The first consequences from the FCA ban on crypto derivatives trading in the UK are evident for the popular digital asset exchange Bybit. The company announced earlier that it will suspend its services to all customers based in the United Kingdom. Established in 2018, Bybit is a cryptocurrency exchange headquartered in Singapore with a reported...Read More
The former CEO of the London Stock Exchange Group, Xavier Rolet, has advised the UK government to look into cryptocurrencies and SPACs to minimize the adverse impact of Brexit. In a recent report, Rolet claimed that the UK has trailed behind other countries in both aspects. The UK Should Turn To Crypto And SPACs? Born...Read More
The narrative that bitcoin is rarely used for payment transactions has been debunked by several fields in the span of a week. Apart from Swiss residents being able to pay their canton taxes in BTC or Portuguese citizens paying their electricity bills, a UK-headquartered private jet charter company said that nearly 20% of its yearly...Read More
A 19-year old UK resident was jailed for a drug trafficking operation. He had participated in an attempt to import ecstasy bought with Bitcoin on the Dark Web. Buying Dark Web Ecstasy with Bitcoin The 19-year-old drug dealer is to serve two years in prison after a police investigation discovered he has been dealing with...Read More
Amid the recent warnings issued by the UK Financial Conduct Authority on crypto scams, the giant asset manager Ruffer Investment has defended its decision to allocate about 2.5% of its portfolio in BTC. The UK-based company with over $27 billion AUM said that bitcoin’s adoption is still early as most investors are “desperate” for alternative...Read More
The largest US-based cryptocurrency exchange Coinbase has issued a formal apology for users in the UK and the EU region. The company acknowledged that its services have been unstable because of the high number of new registrations and the latest regulatory requirements. More Users Led To Problems On Coinbase Coinbase users located in the UK...Read More
The 100 BTC kidnapping case in the Indian state of Karnataka continues to develop as the local police have arrested another suspect on the case. Reports say he was the one who abducted the kid in front of his home after being recruited by the mastermind of the entire operation. Progress On A 100 BTC...Read More
Ruffer Investment, a London-based asset manager with $27 billion in AUM, is the latest large company to purchase a considerable amount of bitcoin. The company has allocated 2.5% of the portfolio of one of its funds, translating into a purchase of about $15 million worth of BTC. UK Asset Manager Replaces Gold With BTC The...Read More
A 27-year old British citizen had appeared before a local court because of allegations that he had used Bitcoin to send money to help ISIS members escape Syrian prison camps. The man, Hisham Chaudhary, has reportedly been a member of the Islamic State for over four years. Terrorist Prison Breaks Funded By Bitcoin According to...Read More
Ripple has expressed dissatisfaction over the regulatory uncertainty surrounding cryptocurrencies in the United States. Apart from this, the San Francisco-based firm has also decided to act. By moving out of its home turf. But where will Ripple move next? Here are the relocation options. Ripple’s Asia Options: Japan, Singapore & the United Arab Emirates When...Read More
Russian billionaire and owner of two giant UK newspapers Alexander Lebedev is looking into launching his own DeFi project. Dubbed The Independent Decentralized Financial Ecosystem (or bank 2.0), it aims to serve as a better performing bank, which benefits all participants. Lebedev Explains The Current Banking Problems Lebedev, the owner of the UK-based London Evening...Read More
Before implementing the ban on cryptocurrency derivatives sales in the UK for retail investors, the FCA asked over 500 firms, trade bodies, and competent authorities on their opinion. Interestingly, the results decisively concluded that 97% of all participants didn’t agree with the prohibition. 97% Oppose The FCA Crypto Derivatives Ban UK’s watchdog, the Financial Conduct...Read More
The United Kingdom Financial Conduct Authority plans to ban cryptocurrency derivatives and exchange-traded notes (ETNs) to retail customers from January 6th, 2021. The FCA statement described such products as “ill-suited for retail customers due to the harm they pose.” The regulator outlined that retail customers are unable to determine a reliable value because of several...Read More
A recent study compiled with government authorities and regulators concluded that they still view the cryptocurrency industry as a significant risk source. Those establishments raised concerns regarding the field’s self-regulation and the number of illegal activities funded by digital assets. Unsurprising: Regulators Worried About Crypto Regulations The UK’s oldest defense and security think tank, the...Read More
Cryptocurrency exchange Coinbase UK will disclose customer data to the HMRC (or Her Majesty’s Revenue and Customs) which is the UK’s tax authority, in response to the British tax authority’s legal notice, according to a crypto tax alert published on twitter. 🚨 UK Crypto Twitter: Coinbase is providing information about your accounts to the HMRC. This...Read More
