The leading British financial markets infrastructure – London Stock Exchange Group – will acquire the trading tech solutions provider TORA for $325 million. The initiative aims to strengthen LSEG’s presence in the cryptocurrency sector. London Stock Exchange Dives Deeper According to a recent announcement, the London Stock Exchange Group will pay $325 million in an...Read More
HM Revenue and Customs (HMRC) has reportedly seized three non-fungible tokens (NFTs) in a crackdown on suspected activity to hide money. Apart from confiscating the assets, law enforcement arrested three people alleged of the crime. The First NFT Seizure As reported by Reuters, the British tax authorities investigated a $1.9 million financial scheme. The operation...Read More
Matt Hancock, a Conservative Party MP in the UK parliament, said Britain could create a “dynamic” regulatory environment for cryptocurrencies rather than follow the EU’s restrictive policies. He noted that this is possible because of Brexit, which offers the country an opportunity to benefit from crypto innovations. “We now don’t have to just take the...Read More
UK-based blockchain company Millicent has received government funding in the form of a UK Research, and Innovation (UKRI) Innovate UK Smart Award. The project aims to assist in the nation’s strives to launch a central bank digital currency. Millicent’s UK Funding Based in London, England, Millicent is a blockchain-powered firm promising to rewrite “the code...Read More
International sports betting and gambling company – Entain – plans to invest $133 million to establish a global innovation lab focused on entertainment experiences in the Metaverse. Specifically, the company intends to fund start-ups and develop applications for non-fungible tokens (NFTs). Entain Diving in The Metaverse In a recent interview for CNBC, Entain’s Chief Executive...Read More
An anonymous UK resident reportedly parted with nearly $200,000 of his savings after a woman he messaged in a dating app conned him. The man admitted he felt so desperate after the scam that he considered taking his life. ‘In The Blink of an Eye, Everything Was Gone’ According to a recent coverage by BBC,...Read More
The Financial Conduct Authority (FCA) – the top monetary regulator in the United Kingdom – proposed to tighten the rules on how high-risk investments such as digital assets are advertised. The watchdog said companies should not be able to promote cryptocurrencies to people who lack financial knowledge and experience. The UK Strengthens its Stance The...Read More
The London-based venture capital company Blossom Capital raised $432 million to invest in early-stage tech startups in Europe. The firm has reserved a third of the proceeds for investments in the cryptocurrency industry. Blossom Capital Eyes the Crypto Universe The cryptocurrency initiative, which the British organization launched, does not come as a surprise since its...Read More
The chancellor of the Exchequer, Rishi Sunak, believes cryptocurrencies have the capacity to provide exciting new opportunities for residents in the United Kingdom. However, some misleading advertisements might be obstacles. Crypto Offers New Opportunities According to Sunak, cryptocurrencies offer people new ways to transact and profit through investments in the relatively new asset class. The...Read More
The United Kingdom government backed Hedera and Neuron Innovation as the duo conducted a trial on the drone data collation and storage using a public ledger consensus. Hedera Network Used to Track Drones Neuron Innovation, a London-based aviation company, has conducted a drone data collection trial sponsored by the government of the United Kingdom. The...Read More
A recent survey revealed that the majority of the UK residents would not support their government if it imposed a crackdown on bitcoin due to environmental reasons. Somewhat expectedly, the elderly were bigger proponents of the move. Not The Best Idea The first ten months of 2021 have been another turbulent period for bitcoin. The...Read More
According to a recent report, Revolut seeks approval from UK’s securities regulator to launch its exchange token. Should the initiative be greenlighted, it will start from Europe and other non-US-based locations. Citing people familiar with the matter, CoinDesk reported earlier that Revolut – a leading fintech firm – wants to release its cryptocurrency token. One...Read More
Global payments giant PayPal disclosed on Friday that its customers in the United Kingdom can now buy, sell, and hold multiple cryptocurrencies, including bitcoin and ether, directly from their accounts. PayPal’s Crypto Services Now Available For UK Users “We are delighted to share that all eligible customers in the UK can now buy, hold, and...Read More
According to recent research, every third British citizen fears that a potential digital pound could bring more harm than benefits to the UK economic system. In contrast, 24% believe the so-called Britcoin would turn to be a successful financial instrument. Britcoin Brings More Suspicion Than Excitement The US journalism company Politico surveyed 2,500 British adults to...Read More
Digital assets continue to grow and take substantial portions of the financial markets, said Seek Capital’s managing director – Adam Proctor. As such, the family office will increase its allocation to it and hire a designated cryptocurrency analyst. By definition, a family office is a privately held company handling investment and wealth management for high-net-worth...Read More
