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CATEGORY: uk crypto


UKs FCA provides more guidance on crypto promotion compliance

Author: Cointelegraph by Derek Andersen
United States
Aug 08, 2024 12:00

UKs FCA provides more guidance on crypto promotion compliance

The financial regulator is trying to bring companies offering crypto services into line with requirements that came into force in October.

Xapo Bank debuts interest-bearing Bitcoin, fiat accounts in the UK

Author: Cointelegraph by Savannah Fortis
United States
Aug 06, 2024 12:00

Xapo Bank debuts interest-bearing Bitcoin, fiat accounts in the UK

Xapo Bank enters the UK market and becomes the first in the country to launch interest-bearing Bitcoin and fiat banking accounts.

Slow FCA processing at odds with UK's crypto ambitions  Report

Author: Cointelegraph by Derek Andersen
United States
Aug 31, 2024 12:00

Slow FCA processing at odds with UK's crypto ambitions Report

Crypto firms may want to register somewhere they can receive more prompt attention, law firm warns.

Kraken Custody expands to UK and Australia markets

Author: Cointelegraph by Josh O'Sullivan
United States
Jul 19, 2024 12:00

Kraken Custody expands to UK and Australia markets

Kraken's expansion of its custody services to the UK and Australia marks its first international venture, catering to institutional clients outside the US.

FCA busts suspects in $1.2B illegal crypto asset business

Author: Cointelegraph by Savannah Fortis
United States
Jun 22, 2024 12:00

FCA busts suspects in $1.2B illegal crypto asset business

FCA arrests two suspects involved in a $1.2 billion illegal crypto asset exchange, highlighting the agencys efforts to combat financial crime.

Bitcoin and Ethereum ETPs debut on London Stock Exchange after FCA nod

Author: Cointelegraph by Prashant Jha
United States
May 23, 2024 12:00

Bitcoin and Ethereum ETPs debut on London Stock Exchange after FCA nod

The ETPs will only be available to professional and institutional investors due to the ban on retail customers trading crypto derivatives.

UK Fortifies Crypto Framework To Ensure Market Integrity

Author: Kashif Saleem
Estonia
Mar 04, 2024 02:30

UK Fortifies Crypto Framework To Ensure Market Integrity

In a landmark move, the United Kingdom has strengthened its legal framework to fight financial crimes in the cryptocurrency industry. The Financial Conduct Authority (FCA) which supervises the growing crypto market of the UK will soon be endowed with more authority to tackle illegal activities surrounding digital assets. The Economic Crime and Corporate Transparency Bill, […]

Kraken Gains EMI License: What It Means for UK Crypto Traders, Report

Author: Arslan Tabish
Estonia
Mar 11, 2025 02:30

Kraken Gains EMI License: What It Means for UK Crypto Traders, Report

Kraken has recently been granted an authorization from the FCA to operate as an Electronic Money Institution (EMI). This license enables Kraken to issue the electronic money which would enable the faster and convenient deposits and withdrawal of funds from the platform to the users in United Kingdom. Kraken’s UK Expansion Plans The new authorization […]

May 21, 2023 05:55

UK Lawmakers Call for Crypto Trading to Be Regulated as Gambling

A committee of British lawmakers has recommended regulating crypto trading as gambling. Viewing retail trading of cryptocurrencies as more akin to gambling rather than a financial service, the U.K. Treasury Committee stated that “Cryptocurrencies such as bitcoin have no intrinsic value and serve no useful social purpose, while consuming large amounts of energy and being [...]

The post UK Lawmakers Call for Crypto Trading to Be Regulated as Gambling appeared first on Crypto Breaking News.

UK pushes crypto efforts forward through financial services reforms

Author: Cointelegraph By Ezra Reguerra
United States
Dec 09, 2022 04:40

UK pushes crypto efforts forward through financial services reforms

The reforms include regulating stablecoins as a means of payment and creating a sandbox where firms and regulators can test new financial technologies.

Oct 26, 2022 07:15

BREAKING: The UK Approves Cryptos – Will the Bullrun return?

News surfaced that the UK approves cryptos. How will this affect crypto prices? Will investors jump back into their crypto investments?

Rishi Sunak could be good for UK crypto, Expert says

Author: noreply@blogger.com (Unknown)
United States
Oct 25, 2022 02:50

Rishi Sunak could be good for UK crypto, Expert says

Rishi Sunak as UK Prime Minister could be good news for the crypto sector in the country, says Katie Evans, Global Head of PR and Communications at Swarm Market.

42-year-old Sunak is the new leader of the Conservative Party, and hence the UK’s prime minister. Political and economic observers say the former Chancellor of the Exchequer is set to drive the United Kingdom in a different direction from the economic whirlwind that predecessor Liz Truss had steered towards in her short 45-day reign as premier.

