Financial Conduct Authority [FCA], a financial regulator based in the United Kingdom recently published a research note highlighting the interaction of the consumers with cryptocurrency. Make It Or Break It Attitude Towards Crypto United Kingdom’s financial watchdog, the Financial Conduct Authority [FCA] has been operating in the country since 2013. As the financial world has
The Financial Conduct Authority in the UK issued a warning on 3rd March, 2020 claiming that BitMEX “is carrying on regulated activities which require authorisation.” It has been classified as an unauthorized firm providing financial services to its’ citizen. BitMEX cryptocurrency exchange, and one of the largest derivatives market for Bitcoin comes under the regulator’s
Social media giant Facebook’s cryptocurrency project Libra has been surrounded by controversies since it was announced. Regulators around the world have voiced concerns around Facebook’s lack of security measures to protect customer’s data after the Cambridge Analytica scandal, and the cryptocurrency’s potential threat to the global financial system. Amid intense regulatory scrutiny, Facebook has once
Key highlights Blockfi raises $18M Series A Is UK heading to crypto ban? India’s tryst with Cryptos Bitcoin hashrate hit all-time high Gemini data added to CME indices Blockfi raises $18M Series A Venture capitalist continues to show their interest in crypto and blockchain ventures. This week, BlockFi, an innovative wealth management solution for crypto
This is a time of turbulent economic conditions across the world and these conditions are reportedly influencing the price and demand for Bitcoin that has now been dubbed as a “safe haven” asset by many. An upcoming political event that is likely to be of consequence for Bitcoin is the Brexit. Nov 1 might be
The IRS equivalent in the UK – HM Revenue and Customs have sent out letters to three prominent Exchanges. Recently, the IRS in the US as well sent out letters to over 10,000 crypto-users after potentially obtaining the list from Coinbase last year. Reportedly, HMRC has sent out letters to Coinbase, eToro, and CEX.io. The
Facebook’s launch of new currency isn’t obviously the best thing for everyone out there – there’re few analysts, policymakers, lawyers, and experts raising their eyebrows by investigating the depth of Libra stable coin. Libra May Impose Taxation Issue The latest report reveals that the UK lawyer “Dan Neidle” investigated the tax issue that Libra can
In the midst of increasing heist cases and illicit business models in the crypto industry, UK’s Financial Service Agency (FSA) is proposing a ban on certain crypto products. Accordingly, the agency will release a final statement upon completing the newly released ‘consultation paper’. What is ‘Guidance on Cryptoassets’ Consultation Paper? On Jan 23, 2019, an
Announced on Jan 23, 2019, OKEx, one of the largest cryptocurrency exchange with present total market cap $494,011,680 is rolling out OTC trading specifically for UK and Thai users. OKEx launches OTC Trading Today’s hottest bulletins of OKEx adding two new currencies on its Over-the-counter (OTC) trading platform are exciting the million people across UK
Marcus Hughes, Coinbase’s lead executive believes the year 2019 will bring ‘regulations on Bitcoin’ across the world, particularly in Europe. Huges Predicting Positive Outcomes from Regulations Discussing at the Forbes Interview, Chief Counsel of Coinbase, the leading Bitcoin Exchange and Wallet service, Marcus Hughes said that the regulatory frameworks will shape the future of Bitcoin.
So far, Coinbase Exchange has appeared under the list of well performing and the aggressive strategic firm involved in cryptocurrency trading. As such, Coinbase, one among the largest cryptocurrency exchange has recently announced the launch of its trading services across six new countries. This includes Lithuania, Iceland, Andorra, Gibraltar, Guernsey and the Isle of Man.
Crypto market is suffering severe battering every day and regulators across the world are closely looking at the market scenario. As per the new report released by ‘the telegraph’, UK’s Financial Conduct Authority (FCA) is setting their weapons ready to curb fraudulent activities in the country’s crypto market. Dodgy Cryptocurrency Firms Doubled Up Reportedly there
Crypto hedge funds are launching at a fast pace and are further expected to rise despite the crypto market being a bear one defying the notion of the traditional market. Though crypto hedge funds rise is a “global phenomenon”, the US is leading the race with more than half of these funds. Crypto hedge funds