Britain's Financial Conduct Authority said late on Monday it would lift restrictions on German payments company Wirecard AG, allowing it to resume operations.
LONDON - Britain’s Financial Conduct Authority said late on Monday it would lift restrictions on German payments company Wirecard AG, allowing it to resume operations.
Several British fintech firms were forced to suspend services following the FCA’s restrictions on Wirecard, leaving hundreds of thousands of accounts blocked.Wirecard said on Saturday it would proceed with business activities after filing for insolvency and an administrator was appointed on Monday. The government said anyone worried about not being able to receive welfare payments should contact its helplines.
But industry forum Emerging Payments Association warned it could take months for others to do the same and urged the FCA to lift its Wirecard freeze as soon as possible.
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