According to discussion documents issued by the two organizations on Monday, the Financial Conduct Authority (FCA) will manage the broader crypto industry, while the Bank of England (BOE) will control “systemic stablecoins” that are in widespread circulation and might disrupt the economy. The suggestions followed the U.K. government’s publication last
The UK government has updated its intentions to regulate stablecoins backed by fiat currency. The paper was released on October 30 with the intent of easing and regulating the usage of fiat-backed stablecoins in UK payment networks. The paper states that in 2024, His Majesty’s Treasury plans to present explicit
The Financial Conduct Authority (FCA), the United Kingdom’s highest financial regulator, issued a warning list to many prominent cryptocurrency exchanges on Sunday, October 8 for advertising their services without the necessary authorization. As of October 8th, the United Kingdom’s financial promotion legislation now includes crypto asset service providers worldwide. All
British regulators have given their stamp of approval to Komainu, a cryptocurrency custody service founded by crypto investment firm CoinShares, hardware wallet manufacturer Ledger, and Japanese investment bank Nomura. On October 6th, the firm stated that it has been granted registration as a custodial wallet provider by the U.K. Financial
The London Stock Exchange (LSE) Group has shared that it is planning to introduce a blockchain-based platform to offer traditional financial assets as a part of its digital business plans. This will make it the first exchange to host traditional finance on the digital asset platform. On September 4, the
Online payment giant PayPal is making changes to its platform in the UK so that it is in line with local financial legislation. In order to comply with new rules, PayPal notified on August 16 that it is temporarily halting the capacity for its U.K. clients to acquire cryptocurrencies. A
The National Crime Agency (NCA) of the UK is looking to hire four senior investigators to join its Complex Financial Crime Team and look into offenses involving digital assets. The job entails looking into organized criminal organizations’ use of blockchain technology for things like high-end crypto fraud and money laundering.
Robinhood is preparing to expand internationally in order to gain customers in the UK. According to Bloomberg, as a direct result, the US stock trading app has recruited a key executive from the British fintech business Freetrade. On Tuesday, it was reported that Jordan Dane Sinclair has been appointed CEO
On July 20, a British court accepted an appeal and allowed Craig Wright the ability to present evidence in court to support his claim that the Bitcoin file format is sufficiently well-defined to be protected by copyright. Wright, who has claimed to be Bitcoin’s creator since 2016, filed a lawsuit
The United Kingdom’s HM Treasury “firmly disagrees” with a suggestion by the House of Commons Treasury Committee to label cryptocurrency trading as gambling. In May of 2023, a cross-party Committee of MPs recommended the new legislation. In its formal report, the Committee noted that crypto assets had “no intrinsic value”
