The UK's Financial Conduct Authority (FCA) has placed restrictions on Larstal Limited, trading as AstroPay. The firm is prohibited from accepting new customer funds, providing payment services, or issuing/redeeming e-money without FCA consent.
AstroPay must also stop onboarding new customers and ensure that all relevant funds are safeguarded. This regulatory action, effective since April 11, is linked to financial difficulties, with the firm reportedly owing over $22 million to creditors. AstroPay is working to resolve the issues and resume normal operations.
