Regulation
United Kingdom
FCA Increases Scrutiny of Annex 1 Firms Over Financial Crime Risks
The UK Financial Conduct Authority is intensifying its oversight of Annex 1 firms, including unregulated lenders and financial intermediaries, due to concerns about financial crime risks. The FCA is requiring these firms to demonstrate robust anti-money laundering controls and has contacted around 900 firms for detailed information. Registration applications are expected to face longer processing times as part of this crackdown.
Regulation
United Kingdom
FCA Implements New Rules to Reduce UK Firms’ Transaction Reporting Costs by Over £100m Annually
The UK Financial Conduct Authority has finalized rules to streamline transaction reporting, aiming to save firms more than £100 million per year. Key changes include reducing reporting fields, removing certain instruments from requirements, and shortening the error correction period. The new regime takes effect in April 2028, with a flexible approach for early adopters. The FCA will continue to coordinate with other regulators on harmonization.
Platform Update
Regulation
Tokenized
Europe
ECB Sets September 2026 Launch for Pontes Distributed Ledger Platform for Tokenized Assets
The European Central Bank will launch its Pontes distributed ledger platform for tokenized assets on 21 September 2026. The initiative aims to support digital capital markets in Europe, enabling settlement in central bank money and involving operators like Clearstream, SWIAT, Cashlink, and Axiology. The project includes both short-term and long-term tracks to foster innovation and integration in digital finance.
Regulation
Tokenized
USA
GENIUS Act Proposes Stablecoin Regulation to Support US Dollar and Treasury Demand
The GENIUS Act, currently under consideration in the US, would require stablecoin issuers to hold dollars or risk-free dollar-based assets such as US Treasuries. This legislation aims to increase demand for US Treasuries and reinforce the dollar's global dominance. Lawmakers argue the bill could lower borrowing costs and benefit the US economy.
Regulation
Platform Update
Startups
Equity
USA
SEC Alleges Fraud at Netcapital; Only Three Reg CF Offerings Successfully Funded
The SEC has accused Netcapital of inflating consulting revenue by $14 million, impacting its reported financials and fundraising. Kingscrowd reports that only three of eleven Reg CF offerings on Netcapital actually closed, raising a total of $78,740. Most offerings failed, and Kingscrowd flagged some as potentially fraudulent. Retail investor losses were limited due to low participation.
Platform Update
Regulation
Market Data
SME
Oman’s Crowdfunding Platforms Triple Funding Volumes, Support SMEs Amid Regulatory Growth
Crowdfunding platforms in Oman raised OMR19 million in 2025, up from OMR5.9 million in 2024, funding 243 projects. The sector has grown rapidly since 2022, with seven platforms active in 2025 and regulatory oversight from the FSA and Central Bank. Alternative lending is helping bridge the SME funding gap, with both conventional and Sharia-compliant options expanding.
Regulation
Platform Update
Market Data
Personal loans
P2P lending
Vietnam’s Data Protection Law Reshapes Digital and P2P Lending Market
Vietnam's Personal Data Protection Law and related decrees, effective since January 2026, are significantly altering how digital lenders and P2P platforms assess borrowers. The new regulations require stricter data handling and compliance, impacting credit scoring and access for thin-file borrowers. Market reports highlight the evolving regulatory landscape and its influence on lending practices and platform operations.
Regulation
Startups
Tokenized
USA
North America
SEC Proposes Regulation Crypto Asset Exemption Modeled on Reg A and Reg CF
The SEC has proposed new rules introducing Regulation Crypto Asset (Reg CA), offering exemptions for crypto asset fundraising. Reg CA is modeled after existing Reg A and Reg CF exemptions, with specific limits and requirements for startups and larger offerings. The proposal outlines reporting obligations and removes resale restrictions. Existing crowdfunding platforms are expected to adopt these exemptions.
Regulation
Debt
Africa
Egypt Approves Regulatory Framework for Tax-Backed Sukuk to Diversify State Funding
Egypt is set to introduce tax-backed sukuk for public and private companies in the 2026–2027 fiscal year, following presidential approval. The Ministry of Finance will soon release regulatory rules for these securities, which allow companies to invest surplus cash and offset yields against future tax liabilities. The initiative aims to ease debt pressures and diversify funding sources for the government.
Regulation
Platform Update
SME
Tokenized
Brazil
Brazil’s CVM Proposes Easing Rules for Tokenized Debt Crowdfunding Platforms
Brazil's Securities and Exchange Commission (CVM) is considering reforms to ease requirements for tokenized debt crowdfunding under Resolution 88. The changes would broaden eligible issuers, raise fundraising caps, and introduce exemptions from traditional securitization rules. The proposal also aims to expand secondary trading and allow distribution through brokerages. The new regulation is expected later this year.
Regulation
Finland
Finland Raises Gift Tax Reporting Threshold for Crowdfunding Contributions
The Finnish Tax Administration has updated its guidance on the taxation of individuals funding crowdfunding campaigns. The gift value threshold requiring a tax return has increased from €5,000 to €7,500, with cumulative gifts from the same donor over three years also considered. The update includes revised legislative references and links to relevant regulatory resources.
Regulation
Mini-bonds
United Kingdom
UK FCA Issues Warning on Risks of Mini-Bonds and Loan Notes for Investors
The UK Financial Conduct Authority has issued a warning to investors about the risks associated with mini-bonds and loan notes. The regulator highlights that these investments promise principal and interest returns but carry significant risk if the issuing firm fails. The warning aims to increase investor awareness of potential losses in these products.