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“# BoE deputy gov: regulators should pursue crypto as a ‘matter of urgency’ ” Jon Cunliffe, the deputy governor at the Bank of England for financial stability, said the risks of a growing crypto market on the financial system are “relatively limited” at the moment, but have the potential to grow very rapidly if regulators…
“# UK’s Ex-Chancellor Philip Hammond to advise crypto firm Copper ” Former Chancellor of the Exchequer in the United Kingdom, Lord Philip Hammond, has joined cryptocurrency custodial group Copper as a senior advisor with the ambition of “promoting the UK as a Global leader in digital asset technology.” The London start-up firm, which provides custodial…
“# Binance incapable of effective supervision, British regulator states ” The United Kingdom’s Financial Conduct Authority (FCA) released a supervisory notice on Wednesday, stating that prominent crypto exchange Binance is incapable of being effectively supervised and exposes users to financial risk. The FCA notice — originally dated June 25 — was in relation to Binance’s “complex…
“# 13 more crypto firms withdraw licensing applications in the UK ” The United Kingdom Financial Conduct Authority’s (FCA) crypto licensing regime is reportedly proving arduous for cryptocurrency businesses looking to operate in the country. According to a Reuters report on Tuesday, the number of withdrawn licensing applications from crypto businesses increased by over 25%…
“# Bank of England and UK Parliament get ‘Bitcoin fixes this’ treatment ” One crypto user is seemingly taking exception to current monetary policy from the Bank of England, or BoE, and expressing their frustration with a laser projector. Reported by Twitter user Dominic Frisby, an unknown person projected “Bitcoin fixes this” and other messages…
“# UK authorities to focus on stablecoin regulations to prevent monopolies ” John Glen, the United Kingdom’s financial services minister, has said that stablecoins will be the main focus of the government’s crypto regulatory activity. Glen made delivered his comments while addressing a conference organized by City & Financial Global on Tuesday, Reuters reported. For Glen, the…
“# Wirex halts UK signups after consultation with financial regulator ” London-based cryptocurrency and fintech firm Wirex has announced that it will no longer take on new U.K.-based customers following discussions with the jurisdictional regulator, the Financial Conduct Authority. The decision to temporarily halt U.K. sign-ups was apparently voluntary, according to a press release posted…
“# FCA releases detailed 5-point plan to make UK a fintech powerhouse ” Upon the announcement of the United Kingdom budget for 2020, Chancellor Rishi Sunak commissioned Ron Kalifa to conduct an independent review of the U.K. fintech sector. On Friday, eight months later, the FCA published the 108-page report, and it contains multiple clear…
“# BoE Governor: cryptocurrencies of today are destined to fail long term ” Bank of England Governor Andrew Bailey thinks it is unlikely that the current generation of crypto assets lack the design and structure needed to ensure long term regulatory survival. Speaking during the World Economic Forum’s Jan. 25 online panel “Resetting Digital Currencies”…
“# Dacxi joins self-regulating trade group CryptoUK as executive member ” Digital asset exchange Dacxi is joining CryptoUK, a self-regulatory trade association for the U.K. cryptocurrency industry. According to an announcement from CryptoUK today, Dacxi will be joining the group as its 8th executive member alongside exchanges Binance.UK, Coinbase, CryptoCompare, Electroneum, eToro, Ripple and Simmons…