#UK News

London Block Exchange to Launch British Pound Backed Stablecoin

Digital Pound Foundation Launches to Help With the UK CBDC Project

October 14, 2021 by Anthonia Isichei at Regulation

A group of participants and stakeholders has formed a new body called the Digital Pound Foundation (DPF), an independent organization to support the robust development and design of a UK central bank digital currency (CBDC). New Organization Pushes for Digital Pound The DPF announced the news of the launch on...

Getting the most out of your Bitcoin as market corrections loom

UK Billionaire Simon Nixon to Upraise Investments in Crypto

August 26, 2021 by Wayne Jones at Bitcoin

British Billionaire and co-founder of MoneySupermarket.com, Simon Nixon, intends to increase his investments in cryptocurrencies as the world's ultra-rich embrace digital assets. According to Adam Proctor, a managing director for Nixon's London-based firm Seek Capital, the family office aims to advance its crypto allocation. Crypto Appetite According to the London-based...

U.S. Bank Launches Crypto Custody Service Following Increased Institutional Demand

UK: Nickel Digital Survey Hints at Institutional Adoption of Crypto Assets

August 24, 2021 by Wayne Jones at Blockchain

A survey by Nickel Digital of institutional investors in the UK reveals that more than half of these investors plan to enhance their crypto acquaintance between now and 2023. As revealed by the survey, the institutional investors hinted that they have already invested in crypto assets and anticipate increasing their...

Sportsbet.io Donate Bitcoin to Southampton FC Supporters in First Ever ‘Crypto Fan Fund’

UK: Children’s Charity Gets More than $137,000 Worth of Crypto Donations

July 4, 2021 by Aisshwarya Tiwari at Bitcoin

A UK-based charity has received more than $130,000 worth of crypto donations in the last 12 months alone. Using Crypto for a Noble Cause Newcastle, UK-based charity, the Children’s Heart Unit Fund (CHUF) recently stated it had received north of $130,000 in crypto donations since it launched the initiative almost...

UK: FCA Warns Investors Against 111 Unregistered Crypto Companies

June 23, 2021 by Anthonia Isichei at Regulation

The United Kingdom Financial Conduct Authority (FCA) has issued a warning against over 100 cryptocurrency firms who are operating without license in the U.K. FCA Says FOMO Causing Increased Investment in Crypto According to Reuters on Tuesday (June 22, 2021), the FCA’s head of enforcement and market oversight, Mark Steward,...

BoE says 'stablecoin' payments need same rules as banks

Bank of England Proposes Regulation of Stablecoin Use As Payment Means

June 8, 2021 by Anthonia Isichei at Regulation

The Bank of England (BoE) stated that stablecoin payments should receive the same regulations as bank payments, if the former gains widespread adoption. BoE Says Stablecoin Regulatory Framework Necessary in the UK According to Reuters on Monday (June 7, 2021), the BoE in a Discussion Paper, said that it was...

‘Time to buy’ bitcoin adverts banned in UK for being irresponsible

The U.K. Renders “Time to Buy” Bitcoin Advertisements Misleading

May 26, 2021 by Wayne Jones at Bitcoin

The Advertising Standard Authority, an independent regulatory body in the U.K, banned Luno exchange’s ad encouraging individuals to purchase Bitcoin. According to the watchdog, the posters only urge people to buy the dominant coin but exclude the risks involved in acquiring one. ‘Time to Buy’ Ads The regulator also added...

Gains on Bitcoin Won’t be Taxed in the UK, Thanks to a Loophole

FCA Survey Reveals Younger Investors are Oblivious to Risks Associated With Crypto and Forex Investments

March 24, 2021 by Anthonia Isichei at Regulation

A research conducted by a consulting firm commissioned by the UK Financial Conduct Authority (FCA), showed that younger consumers in the country were involved in high risk investments such as cryptocurrencies. Young Consumers Invest in Crypto for the Thrills According to a press release published by the UK regulator on...

Bitcoin ad banned for 'misleading pensioners'

UK Advertising Regulator Bans Bitcoin Ad Deemed Misleading

March 18, 2021 by Anthonia Isichei at Regulation

The Advertising Standards Authority (ASA), a self-regulatory advertising watchdog in the UK, has banned a bitcoin ad by cryptocurrency exchange, Coinfloor, for misleading a particular target audience. Bitcoin Ad Seen as Misleading and Socially Irresponsible According to an announcement on Wednesday (Mar. 17, 2021), the ASA upheld a complaint brought...

FCA Issues Fresh Crypto Warning to UK Investors

January 11, 2021 by Anthonia Isichei at Regulation

Fresh from enacting its ban on the sale of crypto derivatives to retail traders, the U.K. Financial Conduct Authority (FCA) has issued new warnings about crypto investments to consumers. Meanwhile, commercial banks in the country are adopting a more anti-cryptocurrency stance refusing to accept deposits from virtual currency sources even...

UK Treasury Opens Public Consultation on Crypto and Stablecoin Regulations

January 8, 2021 by Anthonia Isichei at Regulation

The U.K. government is moving forward with its plan to harness the expanding crypto and digital asset market by organizing a public consultation on planned stablecoin and cryptocurrency regulations. The move is part of the U.K.'s economic transformation post-Brexit with an emphasis on leveraging the developing fintech landscape. UK Ponders...

FCA Ban on Retail Crypto Derivatives Trading Will Be in Full Effect Today

January 6, 2021 by Evan Ezquer at Regulation

The Financial Conduct Authority (FCA) ban on crypto products will officially be in full effect today. The authorities had earlier announced the ban around October last year, stating that crypto-based products were not suited for retail customers because they lack a reliable valuation, are prone to price volatility, are known to...

G-7 Countries Discuss Significance of Regulating Crypto Assets

December 8, 2020 by Aisshwarya Tiwari at Regulation

Cryptocurrencies dominated the meeting table during the latest G-7 members meeting. G7 Nations Keen on Adopting Crypto Regulations The tremendous rise of cryptocurrencies, especially bitcoin (BTC) has been one of the few silver linings of an otherwise unfortunate year. Unsurprisingly enough, this popularity of cryptocurrencies is being keenly observed by...

U.K. Classifies Cryptocurrencies as Property Under English Law

UK Authorities Get Serious with Stablecoins, Set to Unveil Regulatory Framework

November 10, 2020 by Ogwu Osaemezu Emmanuel at Regulation

The government of the United Kingdom is making active plans to transform the nation’s financial ecosystem and ultimately make the region a hotbed for innovative businesses. The government says it plans to formulate amenable regulations for stablecoin initiatives and central bank digital currencies (CBDCs), according to a statement November 9,...

LSE-Traded Mode Adopts Bitcoin as Reserve Asset

London Stock Exchange-Listed Company Buys Bitcoin as Reserve Asset

October 21, 2020 by Dalmas Ngetich at Bitcoin

The London Stock Exchange (LSE)-listed company, Mode Global Holdings PLC, is assigning 10 percent of their cash reserves to purchase Bitcoin. This is part of its treasury investment strategy, according to a statement on Oct 21. Mode Banking Joins Square and MicroStrategy The publicly traded Fintech Group now joins the likes of...

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