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Blockchain Life 2020

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DeFi Project Aave (LEND) Locks in $1.4 Billion in Crypto, U.K. Money License Granted

August 25, 2020 by Shaurya Malwa at Altcoins

The rise of decentralized finance (DeFi) applications received a boost yesterday after an influential project, Aave, gained a license to operate in the UK. The move came as Aave locked over $1.4 billion in cryptocurrencies staked on its platform. Aave Makes the History Books DeFi credit market project Aave now...

U.K. Authorities Seek to Regulate Bitcoin Related Adverts

July 21, 2020 by Ogwu Osaemezu Emmanuel at Regulation

Her Majesty’s Treasury (HMT), in collaboration with the government of the United Kingdom, has put up a proposal that seeks to give the country’s financial watchdog, the Financial Conduct Authority (FCA), the power to regulate some crypto-related advertisements in the region. The primary objective of the move is to promote...

UK Regulator Approves Kraken-Owned Cryptocurrency Derivatives Platform

July 6, 2020 by Aisshwarya Tiwari at Regulation

Crypto exchange Kraken’s UK-based subsidiary – Crypto Facilities – has bagged the coveted Multilateral Trading Facility (MTF) license from the UK financial watchdog, the Financial Conduct Authority (FCA). First Crypto Firm to Obtain the MTF License In a first, Crypto Facilities, also known as Kraken Futures, a subsidiary of one...

UK: FCA Suspends Wirecard Subsidiary Responsible for Issuing Crypto Debit Cards

June 26, 2020 by Aisshwarya Tiwari at Regulation

The UK financial watchdog – the Financial Conduct Authority (FCA) – today announced that it had suspended troubled payment processor Wirecard’s subsidiary, Wirecard Card Solutions (WCS), which was responsible for issuing Visa crypto debit cards. Consumer Protection the Top Priority The spectacular fall of the German payment processing firm Wirecard has sent...

Crypto Startups Operating in the U.K. Get June 30 Registration Deadline

June 22, 2020 by Ogwu Osaemezu Emmanuel at Regulation

The Financial Conduct Authority (FCA), the United Kingdom’s financial watchdog has reminded all Bitcoin (BTC)-linked businesses to send in their applications for registration before June 30, 2020, or risk getting ousted from the region, according to a press release on June 22, 2020. Crypto Firms Must Submit Application Before June...

UK FCA Releases New Rules For Crypto Businesses

February 4, 2020 by Osato Avan-Nomayo at Regulation

The UK’s Financial Watchdog, the Financial Conduct Authority (FCA) has announced its implementation of a new regime to provide a detailed set of rules for crypto businesses in the country. The new FCA handbook proposes different application fees for businesses according to their business size, income, and profit from asset...

U.K. Classifies Cryptocurrencies as Property Under English Law

November 19, 2019 by Osato Avan-Nomayo at Regulation

The U.K. is now the latest jurisdiction to classify cryptocurrencies and virtual assets as property. The Times reports that a legal panel chaired by Sir Geoffrey Vos, Chancellor of the High Court reached the decision which presents significant implications for the legality of cryptocurrencies and blockchain assets in the U.K....

A man standing hand on chin glasses UK FCA ban crypto dervatives who knows

UK Financial Watchdog Urged to Reconsider Banning Crypto-Derivatives by World Federation of Exchanges

October 8, 2019 by Aisshwarya Tiwari at Bitcoin

In an official statement issued on October 7, 2019, the World Federation of Exchanges (WFE) – a global body for exchanges and cryptocurrency trading platforms – asked the U.K.’s Financial Conduct Authority (FCA) to reconsider putting a blanket ban on the sale of crypto derivative products to retail investors. Extending...

Coinbase pointing to UK Bank Welcome back coinbase

Coinbase Reinstates GBP Bank Deposits and Withdrawals

October 4, 2019 by Ogwu Osaemezu Emmanuel at Bitcoin

Coinbase crypto exchange has announced that it has reinstated GBP bank deposits and withdrawals for its United Kingdom-based customers. The exchange has also added full support for a host of popular altcoins including basic attention token (BAT), augur (REP), lumens (XLM), XRP and ZRX, according to a blog post on...

Singapore: MAS Partners JP Morgan to Develop Blockchain-Enabled Payments Network

Former Fed Official Refutes BoE Governor’s Suggestion to End Dollar Dominance

September 26, 2019 by Ashwath Balakrishnan at Bitcoin

Ex Federal Reserve senior official, Simon Potter, has rebutted against Mark Carney's recent suggestion to introduce a digital currency to be used as the global reserve currency for international settlement. According to BNN Bloomberg, Potter believes there are numerous benefits countries receive for using the dollar to settle international trade balances,...

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