UK prime minister is ‘no crypto hardliner’

Evans, a UK-based financial services and DeFi communications expert, who has over 10 years’ experience in the digital assets, capital and commodities markets, including positions at eToro and London Metal Exchange, believes Sunak’s ascent to 10 Downing Street could help drive further development of crypto in Britain.

Commenting on Sunak’s time as Chancellor of the Exchequer, Evans told Invezz in exclusive comments:

“In his time as Chancellor, his fiscal policies during the COVID pandemic, like the eat-out-to-help-out scheme, were arguably forward thinking so it stands to reason he would boldly support the development of a digital asset economy in the UK. In short, the most important takeaway for the crypto community in the UK right now is that the person in charge of the country is no crypto hardliner, and sees the benefit of the digital assets revolution underway in financial services.”

She also notes that it’s under the new prime minister’s watch that legislation on the Financial Services and Markets (FSM) Bill began. 

The bill encompasses key regulatory frameworks designed to expand regulation beyond stablecoins and align the broader crypto asset class with policies across traditional financial products, something similar to what the German government has pushed over the past three years, Evans added.

“Let us also not forget that he was Chancellor who oversaw the Royal Mint’s announcement to issue its first NFT.”

As reported by Invezz in April this year, Sunak was at the helm of UK treasury when he asked the Royal Mint to create and issue an NFT. HM Treasury noted at the time that the move showed the “forward-looking approach” in regard to crypto assets in the country, and looking back to such suggests Sunak could help advance that approach.

Critical to these expectations could also be down to who joins Sunak’s Government going forward. For instance, its City minister Andrew Griffith who introduced amendments to the UK crypto bill and it would be interesting to see if he will continue in his position.

Other crypto-friendly figures like former Secretary of State for Health and Social Care Matt Hancock getting cabinet positions could be positive news for crypto.

Sunak is the first Hindu to become British prime minister. He is also the youngest person to lead the UK government in close to two centuries.

The post Rishi Sunak could be good for UK crypto, Expert says appeared first on Invezz.



from Cryptocurrency – Invezz

May 05, 2022 12:30

The Ultimate UK Cryptocurrency Tax Guide 2022

With being an almost brand new asset class compared to most, cryptocurrencies quickly crept onto HMRC’s radar in need of taxation advice as the total market cap of all cryptocurrencies exceeded one...

Apr 05, 2022 01:25

Nifty News: UK Royal Mint NFT, $960k Billionaire Dog rug and Pudgy Penguins

The Royal Mint NFT featured in a series of announcements aimed at making the UK a global crypto hub, with officials saying the NFT is “an emblem” of the approach the UK “is determined to take”. The U.K. government Treasury announced on Monday, April 4th, that it has asked the Royal Mint to create one… More

The post Nifty News: UK Royal Mint NFT, $960k Billionaire Dog rug and Pudgy Penguins appeared first on BTC Ethereum Crypto Currency Blog.

Police in the UK Take Back $22 Million in Crypto from Scammers - Now They're Looking for Victims To Return it to...

Author: noreply@blogger.com (Silicon Valley Newsroom)
United States
Feb 23, 2022 04:25

Police in the UK Take Back $22 Million in Crypto from Scammers - Now They're Looking for Victims To Return it to...

The Police department of Manchester, UK has announced that their specialist officers recovered $22.2 million in crypto after finding and taking down a scam operation, where a 23-year-old male and a 25-year-old female were arrested for fraud and money laundering offences.

90% of the assets that were stolen are now recovered...

Once the scammers location was tracked down, detectives went to make the arrests and discovered USB sticks containing "large quantities" of Ethereum, along with additional crypto found in a wallet the criminals were using to earn interest on their stolen coins.

Authorities say those stolen coins came from users all over - United Kingdom, Europe, China, Australia, Hong Kong, and the United States. 

So far, 23 victims have received compensation after authorities verified their claims, while another 127 possible claims are being investigated.

Detectives suspect there are more victims out there who are owed money...

While they did not disclose the exact scam name, they described it as a "fake savings and trading service that ended up being a rug pull" and that it operated on Binance Smart Chain.

They want to return as much as possible to the victims but millions still remain unclaimed. Anyone who has been a victim of similar sounding fraud should contact OpGabbro@gmp.police.uk

Those who lost funds in scam that fits this description and are interested in potentially recouping their losses will be required to provide the name of the service they invested in, as well as wallet addresses and proof of ownership.

"With that comes a new type of crime and we're seeing a rise in opportunist criminals looking to exploit these trends as well as any gaps in the technology that can be manipulated. It's vital that we as a force adapt to what is an emerging type of crime, and demonstrate that there will be repercussions, regardless of the platform this fraudulent activity takes place on." said Detective Chief Inspector Joe Harrop of Greater Manchester Police's Economic Crime Unit.

