Tag Archives: united kingdom

The largest US-based crypto exchange experienced a threefold increase in law enforcement requests in the current year compared to 2020, as revealed in its latest transparency report. The total number of requests during the reporting period amounted to 13,079, marking approximately a 6% rise from the previous year. Notably, the United States maintained its position as the leading country in both 2022 and 2023, with a slight uptick in the number of requests in 2023. Coinbase...

Major cryptocurrency exchange Binance has stopped onboarding new users from the United Kingdom, pending when the firm can find a new FCA-authorized partner to approve its cryptocurrency promotions. The UK financial regulator restricted Binance’s previous local partner from approving crypto marketing materials. Binance Currently Unable to Promote Crypto to UK Customers Binance said it will place temporary restrictions on its platform for users in the United Kingdom as it is...

Coinbase co-founder and CEO Brian Armstrong has condemned the planned move by Chase UK, a subsidiary of the US-based multinational financial services behemoth JPMorgan, to restrict its clients in the United Kingdom from making cryptocurrency transactions. The Coinbase chief advised UK crypto holders to close their accounts with Chase in response to the bank’s ban. Armstrong Not Pleased With Chase UK Crypto Restrictions Brian Armstrong took to X to slam Chase UK’s crypto...

Chris Larsen – Co-Founder and Executive Chairman of Ripple – applauded the United Kingdom for turning into a financial and technological hub that aids the advancement of different innovations. The ongoing regulatory uncertainty in the United States and the lawsuit between the crypto company and the US SEC have prompted Ripple to expand globally. The UK has been among the destinations with the most open roles. Putting the UK on a Pedestal Larsen retweeted a post by Jeremy...

11 members of a drug operation have been arrested and jailed after taking part in an operation through which they sold 40 kilograms of cocaine on the streets of the United Kingdom. Crypto Crime in the United Kingdom is Getting Bigger However, once they were placed behind bars, their crimes didn’t end. They got in touch with friends and family members and used them to launder their criminal funds through Coinbase, one of the biggest and most popular digital...

The United Kingdom Financial Conduct Authority (FCA) said it will extend the deadline for crypto firms to implement the strict marketing rules created to protect consumers. According to an official release, the core rules will still come into effect from October 8, 2023, while measures that require greater technical development, like the 24-hour cooling-off period, can be implemented from January 8, 2024. FCA Extends Deadline for New Crypto Rules The FCA has labeled...

The London Stock Exchange (LSE) is reportedly planning to develop a digital markets enterprise. The move aligns with its broader strategy to become the first major exchange offering comprehensive trading of traditional financial assets on blockchain technology. One of the world’s oldest stock exchanges which can trace its history back more than 300 years, is “definitely not building anything around cryptoassets.” The focus is rather on blockchain technology to improve the...

PayPal announced that it will temporarily suspend crypto purchases on its platform for its U.K. based users beginning in October. The move comes in response to evolving regulatory guidelines provided by the Financial Conduct Authority (FCA) – Britain’s chief market regulator. PayPal Pauses Crypto Buys Per an email received by certain U.K. users on Wednesday, the suspension will take effect on October 1, and is expected to last until early 2024. “Your crypto remains safe,”...

A group of lawmakers in Canada is calling for full-on regulation of the crypto industry. Will Canada Regulate Crypto? In a recent report, the lawmakers wrote: While many emphasized Canada’s strong regulatory safeguards, such as provincial securities regulation and federal anti-money laundering and anti-terrorism financing obligations, witnesses stated that governments need to partner with industry to better understand this rapidly evolving sector and enact...

The leading financial technology company – Revolut – reportedly plans to increase its global cryptocurrency team by hiring up to 20% more employees by the end of 2023. The move comes somewhat unexpectedly since the firm recently disclosed that it will suspend digital asset services to US-based customers from September. As revealed by Financial News, Revolut is set to onboard over 1,000 people this year across the United Kingdom, Europe, and India. Approximately 40% of those...