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Crypto memes can be considered financial promotions, says UK watchdog

[Jul 17, 2023 8:26 PM] Memes found to be non-compliant with financial promotion rules could carry up to two years in jail under a proposal from the FCA.

Bitcoin ETFs Can Boost ‘Overall Reputation of Certain Cryptocurrencies’ — Brighty App Co-Founder

[Jul 16, 2023 2:00 AM] According to Nikolay Denisenko, the co-founder and CTO of the financial and earning application Brighty App, the digital version of the pound sterling can be a bridge that enables “easy conversions between different types of crypto…

Europe Expects Its First Bitcoin ETF This Month, Report

[Jul 16, 2023 12:00 AM] Europe’s first bitcoin exchange-traded fund (ETF) is set to launch in July after a 12-month delay caused by the crypto winter. The fund has been authorized in Guernsey, a more flexible jurisdiction, which will ostensibly help to avoid some of the…

UK's New Online Safety Bill Applies to the Metaverse, Lawmakers Agree

[Jul 13, 2023 3:35 AM] The bill, nearing approval, has measures to prevent children from experiencing harm online.

UK Regulator Continues Crackdown on Crypto ATMs, Checks 18 New Sites

[Jul 11, 2023 3:30 PM] The U.K.’s Financial Conduct Authority (FCA) is proceeding with efforts to shut down all bitcoin ATMs “illegally operating” in the country. After more inspections in the past couple of months, the watchdog vowed to continue to take action against…

UK Treasury Starts Consultation on Five-Year Digital Securities Trial

[Jul 11, 2023 4:41 AM] The pilot will relax regulations for digital bonds and equities – but not unbacked crypto, like bitcoin or ether.

UK Regulator Ramped Up Campaign Against Crypto ATMs in May and June

[Jul 11, 2023 2:02 AM] The financial watchdog conducted inspections in conjunction with the South West Regional Organized Crime Unit and the police forces of Greater London, Bedfordshire and Hertfordshire.

UK Lords Pass Bill to Help Seize and Freeze Crypto Used for Crime

[Jul 4, 2023 10:58 AM] The bill, introduced in September, now enters its final stages in Parliament.

UK Finance: Digital Pound Holdings Should Be Limited to £5,000 to Avoid Panic

[Jul 4, 2023 2:00 AM] U.K. Finance, one of the largest finance membership organizations in the U.K., has issued its recommendations to the Bank of England regarding the issuance of a digital pound. The organization stated that individual holdings of the proposed central…

UK Crypto, Stablecoin Rules Receive Royal Assent, Passing Into Law

[Jun 29, 2023 8:13 AM] The Financial Services and Markets Act 2023 classifies crypto as a regulated financial activity.

UK Needs Bespoke Legal Framework for Using Crypto as Collateral: Law Commission

[Jun 27, 2023 5:01 PM] The Commission, funded by the Ministry of Justice, also pushed for legislation to treat crypto as a new type of property in its latest set of recommendations.

Digital Pound Should Be Interoperable With Crypto, UK Lobbyists Say

[Jun 22, 2023 6:04 AM] Stakeholders also want the Bank of England to consider tougher caps on individual digital pound holdings to prevent bank runs.

Binance US Market Share Shrinks Amid Legal Battle With SEC

[Jun 22, 2023 3:30 AM] The market share of the U.S. subsidiary of Binance has declined amid an ongoing crackdown by America’s securities regulator. According to new data, leading U.S. crypto exchange Coinbase, also sued by the Securities and Exchange Commission (SEC), is…

Binance Unit in Britain Cancels UK Regulatory Authorization

[Jun 20, 2023 3:30 PM] Britain’s financial regulator has approved a request by Binance to cancel its regulatory permissions in the United Kingdom. The move comes as the world’s leading cryptocurrency exchange takes steps to focus on fewer European markets amid increased…

Binance UK office one of 2,403 companies sharing ‘utility closet’ in Suffolk

[Jun 20, 2023 12:28 AM] Binance has drawn attention for using a small building as its registered office in the UK, but tech firms have used a similar trick for years.