When it comes to crypto crime, law enforcement is becoming more sophisticated...

Specialized officers who are familiar with digital assets are being trained in police forces around the world, and blockchain intelligence organizations are assisting detectives in following the paper trail.

This is one of several recent wins in the headlines...

The US Justice Department recovered Bitcoin worth $3.6 billion stolen from Bitfinex in 2016 earlier this month, in its largest financial seizure on record.

Such high-profile successes are ultimately a positive for Bitcoin, strengthening institutional investor trust and possibly making criminals reconsider.

----------------
Author: Mark Pippen
London News Desk 
Breaking Crypto News


Subscribe to GCP in a reader

Lose Money In a Crypto Scam? Cops Just Took $22 Million BACK...

Author: noreply@blogger.com (Silicon Valley Newsroom)
United States
Feb 23, 2022 12:45

Lose Money In a Crypto Scam? Cops Just Took $22 Million BACK...

The Police department of Manchester, UK has announced that their specialist officers recovered $22.2 million in crypto after finding and taking down a scam operation, where a 23-year-old male and a 25-year-old female were arrested for fraud and money laundering offences.

90% of the assets that were stolen are now recovered...

Once the scammers location was tracked down, detectives went to make the arrests and discovered USB sticks containing "large quantities" of Ethereum, along with additional crypto found in a wallet the criminals were using to earn interest on their stolen coins.

Authorities say those stolen coins came from users all over - United Kingdom, Europe, China, Australia, Hong Kong, and the United States. 

So far, 23 victims have received compensation after authorities verified their claims, while another 127 possible claims are being investigated.

Detectives suspect there are more victims out there who are owed money...

While they did not disclose the exact scam name, they described it as a "fake savings and trading service that ended up being a rug pull" and that it operated on Binance Smart Chain.

They want to return as much as possible to the victims but millions still remain unclaimed. Anyone who has been a victim of similar sounding fraud should contact OpGabbro@gmp.police.uk

Those who lost funds in scam that fits this description and are interested in potentially recouping their losses will be required to provide the name of the service they invested in, as well as wallet addresses and proof of ownership.

"With that comes a new type of crime and we're seeing a rise in opportunist criminals looking to exploit these trends as well as any gaps in the technology that can be manipulated. It's vital that we as a force adapt to what is an emerging type of crime, and demonstrate that there will be repercussions, regardless of the platform this fraudulent activity takes place on." said Detective Chief Inspector Joe Harrop of Greater Manchester Police's Economic Crime Unit.

When it comes to crypto crime, law enforcement is becoming more sophisticated...

Specialized officers who are familiar with digital assets are being trained in police forces around the world, and blockchain intelligence organizations are assisting detectives in following the paper trail.

This is one of several recent wins in the headlines...

The US Justice Department recovered Bitcoin worth $3.6 billion stolen from Bitfinex in 2016 earlier this month, in its largest financial seizure on record.

Such high-profile successes are ultimately a positive for Bitcoin, strengthening institutional investor trust and possibly making criminals reconsider.

----------------
Author: Mark Pippen
London News Desk 
Breaking Crypto News


Subscribe to GCP in a reader

Crypto Could Become Property Under Proposed UK Law Reform

Author: Kashif Saleem
Estonia
Feb 24, 2024 02:30

Crypto Could Become Property Under Proposed UK Law Reform

England’s Law Commission, an independent body that gives advice to the government on legal reforms in England and Wales, has published a draft bill that would recognize crypto assets as property. It intends to bring more certainty and clarity to the growing digital currencies market and its users. According to the Law Commission, crypto assets […]

Feb 02, 2024 05:50

UK Police Seize 61,000 Bitcoins From Huge Chinese Investment Fraud

The U.K. Metropolitan Police have reportedly seized more than 61,000 bitcoins from a massive Chinese investment fraud. A British citizen is accused of laundering bitcoin for a Chinese fugitive who allegedly stole roughly $6.4 billion from more than 128,000 investors. British Police Seize Over 61,000 Bitcoins The U.K. Metropolitan Police have seized more than 61,000 [...]

The post UK Police Seize 61,000 Bitcoins From Huge Chinese Investment Fraud appeared first on Crypto Breaking News.

Mar 15, 2023 10:35

UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents

Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s [...]

The post UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents appeared first on Crypto Breaking News.

Dec 21, 2024 04:10

Crypto Custody Firm Copper Withdraws UK Crypto License Application

Crypto custody firm Copper Technologies withdrew its application to get a UK crypto license. The news came to light when Bloomberg reported on the companys decision to withdraw its application today. The company stated the reason behind its withdrawal as its shift in priorities of the new CEO.  The companys

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