Tag Archives: united kingdom

A division of Binance has been banned in the United Kingdom. Regulators from within the country are no longer permitting a sector of one of the world’s biggest and most popular cryptocurrency exchanges to provide services to residents of the UK as they work out regulatory guidelines for the crypto space. Binance Markets Limited Is No Longer Working in the UK While Binance.com is still accessible to traders in the country, they will no longer be able to garner services...

UK authorities have made one of the largest seizures of cryptocurrency assets worth more than $190 million. Specialists detectives from the Met’s Economic Crime Command confiscated the funds after investigations on money laundering. UK Authorities Seize $140M in Crypto According to a press release from the Met’s Economic Crime Command, the local authorities made the “largest cryptocurrency seizure in the UK,” which is also believed to be “one of the largest globally.” As the...

The latest data revealed that 78% of the UK residents have heard of cryptocurrencies, as 2.3 million of them hold some of them. Nonetheless, the overall understanding of digital assets has declined. More HODLers But Less Crypto Knowledge Digital assets remain a complicated industry in the UK, and the share of people investing in them is significantly lower than in other countries. However, the public awareness surged by 5% in a year, as in 2021, 78% of the locals have heard...

British banks are making it increasingly difficult for their customers to get involved with crypto, citing particular concerns related to security and exposure to fraud. According to a report by the British newspaper The Times, TSB bank is reportedly about to ban its customers from buying crypto with funds managed by the bank. TSB is reportedly concerned about an “excessively high” fraud rate related to crypto exchanges operating in the country. TSB Could Be Cutting Ties With...

Hedge fund CFOs expect the investment trends to change in the next few years, including adding cryptocurrencies to their portfolios. A recent study revealed that they are significantly more willing to enter the digital asset market as one in six anticipate a 10% or higher allocation. Hedge Funds to Enter the Crypto Space? Cryptocurrencies have been regarded as a rather speculative form of investment for years, but the COVID-19 pandemic and the world governments’ actions...

People in the UK are more interested in Bitcoin and crypto today than in any other year, including 2017, when the digital asset boom was at its peak. According to a UK’s Financial Conduct Authority survey, about 78% of adults have now heard of cryptocurrencies, and more than 2.3 million people in the UK hold or have owned cryptocurrencies at some point. Crypto is a Serious Investment The way British people think about crypto has changed dramatically. The FCA mentions that...

Tom Tugendhat, a member of Parliament of the United Kingdom, urged the nation towards implementing more innovations in its financial sphere. Interestingly, he also outlined the growth of the cryptocurrency sector and hinted he was more bullish on ether rather than bitcoin. UK Member of Parliament Bullish on ETH Tugendhat is a British Conservative Party politician serving as the Chairman of the Foreign Affairs Committee since 2017. He has also been a member of the UK...

A UK-based bank, NatWest, will reportedly halt serving customers who accept payments in bitcoin and other cryptocurrencies. The institution referred to recent warnings highlighted by the country’s financial regulator and said dealing with digital assets contains high risk. UK Bank Stops Working With Crypto Users According to The Guardian coverage, National Westminster Bank, known as NatWest, plans to bar serving all customers accepting crypto payments. Morten Friis, the...

The U.K. Financial Conduct Authority (FCA) noted that there has been a rising interest in cryptocurrencies from the younger generation, especially among women under age 40. The regulator said that most of these investors could not withstand the heavy losses associated with this form of investment.Young People Invest In Crypto For The “Thrills” Per the report, the FCA said its study showed that young people mostly delve into crypto investments because of the thrill and idea of owning a stake...

Coin Floor – a cryptocurrency exchange in the United Kingdom – is taking some flack over a recent ad that allegedly took aim at pensioners. The ad talked about the benefits of crypto investing, though it has since been banned by national regulators. Coin Floor Sees Its Ad Get Knocked Down The ad has been deemed “socially irresponsible” and “misleading,” as according to official complaints, it did not address the many risks associated with cryptocurrency investing. In a...