UK Crypto, Stablecoin Laws Approved by Parliament's Upper House

[Jun 19, 2023 8:39 AM] The Financial Services and Markets Bill stands to recognize crypto as a regulated activity and stablecoins as a means of payment.

UK Financial Watchdog Cancels Binance Permissions on Firm's Request

[Jun 19, 2023 7:06 AM] U.K.'s Financial Conduct Authority said Binance's local unit is no longer authorized to provide any regulated services in the country.

Ripple welcomes MiCA regulation as US lawsuit highlights lack of clarity

[Jun 14, 2023 3:12 AM] Ripple’s operations gear up in Europe and Asia despite an ongoing lawsuit with the U.S. Securities and Exchange Commission.

Bitstamp, Interactive Brokers Join UK Crypto Register as First Additions in 6 Months

[Jun 13, 2023 8:15 AM] The two are the first companies added by the Financial Conduct Authority to the crypto register in six months.

UK Has No Plans for 'Crypto Tsar' Proposed by Some Lawmakers, Minister Says

[Jun 13, 2023 5:41 AM] Economic Secretary to the Treasury Andrew Griffith reiterated the government's position that crypto should not be treated like gambling.

FCA Right to Propose Stop to Marketing Crypto as ‘Inflation Resistant,’ UK Industry Members Say

[Jun 13, 2023 1:14 AM] A long-running industry narrative is that limited-supply cryptocurrencies like bitcoin can hold their value against inflation – similar to gold or bonds.

UN report highlights ‘serious and urgent’ concerns about AI deepfakes

[Jun 12, 2023 8:30 PM] The UN wants to address AI-generated fake news and information as the organization looks to bring in voluntary guidelines for the technology.

A16z Chooses London as Destination for First Office Outside U.S.

[Jun 12, 2023 3:07 AM] The venture capital firm plans to use the office, which will open later this year, to fund growth in the crypto and startup ecosystems in the U.K. and Europe.

UK Bans ‘Refer a Friend’ Bonuses With Tougher Crypto Marketing Rules

[Jun 9, 2023 9:30 PM] Businesses marketing crypto assets to U.K. consumers will have to abide by stricter advertising rules presented by the country’s financial watchdog. These include prohibiting ‘refer a friend’ bonuses for the industry as well as introducing a…

Free Promotional NFTs, Crypto Airdrops Would Be Banned Under New UK Rules, Official Says

[Jun 9, 2023 4:49 AM] Crypto airdrops and NFTs themselves will not be banned, but using such incentives alongside promotions that encourage people to invest would be, said FCA's Matthew Long.

UK Lawmakers Clash Over Government Plans to Regulate Crypto as Financial Services

[Jun 8, 2023 2:09 AM] While some lawmakers have aligned with the government’s proposal, others want the volatile assets to be treated as gambling.

AI should be regulated like medicine and nuclear power: UK minister

[Jun 6, 2023 12:30 AM] A minister from the United Kingdom's opposition party says AI should be licensed and regulated in a similar way to the pharmaceutical and nuclear industries.

UK Lawmakers Call for a Dedicated Government Role to Oversee Crypto Regulation

[Jun 5, 2023 2:17 AM] The Crypto and Digital Assets All Parliamentary Group released its long-awaited inquiry into crypto on Monday.

UK Will Need New Laws to Accommodate Future Digital Pound, Lawyers Say

[May 22, 2023 3:44 AM] Should the country decide to issue a digital pound, existing data protection, security and anti-money laundering rules would need amending, said Louise Abbott, partner at U.K.-based Keystone Law.

UK Lawmakers' Bid to Regulate Crypto as Gambling Could Be a Political Problem, Invites Industry Wrath

[May 18, 2023 1:00 AM] The Treasury is still adamant it will regulate digital assets like financial services but its plans will rely on parliamentary support.