Crypto venture capital backing tumbles again as market ‘winter’ spooks investors May 12, 2023 The amount of cash invested into crypto companies globally tumbled sharply again in the first quarter of the year as investors continue to flee the market amid a deep ‘crypto winter’, new data has revealed.
Britcoin: BoE’s CBDC head says digital pound will have ‘very highest standards of privacy’ May 9, 2023 The Bank of England’s director of fintech batted away concerns that a digital pound would threaten privacy as he confirmed that it would not be exchangeable with cryptocurrencies as they currently exist. Speaking at the Financial Times’ Crypto and Digital Assets Conference, Tom Mutton – who is responsible for leading the CBDC unit at the [...]
Crypto: As government consultation closes, what next for UK regulation? May 1, 2023 The government’s consultation on crypto regulations closed over the weekend with figures in the crypto industry welcoming proposals for greater oversight of the sector. The government hopes the regulations will turn the UK into a digital hub. The plans follow soon after a series of high-profile problems in the crypto industry, such as the collapse [...]
Cambridge dons launch tool to track Ethereum electricity consumption as concerns over environmental impact grow April 26, 2023 Cryptocurrencies will face more scrutiny on their environmental impact after the University of Cambridge released a new open access tool to track electricity usage from cryptocurrencies, starting with Ethereum. The new Cambridge Blockchain Network Sustainability Index (CBNSI) hopes to provide “cutting edge insights into the current and historical environmental impact of various blockchain networks.” So [...]
Stablecoins need ‘high quality’ backing to meet BoE’s standards, Cunliffe warns April 17, 2023 Stablecoins could improve efficiency in the payments sector but will need to be backed by “high quality and liquid assets” to meet the Bank of England’s regulatory standards, deputy governor Jon Cunliffe said today. In a wide ranging speech on the state of the payments sector, Cunliffe detailed the Bank’s work to ensure new forms [...]
FCA clamps down on illegal crypto ATMs in East London March 8, 2023 The Financial Conduct Authority (FCA) has clamped down on unregistered crypto ATMs in East London as it expands its efforts to shut down the illicit sector . The FCA inspected several sites in a joint operation with the Metropolitan Police. Crypto ATMs allow people to buy or convert money into cryptoassets. No crypto ATMs are [...]
Crypto: Nationwide bans credit card exchange payments and HSBC limits digital currency spending as consumer risk fears grow March 3, 2023 Several UK banks have restricted their customers from buying crypto assets as concern grows about the risks posed by digital currency to customers. In an email to customers earlier this week, Nationwide said it would not allow payments to crypto exchanges using its credit cards and would impose a £5,000 daily limit on current account [...]
How Bitcoin and crypto could revolutionise the housing market February 23, 2023 While crypto currency like Bitcoin is too volatile an asset to be presetly useful for completing property transactions, there are myriad ways the technology could be applied to property purchases. Here are some ways crypto could change how he sees the future of property sales and how the blockchain could be at its heart. DOES [...]
FCA warns crypto execs could face two years in jail for breaching financial promotion rules February 6, 2023 The Financial Conduct Authority (FCA) has warned crypto businesses that breaching new financial promotion regulations could lead to executives facing up to two years in prison. The FCA said that crypto companies which fail to meet its financial promotion rules will breach the Financial Services and Markets Act, “a criminal offence punishable by up to [...]
UK crypto hub ambitions at risk if it does not pass new rules quickly, experts warn February 1, 2023 The government’s new plans to “robustly regulate” cryptoassets garnered mixed reactions from the crypto industry today, with experts saying that while the proposals were welcome there were still huge questions about the timeline for when they might come into effect. Nick Taylor from Luno, a crypto exchange, described the launch of the consultation as “a [...]