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The Prudential Regulation Authority (PRA) has asked businesses in the UK to disclose current and future crypto exposures by March 2025, in order to assess financial stability and set policy. The Bank of England’s regulatory division issued the request on Friday, amid a growing number of UK firms embracing crypto. The PRA has also asked firms to explain how they use the Basel framework , which sets standards and minimums for bank capital requirements. “This will inform work across the PRA and the Bank of England on cryptoassets by helping us calibrate our prudential treatment of cryptoasset exposures, [and] analyze the relative costs and benefits of different policy options,” the PRA said. ‘Ave you got a license for that memecoin? UK bans Pump Fun Read more: TikTok accused of operating as crypto exchange in the UK, report Additionally, the PRA requests information on businesses’ use of permissionless blockchains. In the questionnaire that they ha...

Ethereum may experience a drop in user activity alongside ETH price with crypto staking in the crosshairs of the SEC. Ethereum's native token, Ether (ETH), saw its worst daily performance of the year as the U.S. Securities and Exchange Commission (SEC) stopped Kraken, a cryptocurrency exchange, from offering crypto staking services. On Feb. 9, Kraken agreed to pay $30 million to settle the SEC's allegation that it broke securities rules by offering crypto staking services to U.S. retail investors. The news pushed down the prices of many proof-of-stake (PoS) blockchain project tokens, in particular. Ethereum, which switched to a staking-based protocol in September 2022, also suffered as a result. On Feb. 9, ETH's price plunged nearly 6.5% to around $1,525, the largest single-day decline since Dec. 16 of last year. ETH/USD daily price chart. Source: TradingView.com Will Ethereum staking survive the SEC crackdown? The SEC's crackdown on crypto Staking begins as Ethereum...