United Kingdom News

Latest News on United Kingdom | Cointelegraph

There are no strict regulations on Bitcoin in UK. Bitcoin has no established legal status but is commonly treated as a foreign currency for most purposes, including value-added and goods-and-service taxes. Cryptocurrencies profits and losses are subject to capital gains tax. However, the UK government is planning on implementing some legal procedures in the cryptocurrency market. Their primary goal is to require UK Bitcoin exchanges to conduct due diligence in relation to customers and include cryptocurrency platforms in anti-money laundering and counter-terrorism financing policies. The UK has issued a warning about the risks of investing in ICOs and cryptocurrencies, though it has yet to establish any direct rules concerning it. Still, it was stated multiple times that the United Kingdom is working on cryptocurrency regulations and has no intentions to leave it in a legal gray area.

Major Swiss Stock Exchange SIX Lists World’s First Multi-Crypto ETP Amidst Market Collapse

15 HOURS AGO | by Helen Partz

The fourth largest European stock exchange, SIX Swiss Exchange, will list the world’s first multi-crypto exchange-traded product next week.

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Canada, UK, Singapore Central Banks: CBDCs Would Reduce Risks in Cross-Border Payments

NOV 16, 2018 | by Marie Huillet

CBDCs can improve counterparty credit risk for cross-border interbank payments and settlements, according to the central banks of Canada, U.K. and Singapore.

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Austrian Government Supports Blockchain Cancer Research, Screening Tool

NOV 12, 2018 | by William Suberg

Austria says it wishes to “highlight” blockchain during its upcoming E.U. presidency after announcing support for blockchain-based cancer research.

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Private Blockchains Could Be Compatible with EU Privacy Rules, Research Shows

NOV 11, 2018 | by Ana Berman

UK university researchers find that private blockchains with a sufficient level of centralization could comply with recent EU privacy rules.

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Experts: Finance Firms Need to Replace IT Infrastructure to Adopt Blockchain and Crypto

NOV 09, 2018 | by Ana Alexandre

According to some industry experts, entering the crypto and blockchain space will require some companies to rethink how they organize their IT infrastructure.

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93% of Brits Have Heard of Bitcoin, but Only 4% Have Bought It, Survey Shows

NOV 09, 2018 | by Ana Berman

UK market research company YouGov’s survey on Bitcoin shows that 93 percent of Brits know about the currency, but are not likely to purchase it.

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BBVA Leads Blockchain-Based Syndicated Loan of $150 Million with BNP Paribas and MUFG

NOV 07, 2018 | by Helen Partz

Banco Bilbao Vizcaya Argentaria (BBVA) has carried out a blockchain-based syndicated loan of $150 million with BNP Paribas and MUFG.

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HSBC India Completes Joint Blockchain-Enabled Transaction With India Holding Giant RIL

NOV 04, 2018 | by Helen Partz

HSBC India and India’s holding giant Reliance Industries have completed a joint blockchain-enabled trade finance transaction.

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Circle Joins Industry Body for Developing Global Crypto Standards

OCT 31, 2018 | by Helen Partz

Circle has joined industry body Global Digital Finance as a founding member to develop global rules and best practices for crypto firms.

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UK's Financial Regulator Mulls Ban on Sale of Crypto Derivatives

OCT 30, 2018 | by Marie Huillet

The U.K.’s Financial Conduct Authority has said it will consider whether to ban the sale of cryptocurrency-based derivatives, citing the risks of amplified inve...

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UK: Gov’t Taskforce Proposes Crypto Regulation Changes, Questions Crypto Definition

OCT 29, 2018 | by Ana Alexandre

A report from the U.K. Cryptoassets Taskforce has proposed new regulations for cryptocurrencies, particularly on CFDs and futures that reference cryptoassets

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UK: New Report Warns Over ‘Bad’ Government Cryptocurrency Regulation

OCT 29, 2018 | by William Suberg

Critics call British authorities’ plans to increase regulatory control of Bitcoin and cryptocurrencies a “very blunt instrument approach.”

