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Tag Archives: UK

UK Bank Holds Venezuela’s Gold Hostage – Bitcoin Users Unaffected

Twitter Facebook LinkedIn Venezuela, where bitcoin trading is at an all-time high and the socialist government has issued its own cryptocurrency amid record-breaking inflation and other economic woes, has been denied access to its own gold reserves by the Bank of England. The justification used for denying the country’s request to repatriate 14 tons of gold, worth about $550 million, ...

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Cryptocurrency Derivatives in the UK at Risk of Ban, Taskforce Has Final Say

Cryptocurrency derivatives including futures, options and contracts for differences could potentially be prohibited in the United Kingdom in the near future. According to a statement issued by the Financial Conduct Authority (FCA), UK’s financial watchdog, consultations will be held between now and the first quarter of next year where a ban on crypto derivatives will be explored. “A separate consultation ...

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UK Financial Watchdog Eyes Ban on Sale of Crypto Derivatives

The Financial Conduct Authority (FCA) is eyeing a potential ban on the sale of cryptocurrency derivatives, the Financial Times reported. The UK financial watchdog said that it would begin discussions in the first quarter of the next year on whether it would go ahead with the proposed ban on crypto-based difference, futures, and options. The agency affirmed that it still believes ...

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

Her Majesty’s Royal Mint, the institution responsible for producing physical coins for circulation in Britain, has been unable to launch its gold-backed cryptocurrency after the government vetoed the project, Reuters reports Oct. 25. As reported, the Royal Mint had first unveiled it project to issues as much as $1 billion worth of digital gold tokens, dubbed Royal Mint Gold (RMG), ...

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UK Govt. Halts Mint’s Plan for Gold-Backed Cryptocurrency

The UK government has blocked a Royal Mint plan to create a “digital gold” token that would trade on a cryptocurrency exchange. According to sources cited in Reuters, the British finance ministry refused to approve the 1,100-year old Mint’s plans to issue as much as $1 billion worth of “Royal Mint Gold” (RMG) tokens, which would have been backed by ...

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

U.K. blockchain startup Setl is about to enter an E.U. settlement system after receiving approval from the French securities regulator to run a central securities depository, the Financial Times (FT) writes Tuesday, Oct. 23. Setl, which develops blockchain solutions for the financial sector, received a license from the Autorite des Marches Financiers and can now connect to the Target2-Securities platform ...

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U.K. MP to Advise Crypto Exchange on Gov’t Relations, Says ‘Steep Learning Curve’ Ahead

U.K. Member of Parliament (MP) Stephen Hammond has joined the advisory board of a new retail investor-focused crypto exchange to provide guidance on government relations. The news was shared in a press release with Cointelegraph today, Oct. 22. Hammond is also notably a member of the Treasury Select Committee, where he is responsible for government financial oversight and regulation. The ...

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UK Banking Giant Barclays’ Cryptocurrency Project ‘Put on Ice’: Report

Major investment bank Barclays has reportedly put its cryptocurrency trading project “on ice” amid a prolonged bear market that has dampened interest in the asset class among many investors. According to a Financial News report, the London-based financial institution shelved the project in September, leading to the departure of Chris Tyrer, the bank’s former head of energy trading who had ...

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Crypto Regulations for UK Could Take Two Years, Says Legal Expert

Jeff Kaufmann, Legal Director at British law firm Reynolds Porter Chamberlain (RPC), said that the introduction of cryptocurrency market regulations in the U.K. could take two years, according to an RPC press release published Oct. 11. RPC is a London-based corporate and insurance law firm with offices in Bristol, Singapore, and Hong Kong, and staff amounting to 720 people, including ...

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