Tag: UK

According to a report from the Big Innovation Centre, DAG Global, and Deep Knowledge Analytics, Britain has all the necessary resources, the government support, and the industrial will to lead the cryptocurrency and blockchain movement in the next few years. Britain has been quite progressive in 2018 when it comes to the cryptocurrency industry. Not only are they investing heavily…

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Recognizing the inherent potentials of distributed ledger technology (DLT), Eddie Hughes, a UK legislator and member of the Conservative Party, has called for the establishment of an office of the chief blockchain administrator, citing it as good leverage for accelerating the mode of governance. The Need for Transparent Governance Per a City A.M. report, the lawmaker has claimed that the…

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Ripple came under attack during a UK Parliamentary hearing in the UK that discussed cryptocurrencies and blockchain technology on May 1. Ripple Under the Spotlight The attacks didn’t come from members of Parliament, but rather Martin Walker and FT Alphaville editor Izabella Kaminska who spoke before the Treasury Committee. The pair also submitted written evidence saying that within the crypto…

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British energy giant Centrica announced April 30, 2018, that it plans to “deploy blockchain technology as part of Local Energy Market trial in Cornwall.” The platform, named Exergy, will enable small consumers and businesses to trade electricity with each other depending on need. Blockchain to Disrupt Traditional Energy Model The pilot project, to be implemented in partnership with LO3 Energy,…

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The Financial Conduct Authority (FCA) released a statement on April 6, 2018, which mentioned that any firm that offers cryptocurrency derivatives needs to be authorized by the FCA. While the FCA does not regulate cryptocurrencies, cryptocurrency derivatives are, however, “capable of being financial instruments under the Markets in Financial Instruments Directive II (MIFD II), although we do not consider cryptocurrencies…

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Jon Matonis, co-founder of Bitcoin Foundation, has dismissed the negative investor sentiment that the crypto market is a bubble about to pop. Instead, Matonis stated that the fixed income bonds and equity markets around the world which are being inflated artificially by central banks, thus working as an unofficial syndicate. Media Rings Bubble Bells It must be noted that not…

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Days after the UK government announced the establishment of a crypto task force, the City’s Minister John Glen has said that the city could host a “flourishing” crypto exchange if the right level of regulation is found. At the Treasury International FinTech Conference, the minister gave a speech that recognized the importance of establishing the appropriate regulation that would minimize…

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Across the world, there have been scrambles taking place by the authorities to get comprehensive regulations and oversight controls in place for the digital currency sector. Announced March 22, the UK will set up a cryptocurrency ‘task force.’ A number of regulatory agencies were caught on the back foot with the explosion in growth of cryptocurrency during 2017. They are…

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Cryptocurrency exchange and wallet service provider Coinbase has bagged an e-money license from the UK’s Financial Conduct Authority (FCA). The new development was revealed by Zeeshan Feroz, the chief executive of the company’s UK division. Feroz explained in in a blog post on March 14 that the new license only covers the company’s fiat activities and not its cryptocurrency transactions….

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Kaini Industries, the company behind Hullcoin, has revealed plans to develop a new cryptocurrency that will be linked to the Hull’s community voucher Hullcoin through the use of smart contract technology. Launched in 2014, Hullcoin is described as the “world’s first community loyalty point.” The token has no intrinsic value but can be used to redeem vouchers and discounts in…

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