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UK Government Vetoes Royal Mint’s Launch of Digital Gold After CME Exit

OCT 25, 2018 | by Marie Huillet

The British government has vetoed the launch of a gold-backed cryptocurrency by the 1,100 year old institution Her Majesty’s Royal Mint.

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Central Bank-Issued Digital Currencies: Why Governments May (or May Not) Need Them

OCT 25, 2018 | by Stephen O'Neal

Japan’s central bank doesn’t want a CBDC. What about others?

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UK Blockchain Startup to Enter EU Settlement System After French Regulator’s Approval

OCT 24, 2018 | by Ana Berman

U.K. startup Setl, which provides blockchain solutions for the financial sector, has gained French securities regulator’s approval to run a central securities d...

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Blockchain-Based Communication Platform Aims to Protect Your Personal Messages

JAN 12, 2018 | by Guest Author

The decentralized system allows users to call and text directly over a public network

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China to Lead International Standardization Research Group for IoT, Blockchain Tech

JUL 18, 2018 | by Max Yakubowski

China will lead a joint working research group on IoT and blockchain within their international standards organizations.

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Blink And You’ll Miss It: US, UK Officials Both Say They’re ‘Looking At’ Crypto

JAN 25, 2018 | by William Suberg

Crypto is a topic regulators are “looking it” specifically the week of the WEF 2018, with their language being strikingly similar.

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Government Debt Getting Downgraded, Thankfully Bitcoin Backed Only By Math

SEP 25, 2017 | by Jacob J

The biggest argument against cryptocurrencies is that unlike fiat currencies, they do not have the backing of any government. As multiple rating downgrades show...

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Santander: We’ll Launch Int’l Payment App With Ripple This Spring If No One Beats Us To It

MAR 24, 2018 | by Molly Jane Zuckerman

Santander has announced the upcoming launch of an international money transferring mobile app that will use Ripple’s technology.

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UK’s Royal Mint Launches Gold-Backed Cryptocurrency

JAN 31, 2018 | by Helen Partz

The UK’s Royal Mint has launched its own gold-backed cryptocurrency, Royal Mint Gold (RMG) — one coin is equal to one gram of gold.

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CryptoBonus: HullCoin Users Get Benefits From Free Pies To Tax Breaks

NOV 24, 2017 | by William Suberg

Free food is just the tip of the iceberg for HullCoin users after the UK scheme gets a £240,000 cash injection.

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Fifth Largest Cryptocurrency EOS’ Blockchain Set to Launch

JUN 09, 2018 | by Olivia Capozzalo

The EOS blockchain is set to launch after a live-streamed vote among “Block Producers” yesterday unanimously voted “GO”.

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Cambridge Experts Diverge On The “Bitcoin Bubble” Question

DEC 21, 2017 | by William Suberg

Cambridge experts argue over whether or not Bitcoin is a bubble. The answer depends on who you ask and how you define the coin.

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Visa Card Payments Failing in UK, Europe, Highlighting Need for Decentralized Options

JUN 01, 2018 | by Molly Jane Zuckerman

Visa card payments are not working across the UK and Europe in a sharp contrast to Bitcoin’s 99.99% uptime since the network’s inception.

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New Ethereum-Based Platform to Improve Governance Services

JAN 26, 2018 | by Guest Author

The project seeks to pioneer decentralized, smart-contract based governance and help to overcome barriers posed by borders and regulations.

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Blockchain It! Companies Rename Themselves To Bump Up Share Price

DEC 23, 2017 | by William Suberg

Adding Blockchain to a company’s name appears to reliably increase its stock price, as the most recent examples demonstrate.

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A Pair of British Entrepreneurs Sold 50 Luxury Flats For Bitcoin In Dubai

FEB 11, 2018 | by Helen Partz

Founder of Ultimo Michelle Mone and billionaire investor Douglas Barrowman have sold 50 apartments for Bitcoin in Dubai. One buyer is reported to have purchased...

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Adding “Blockchain” to Name Causes Soaring Valuation, Reminiscent of Dot-Com Bubble

OCT 31, 2017 | by Jacob J

Blockchain hype resembling dot-com bubble, as companies with “Blockchain” in name see values soar.

