Wednesday , August 17 2022
Home / Tag Archives: united kingdom

Tag Archives: united kingdom

Global Watchdogs to Regulate Stablecoins Following TerraUSD (UST) Fiasco

The catastrophic failure of Terra’s algorithmic stablecoin, TerraUSD (UST), last week exacerbated the chaos in the crypto industry and accelerated plans to regulate the stablecoins market. Following the market meltdown, global financial regulators started proposing different legislations to regulate stablecoins better and prevent similar incidents from occurring in the future. UK to Legalize and Regulate Stablecoins Over the weekend, the United Kingdom Treasury revealed plans...

Read More »

British Crypto Investors Can Now Offset Losses With Future Gains for Tax: Report

Though Bitcoin touched the 30,000 level after days of violent dumps befalling the crypto market, a large portion of investors have since then remained underwater. The recent market selloff led by Terra and its two native cryptocurrencies plummeting in value has at one point wiped out the crypto market’s total gains attained from 2021. But for spooked investors in Britain experiencing losses, they can now offset them against future gains in tax filings, according to HM Revenue...

Read More »

British Asset Manager Fasanara Raises $350 Million Crypto and Fintech Fund (Report)

Fasanara Capital Ltd – a London-based asset manager – reportedly closed a $350 million fundraiser and wants to use the financing to invest in cryptocurrency companies and financial technology. The Crypto Crash Works in Favor of Fasanara According to a Bloomberg coverage, Fasanara secured its second fund to back technology startups and companies part of the digital asset industry. Specifically, it intends to allocate the $350 million to crypto exchanges and digital lending...

Read More »

Thieves Are Targeting UK Investors’ Phones to Steal Crypto: Report

Digital asset investors residing in London are currently facing threats to the security of their holdings as a new wave of “crypto mugging” surfaces. Muggers Are Targeting Crypto Investors According to a recent coverage by the Guardian, London police have received countless anonymous reports of victims losing huge sums of money in crypto after their phones had been forcefully seized by muggers. Armed with the knowledge that crypto transactions are irreversible, unlike bank...

Read More »

A Third of All Britons Have Now Used Crypto, Says Coinbase Report

Crypto adoption in the United Kingdom continues to rise, with a reported 33% of the country’s consumers having previously invested in such assets. The figure is up 4% from six months prior, and is second in Europe only to the Netherlands’ whopping 47% statistic. Britons Buying Bitcoin The stat was gleaned from a bi-annual analysis conducted by Qualtrics, on behalf of cryptocurrency exchange Coinbase. It found that 61% of Britons who already own cryptocurrency plan to increase...

Read More »

Police are Losing Cybercrime Experts to the Crypto Industry, says NPCC

The United Kingdom’s National Police Chiefs’ Council (NPCC) claims that it’s losing cybercrime experts at 3 to 4 times the rate of the rest of policing. The crypto industry appears to be largely responsible for this, where major firms are poaching these professionals with offers of far greater pay. The Crypto-Cop Migration As Bloomberg reports, both cryptocurrency exchange Coinbase and blockchain intelligence firm Chainalysis are among the companies paying big money to employ...

Read More »

WikiLeaks’ Julian Assange is Оne Step Closer to US Extradition (Report)

The founder of the whistleblowing platform WikiLeaks – Julian Assange – could soon be extradited to the United States since the British and the American governments are diligently working on this. Still, the Australian activist will be able to appeal the decision. How Close Is Assange to a US Prison? The creator of the media organization WikiLeaks – Julian Assange – came to international attention in 2010. Back then, his platform published a series of leaks that exposed...

Read More »

The UK Is Looking to Regulate Stable Coins

The United Kingdom has announced it will soon be regulating stable coins and that it’s looking to broaden those regulations to include bitcoin and more standard versions of crypto in the future. The UK Is Planning to Regulate All Stable Coins Economic Secretary to the Treasury John Glen made the announcement in a recent speech at the Innovate Finance Global Summit. He commented: I can confirm that we will be legislating to bring certain stable coins into our payment...

Read More »

Crypto Companies in the UK Face Uncertainty Due to Lack of Clear Regulations

UK’s progress in crypto innovation hangs in limbo due to a lack of clarity from the watchdogs. Many high-profile companies are now looking for crypto friendlier pastures elsewhere. If cryptocurrency-based firms wind down their operations, the UK might face a mass exodus as the FCA deadline for receiving approval nears. Regulatory Hurdles in the UK The cryptocurrency market is largely unregulated in the UK. However, companies associated with the industry are required to...

Read More »

South Korea, Britain, Bulgaria to Join Forces to Combat Crypto Tax Dodgers (Report)

South Korea’s National Tax Agency’s chairman Kim Dae-Ji held a meeting this week with tax executives from Bulgaria and Britain to discuss the “rise of tax-dodging schemes”  through the use of digital assets.  As per a report from a local news outlet, the National Tax Agency plans to further cooperate with Bulgaria and Britain to track down individuals who use “new financial products” such as cryptocurrencies to dodge taxes, primarily through offshore schemes. Dae-Ji held the...

Read More »