During the corresponding time, Argo Blockchain Plc saw a revenue deteriorated by -94.25 % year on year, While revenue at the Argo Blockchain Plc's corporate clients
Argo Blockchain Plc's Comment on Sales, Marketing and Customers
Companies engaged in cryptocurrency activities, including cloud mining firms offering hashrate to customers, are subject to various regulatory requirements. In New York, virtual currency business activities involving customers in the state require a BitLicense issued by the New York State Department of Financial Services (NYDFS). Louisiana has established licensure regimes for virtual currency business activities, and other states are considering similar regulations. The Conference of State Bank Supervisors has proposed a model statute for state-level cryptocurrency regulation. In Europe and the United Kingdom, cryptocurrencies such as Bitcoin generally fall outside the scope of financial services regulation, except for compliance with anti-money laundering rules. Cryptocurrency mining activities in the UK currently do not require regulatory authorization. Noncompliance with these regulations may result in fines, penalties, or operational interruptions.
Argo Blockchain Plc’s Comment on Sales, Marketing and Customers
Companies engaged in cryptocurrency activities, including cloud mining firms offering hashrate to customers, are subject to various regulatory requirements. In New York, virtual currency business activities involving customers in the state require a BitLicense issued by the New York State Department of Financial Services (NYDFS). Louisiana has established licensure regimes for virtual currency business activities, and other states are considering similar regulations. The Conference of State Bank Supervisors has proposed a model statute for state-level cryptocurrency regulation. In Europe and the United Kingdom, cryptocurrencies such as Bitcoin generally fall outside the scope of financial services regulation, except for compliance with anti-money laundering rules. Cryptocurrency mining activities in the UK currently do not require regulatory authorization. Noncompliance with these regulations may result in fines, penalties, or operational interruptions.
Sources:
Argo Blockchain Plc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Argo Blockchain Plc’s corporate clients.
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