The UK Financial Conduct Authority has settled all of its issues with the world’s largest cryptocurrency exchange – Binance. The regulator published an update on August 25th to clear the company’s name two months after imposing restrictions on some of its operations. Back in late June this year, the FCA issued a warning shot against...Read More
The San Jose-based online payments giant PayPal is launching its cryptocurrency services in the United Kingdom less than a year after the company first introduced the feature in the United States. Eligible customers in the UK will be able to buy, sell, and hold bitcoin and other cryptocurrencies through the PayPal platform beginning this week....Read More
According to a Coinbase research, 51% of British adults said they are “very interested” in taking out a loan using digital asset holdings as a guarantee instead of traditional methods. 39% revealed they are willing to employ cryptocurrencies to send and receive money in international transactions as well. Brits Want to Adopt Crypto for Transactions...Read More
According to recent research conducted by Nickel Digital Asset Management, nearly 75% of institutional investors and wealth managers stated that the security of virtual currencies is a “significant” hurdle stopping many individuals from entering the crypto space. Low Confidence among Institutional Investors The UK-based investment manager – Nickel Digital Asset Management – asked 100 global...Read More
The crypto-friendly digital banking app – Revolut – announced it had raised $800 million in a new funding round led by SoftBank’s Vision Fund and Tiger Global Management. The fundraising turned the company into one of the largest fintech unicorns in Europe, as it is now valued at $33 billion. Revolut Becoming a Super-Unicorn According...Read More
As crypto ownership and interest continue to rise in the UK, the country’s financial watchdog, the Financial Conduct Authority (FCA), is planning to launch a £11m ($15.25 million) marketing campaign to warn young investors about risks associated with crypto investments. FCA Targeting Millennials According to the regulator, the ads, which will be targeted at UK...Read More
With cryptocurrencies taking center stage in the financial industry in recent months, a new survey has revealed that an increasing number of UK residents are considering adding crypto assets to their investment portfolios in the coming months. UK Adults Consider Buying Crypto The research was conducted by Ziglu, a UK-based money app, and cryptocurrency platform....Read More
Nearly half of the UK residents aged between 18 and 29 admitted that their first investment was in digital assets. However, more than 50% of the youngsters used debt to purchase cryptocurrencies. Crypto is Attractive for The Young Britons A recent poll conducted by Opinium for the investment platform Interactive Investor revealed that 45% of...Read More
Despite the most recent downturn in the entire cryptocurrency market, a London-based asset manager is reportedly considering investing in digital assets. According to a report from the Financial Times from today, Marshall Wace, a London-based asset management company with over $55 billion in AUM, considers a foray into the cryptocurrency market. Citing people familiar with...Read More
YESTERDAY, the UK’s Financial Conduct Authority issued a warning to Binance Markets Limited and the Binance Group, making it clear that Binance Markets Limited could not operate in the country as it is currently doing. Binance Markets Limited is not permitted to undertake any regulated activity in the UK. This firm is part of a...Read More
UK authorities have made one of the largest seizures of cryptocurrency assets worth more than $190 million. Specialists detectives from the Met’s Economic Crime Command confiscated the funds after investigations on money laundering. UK Authorities Seize $140M in Crypto According to a press release from the Met’s Economic Crime Command, the local authorities made the...Read More
The latest data revealed that 78% of the UK residents have heard of cryptocurrencies, as 2.3 million of them hold some of them. Nonetheless, the overall understanding of digital assets has declined. More HODLers But Less Crypto Knowledge Digital assets remain a complicated industry in the UK, and the share of people investing in them...Read More
British banks are making it increasingly difficult for their customers to get involved with crypto, citing particular concerns related to security and exposure to fraud. According to a report by the British newspaper The Times, TSB bank is reportedly about to ban its customers from buying crypto with funds managed by the bank. TSB is...Read More
Institutional investors based in the UK and France will be able to receive BTC exposure through a Bitcoin ETP launched by 21Shares. The Swiss organization announced that its exchange-traded product tracking the performance of the largest cryptocurrency will be available on Aquis Exchange. Bitcoin ETP Coming in the UK and France Based in Zug, Switzerland,...Read More
Tom Tugendhat, a member of Parliament of the United Kingdom, urged the nation towards implementing more innovations in its financial sphere. Interestingly, he also outlined the growth of the cryptocurrency sector and hinted he was more bullish on ether rather than bitcoin. UK Member of Parliament Bullish on ETH Tugendhat is a British Conservative Party...Read More
