obtain a money lenders licence under the Money Lenders Ordinance.

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Hong Kong reg

2026-10-09 02:29:55

Hong Kong signals action on unlicensed payment platforms as Polymarket adds fees on geopolitical markets

Crypto markets on Oct. 9 were shaped by a mix of price declines, regulatory signals, product updates and funding news. Among the top 10 tokens by CEX trading volume, BTC fell 1.58%, ETH dropped 3.85%, SOL lost 5.94%, and NEAR posted the steepest decline at 13.55%. On OKX’s 24-hour gainers list, STRK led with a 22.14% rise, followed by ASP and SKL. GMGN’s most-watched on-chain meme tokens included DARK, TikTok and TWEETCRAFT on Solana, along with Knight Kitten and Datacenter on BSC. On the policy front, Hong Kong’s acting secretary for financial services and the treasury, Christopher Hui, said authorities may take appropriate enforcement action under the statutory regulatory framework against some payment platforms registered only as fintech companies without any financial licenses. In prediction markets, Polymarket has started charging fees on market orders for geopolitical event contracts, while limit orders remain free; its documentation has not yet reflected the change and still shows the fee parameter for that category at zero. Other developments included fresh U.S. jobless claims at 197,000 for the week ended Oct. 3, below the 200,000 consensus; an SFC report showing Hong Kong virtual asset trading commission income fell 13.5% half-on-half; TRON’s plan to launch tokenized stocks in the fourth quarter; and new funding rounds for Manus, Catalyst, Rein Security and Meanwhile.

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Dogecoin

2026-06-01 15:00:50

House of Doge Partners with Paxos to Integrate Dogecoin into Enterprise-Grade Crypto Brokerage and Custody Network

House of Doge, a Dogecoin-affiliated organization, announced a partnership with regulated stablecoin and crypto infrastructure provider Paxos to integrate Dogecoin into its enterprise-grade crypto brokerage and custody network. Paxos, which serves as the underlying blockchain infrastructure for PayPal, Venmo, and Mercado Libre, will initially focus on enterprise clients, aiming to accelerate global compliant access for Dogecoin.

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