Tag Archives: united kingdom

An anonymous UK resident reportedly parted with nearly $200,000 of his savings after a woman he messaged in a dating app conned him. The man admitted he felt so desperate after the scam that he considered taking his life. ‘In The Blink of an Eye, Everything Was Gone’ According to a recent coverage by BBC, the British citizen, called Tom (which is not his real name), was struggling with a break-up in 2020 and joined a dating application to look for companionship. Shortly...

Singapore is telling all crypto companies within its borders to cease advertising their products and services to members of the public. This rule also applies to any banks or traditional institutions that offer crypto. They are not allowed to produce any advertisements and they cannot show these ads in public areas like on buses or trains, websites, social media, physical ATMs, or broadcast and print media. Singapore Looks to Prevent Crypto Companies from Producing Ads...

The London-based venture capital company Blossom Capital raised $432 million to invest in early-stage tech startups in Europe. The firm has reserved a third of the proceeds for investments in the cryptocurrency industry. Blossom Capital Eyes the Crypto Universe The cryptocurrency initiative, which the British organization launched, does not come as a surprise since its Founder – Ophelia Brown – personally bought bitcoin ten years ago: “I’ve personally been active in this...

The use of cryptocurrencies has grown considerably over the past year, as more people fall down the Bitcoin rabbit hole. According to a study by payment processor PaySafe, most cryptocurrency enthusiasts are willing to put their money where their mouth is and get paid in cryptocurrencies, ditching fiat once and for all. The report “Inside the crypto community: Plotting the journey to mass adoption” was published on January 11, 2022, revealing the most important trends among...

The United Kingdom government backed Hedera and Neuron Innovation as the duo conducted a trial on the drone data collation and storage using a public ledger consensus. Hedera Network Used to Track Drones Neuron Innovation, a London-based aviation company, has conducted a drone data collection trial sponsored by the government of the United Kingdom. The test was made possible using a public ledger consensus protocol developed by Hedera. The collaboration between Hedera and...

Philip Hammond – former Chancellor of the UK and an ex-member of the Conservative Party – believes people should be extra cautious when entering the cryptocurrency space. He said that institutions, despite recognizing the asset class, have only dipped their toes in terms of investing. Dipping Toes In October this year, former Chancellor Lord Hammond became a senior advisor at Copper – a British cryptocurrency custody firm that provides infrastructure for the institutional...

Nikhil Rathi – CEO of UK’s top financial regulator FCA – proposed that the British government should not pay compensations to individuals investing in cryptocurrencies in case of a loss. Digital assets have been employed in criminal activities, and investors dealing with them “must be ready to lose all of their money,” the top exec opined. The UK Needs to ‘Draw Some Pretty Clear Lines’ The Chief Executive Officer of the FCA – Nikhil Rathi – addressed his proposal to the...

A recent survey revealed that the majority of the UK residents would not support their government if it imposed a crackdown on bitcoin due to environmental reasons. Somewhat expectedly, the elderly were bigger proponents of the move. Not The Best Idea The first ten months of 2021 have been another turbulent period for bitcoin. The primary cryptocurrency hit an all-time high price of nearly $65,000 in April but then plunged in the next several months to as low as $29K in July....

According to recent research, every third British citizen fears that a potential digital pound could bring more harm than benefits to the UK economic system. In contrast, 24% believe the so-called Britcoin would turn to be a successful financial instrument. Britcoin Brings More Suspicion Than Excitement The US journalism company Politico surveyed 2,500 British adults to determine their opinion on issuing a digital version of the local pound currency. The majority of the...

Digital assets continue to grow and take substantial portions of the financial markets, said Seek Capital’s managing director – Adam Proctor. As such, the family office will increase its allocation to it and hire a designated cryptocurrency analyst. By definition, a family office is a privately held company handling investment and wealth management for high-net-worth and ultra-high-net-worth individuals. Similar to other institutions, their appetite for the cryptocurrency...