British fraudsters Anthony Ikenwe, Kevin Nwamma, and Hamza Bashir breached the blockchain security measures using human vulnerability. According to The National News, criminals impersonated the identity of police officers to scam eight victims of over £4 million in crypto. Through cold-calling of their victims, these fraudsters convinced them about an
Ripple is supporting the United Kingdom’s strategy that seeks to grow the adoption of tokenization infrastructure within wholesale financial markets. The move came after a recommendation from Chris Woolard, who was appointed as Wholesale Digital Markets Champion in April by HM Treasury. The plan is aimed at taking the financial
The Bank of England announced the final framework for regulating stablecoins and drafted new regulations following extensive consultation with the industry. The new framework is less stringent than previous iterations as per industry concerns about limiting growth in the UK’s nascent stablecoin market. Proposed holding limits that would have prevented
The United Kingdom has recently sanctioned Xinbi, which is a marketplace for various cryptocurrencies. Authorities have associated the marketplace with various scam activities in Southeast Asia. The country has taken action against the marketplace for facilitating fraud networks. It was through transactions involving stolen data, money laundering, and scam services.
The announcement came from the social media site itself, saying they updated the advertising rules to include branded content for crypto. This only applies if the accounts are in official paid partnership programs. Creators get to share promo posts about crypto products, but they have to label them clearly as
The UK government is to unveil its plans for cryptocurrency regulation in response to the fast-evolving industry. Following the victory of Donald Trump in the US presidential election, hailed by the crypto space, the UK faces increased pressure to provide clarity and supportive regulations for digital assets. The UK Treasury
In order to investigate potential applications of digital ledger technology (DLT) in the notary, maintenance, and settlement processes of financial securities, the UK’s financial regulator and the Bank of England (BoE), has established a sandbox. The Digital Securities Sandbox (DSS) was launched on September 30 by the Bank of England
After a 10-month suspension, CEX.IO, a prominent centralized crypto exchange, has officially resumed its operations in the UK as of Thursday morning. This development follows the exchange’s alignment with the Financial Conduct Authority (FCA) regulations and its collaboration with Nexo. The temporary halt in October 2023 was in response to
Following a recent upgrade to meet the Financial Conduct Authority (FCA) compliance guidelines, Nexo a centralized crypto lender resumes UK client registrations on Tuesday. This is done after a ten-month pause in the onboarding process. Nexo suspended new user registrations in the UK in December 2023 due to changes in
A man from London is the first in the UK to face charges related to running an unlicensed Bitcoin ATM. After a search of a Chatham electronics store by the Kent Police on April 28, 2023, Habibur Rahman, 37, of Langdon Crescent, East Ham, was taken into custody. Moreover, the
