Archives for: February 14th, 2023

Revolut launches new cryptocurrency staking feature in the UK

Written by: ( February 14, 2023 )

Revolut recently launched a cryptocurrency staking feature in its app in an effort to maintain its position as one of the largest neo-friendly banks in Europe. It is Revolut’s intention to take advantage of the growing interest in crypto among almost 25 million unique users by beginning with Cardano and Tezos, and eventually joining Ethereum […]

The UK presents its draft guidelines for cryptocurrency

Written by: ( February 2, 2023 )

It has been announced that the UK intends to regulate Bitcoins and other cryptocurrencies within the country in the near future. In his presentation, Economic Secretary to the Treasury Andrew Griffith explained that the country remains committed to growing the economy and enabling technological advancement and innovation, including digital currencies. Hence, the UK wants to […]

UK consumers want cryptocurrency as a payment option on Amazon

Written by: ( December 20, 2022 )

Although crypto prices have plummeted, a quarter of British consumers would like Amazon to accept cryptocurrency as a payment method. In addition, over a third of the country’s population now owns cryptocurrencies, according to the Cryptocurrency on the High Street Report by When Brits are looking for places to spend cryptocurrency, they most often […]

UK close to launching new cryptocurrency industry regulations

Written by: ( December 6, 2022 )

The UK Treasury is getting ready to release new laws that will regulate the cryptocurrency industry, including provisions for how to deal with the collapse of a business, restrictions on marketing products, and limitations to stop companies from marketing in the country. Under the new regime, ministers will soon launch a consultation on the implications […]

UK advances cryptocurrency legislation through new bill

Written by: ( October 26, 2022 )

The UK’s legislators voted Tuesday to recognize cryptocurrency assets within its financial system. This development was made during a plenary session of the House of Commons, which allowed line-by-line review of the Financial Services and Markets Bill. The UK government has also included a comprehensive post-Brexit economic policy in the bill. The legislators considered a […]

UK Treasury takes a step forward in regulating cryptocurrency companies

Written by: ( June 1, 2022 )

The UK Treasury has submitted proposed legislation to regulate cryptocurrency businesses. In the wake of the Terra LUNA and UST crypto collapses, it published a consultation paper on May 31. The paper highlighted the importance and impact of stablecoins on innovation, as well as their financial stability in general, should systemic failures occur. It demanded […]

The UK could soon authorize cryptocurrency as a payment method

Written by: ( April 5, 2022 )

With the unveiling of plans to allow stablecoins to become payment options in the UK, the country’s government is closer to bringing cryptocurrencies to mainstream finance. However, there is still work to be done before the plan can be realized. The Treasury announced Monday that stablecoins, a type of crypto that is tied to regular […]

UK’s FCA extends deadline for cryptocurrency business registrations

Written by: ( March 31, 2022 )

The Financial Conduct Authority (FCA), Britain’s financial regulator, has extended the temporary registration status to some crypto-service providers past its Friday deadline. In a statement on Tuesday, the FCA said that the UK will only allow a limited number of crypto firms to continue to hold temporary registration status. The financial regulator stated that temporarily […]

UK orders immediate removal of all unlicensed cryptocurrency ATMs

Written by: ( March 11, 2022 )

The Financial Conduct Authority (FCA), the UK’s central financial regulator, has issued a verdict regarding the presence of cryptocurrency ATMs in the country. Many in the industry were shocked to learn that the regulator issued a strong “shut down, or face further actions” order to ATM operators, outlining their intention to contact the companies to […]

UK lawmakers don’t want cryptocurrency investments to be called investments

Written by: ( December 9, 2021 )

According to the head of the Financial Conduct Authority (FCA), the agency expects new powers to regulate crypto advertisements. The UK’s Members of Parliament (MPs) have asked the FCA to restrict the use of “invest” and the “investment” words by cryptocurrency firms for promotional purposes. According to a Thursday report in The Times, MPs on […]