The UK Financial Conduct Authority, responsible for financial regulations in the country, is looking to introduce further legislation that includes cryptocurrency firms. Such companies operating on the island may need to submit annual reports on how they deal with financial threats and crimes. UK FCA Explores Further Crypto Regulations In its latest consultation report, the...Read More
The UK Financial Conduct Authority has granted operational licenses to two cryptocurrency exchanges. Those are the UK-based digital security exchange Archax and the UK branch of the Winklevoss twins’ Gemini. Archax Regulated By The FCA As announced yesterday, the UK Archax platform became the “first-ever FCA regulated digital securities exchange and custodian” in the country....Read More
The UK Metropolitan Police Service (MPS) has arrested a 35-year old woman and seized over $150,000 worth of Bitcoin as part of an investigation into fraudulent applications for government-backed loans for businesses affected by the COVID-19 pandemic. MPS Seized $150K Worth Of BTC The MPS (or Met) announced that the Proactive Money Laundering Team had...Read More
The UK’s HM Treasury, who acts as the ministry of economy and finance, said it might give the Financial Conduct Authority (FCA) a free hand to monitor advertisements issued by unauthorized firms, including those related to cryptocurrency. HM Treasury Proposes that FCA Supervise Cryptocurrency Promotions As of today, finance companies that are not under the...Read More
Because of the increasing interest and growing adoption rates towards digital assets, Mastercard announced the expansion of its cryptocurrency initiative called Accelerate program. UK-based payment processor Wirex has become the first digital asset native member of the program, and Mastercard is inviting other cryptocurrency projects to join the growing network. Mastercard Welcomes Crypto Projects According...Read More
Kraken’s London-based subsidiary, Crypto Facilities, has reportedly become the first firm to get a trading license from the UK regulator, the Financial Conduct Authority (FCA). Kraken’s Crypto Facilities Becomes First in Europe With Trading License According to Financial News on Monday (July 6, 2020), the Multilateral Trading Facility (MTF) license will enable the crypto futures...Read More
In its most comprehensive report on cryptocurrencies to date, the UK Financial Conduct Authority (FCA) outlined that they have increased in popularity and ownership since 2018, with up to 2.6 million people on the island holding digital assets. The UK Watchdogs Advance On Crypto According to the report from the FCA published earlier this week,...Read More
The e-money payment platform has announced some core changes in its managing board. The leadership shift came up with a new CEO and Chief Financial Officer (CFO). Change of Places Though not so much of a significant change in the manner of adding new people to its company’s leading positions, TenX has made an important...Read More
The UK Financial Conduct Authority (FCA) has allowed Wirecard UK to resume payment services. Consequently, the companies handling cryptocurrency debit cards resumed their issuance. Wirecard UK Resumes Regulated Activity Following the missing $2.1 billion of company funds and Wirecard filing for insolvency, the UK FCA, which authorizes and supervises its subsidiary Wirecard Card Solutions, suspended...Read More
Following the drama with Wirecard, the UK Financial Conduct Authority (FCA) has suspended its subsidiary Wirecard Card Solutions to conduct any regulated activities. Since Wirecard Card Solutions issue cryptocurrency debit cards for TenX and Crypto.com, both companies published statements ensuring that customers’ funds are safe, but some operations could be affected. UK FCA Suspends Wirecard...Read More
€100 million Venture Capital fund focused on blockchain investments called Meta Change Capital (MCC) was launched today. The London-based V.C. fund will focus on investing in the blockchain sector, primarily in underdeveloped markets. €100M V.C. Fund To Invest In Blockchain The people behind the V.C. fund are Nikola Stojanow and Luka Sucic. Stojanow is an...Read More
The US-based cryptocurrency exchange Coinbase has extended its staking services for Tezos (XTZ) to users from a few European countries. The price of the asset has increased by nearly 6% since the announcement yesterday. Europeans To Stake XTZ On Coinbase As CryptoPotato reported before, Coinbase added Tezos staking in late 2019 for users based in...Read More
In today’s headlines, the London Football Exchange (LFE) has recently announced its participation in a deal to acquire the Perth Glory Football Club (PGFC), 2019/2020 participants in the Australian Hyundai A-League Premiers, as well as the Asian Champions League. According to the recently announced Asset Sale and Purchase Agreement, the LFE has acquired the majority...Read More
As the country officially left the European Union (EU) on January 31st, 2020, the UK has also taken steps to become more cryptocurrency-friendly. It has amended existing regulations to reduce the registration fees for crypto-related businesses. Encouraging Small Cryptocurrency Firms The UK Financial Conduct Authority (FCA), in a newly released document, has restructured the registration...Read More
The United Kingdom is clamping down on crypto tax evasion through a new bounty program. | Image: shutterstock.com The U.K’s taxman clamps down on tax evasion and money laundering. HMRC offers $130,000 for anyone who can trace BTC, ETH, and an array of privacy coins. Will the UK become the next crypto hub? The U.K.’s...Read More