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World’s First ‘Cryptocurrency E-Bike’ Earns Riders $26 per 1600 Kilometers

JUN 15, 2018 | by William Suberg

Avid cycling fans will soon be able to earn money from cryptocurrency while riding, but the gains might not be impressive.

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UK Secretary Diane Abbott: If Everyone Used Bitcoin ‘The Whole Thing Would Collapse’

MAR 02, 2018 | by Andrew Marshall

UK’s Shadow Home Secretary says that Bitcoin should be heavily regulated by the Labour party, claiming that the cryptocurrency is “just a gigantic Ponzi scheme....

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UK’s Royal Mint Launches Gold-Backed Cryptocurrency

JAN 31, 2018 | by Helen Partz

The UK’s Royal Mint has launched its own gold-backed cryptocurrency, Royal Mint Gold (RMG) — one coin is equal to one gram of gold.

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Bank of England Governor Claims Bitcoin Has ‘Failed’ As A Currency

FEB 20, 2018 | by Helen Partz

Bank of England Governor Mark Carney claims cryptocurrency is not a legitimate currency, arguing it is neither a means of exchange, nor a store of wealth.

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‘Obsessed With Price’: Famous Bitcoin Developer Wants To Save It With 5 Female ‘Monk Hackers’

MAR 07, 2018 | by William Suberg

Amir Taaki wants to use a “politicized startup accelerator” to restore Bitcoin’s “vision” and bring about political change, starting in Catalonia.

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Bank of England Knocks Down Using Bitcoin as Form of Currency

JUL 22, 2016 | by Evander Smart

The United Kingdom will not become the next home of Bitcoin’s currency.

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Crackdown On Bitcoin In UK Over Money Laundering, Tax Evasion

DEC 04, 2017 | by Jon Buck

UK Treasury will regulate cryptocurrencies to stop money laundering, tax evasion.

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Visa Card Payments Failing in UK, Europe, Highlighting Need for Decentralized Options

JUN 01, 2018 | by Molly Jane Zuckerman

Visa card payments are not working across the UK and Europe in a sharp contrast to Bitcoin’s 99.99% uptime since the network’s inception.

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Bank of England to Rebuild Settlement System to Interface with Blockchain Platforms

JUN 23, 2018 | by Ana Alexandre

The Bank of England will rebuild its Real Time Gross Settlement system to interface with platforms using distributed ledger technology.

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Think Tank Director Tells UK Parliament That Blockchain Is ‘Pixie Dust’ and ‘Magic Wands’

MAY 02, 2018 | by Ana Alexandre

Martin Walker, director of the Center for Evidence-Based Management, told the Treasury Committee that blockchain is a fad without much to offer to the financial...

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World’s First ‘Cryptocurrency E-Bike’ Earns Riders $26 per 1600 Kilometers

JUN 15, 2018 | by William Suberg

Avid cycling fans will soon be able to earn money from cryptocurrency while riding, but the gains might not be impressive.

41257 | 8

Cambridge Experts Diverge On The “Bitcoin Bubble” Question

DEC 21, 2017 | by William Suberg

Cambridge experts argue over whether or not Bitcoin is a bubble. The answer depends on who you ask and how you define the coin.

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UK Bans End-to-End Encryption, Mandates Government Authority Over Encrypted Technologies

DEC 02, 2016 | by Joël Valenzuela

The United Kingdom has legislated an effective ban on end-to-end encryption, making sure the government has backdoor access to any technology they deem necessar...

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Blockchain-Based Communication Platform Aims to Protect Your Personal Messages

JAN 12, 2018 | by Guest Author

The decentralized system allows users to call and text directly over a public network

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Hodler’s Digest, May 7-13: From Facebook To NYSE, Mainstream Thinks Of Adoption

MAY 13, 2018 | by Molly Jane Zuckerman

In a series of strong wins for blockchain adoption this week, Facebook is considering the technology for its messaging app, West Virginia ran the US’s first blo...

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‘Fedcoin’ Strikes Again: Fintech Companies Propose Use of Crypto to US Fed

JUL 23, 2017 | by Joshua Althauser

In a report by the Faster Payment Task Force, fintech companies have outlined how Blockchain technology can be used to make payments faster for the US Federal R...

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