#uk

On December 16, the UK Financial Conduct Authority (FCA) revealed plans to prohibit initial coin offerings (ICOs) as part of stricter crypto regulations.

This month, the UK government will present targeted regulatory proposals to create a favorable environment for crypto startups in the United Kingdom.

According to Odaily, billionaire investor and Bitcoin holder Christian Angermayer has left the UK for Switzerland in response to planned tax increases on offshore wealth for high-net-worth individuals.

Xapo Bank, a crypto-focused financial institution, received a license in the UK and officially launched interest-bearing accounts in USD and BTC. The Bitcoin account offers an annual interest rate of 1% paid directly in BTC, without the need to lock funds or lend to other users.

Kraken's institutional arm has begun offering services to clients in the UK and Australia, catering to hedge funds, ETF issuers, and other large entities with advanced management and functionality.

The UK Financial Conduct Authority (FCA) has arrested two individuals linked to the operation of an illicit cryptocurrency exchange that processed transactions worth over £1 billion. During the search, the police seized several digital devices.

As the UK heads toward an election, the cryptocurrency industry is expressing support for the Labour Party, which leads in all the polls. However, there is uncertainty about what policies to expect, as Labour has not been in power since 2010, a time when Bitcoin was just emerging.

UK prosecutors have charged a group of individuals with the kidnapping of Chinese businessman Dylan Huang. Law enforcement reports reveal that the criminals sought a ransom of $15 million in BTC, while subjecting him to threats, physical assault, and confinement for over 30 hours.

The United Kingdom is set to introduce a draft of comprehensive crypto regulation rules in early 2025.

Cartwright, a large pension advisor in the UK, announced allocating 3% of its assets to Bitcoin. This is a first-of-its-kind Bitcoin investment move by pension specialists in the country.

In a move that feels like it’s straight out of a crypto-thriller, the UK government proposed a new legislation aimed at clarifying the legal status of digital assets such as cryptocurrencies, NFTs, and others. Known as the Property (Digital Assets etc.) Bill, this marks a significant milestone in providing legal recognition for all digital assets, classifying them as personal property.

The UK government is set to convince financial firm Revolut, which also offers cryptocurrency services, to conduct its initial public offering (IPO) in London rather than New York. City Minister Tulip Siddiq plans to meet with company representatives this fall to discuss the proposal.

The UK financial regulator, FCA, fined CB Payments Limited (CBPL), a subsidiary of Coinbase Group, £3,503,546 (approximately $4.5 million) for servicing high-risk clients.

A study by SAS reveals that China is at the forefront of global AI implementation, with 83% of companies utilizing artificial intelligence. This is notably higher than the adoption rates in the UK (70%), the US (65%), and Australia (63%), with the global average at 53%.

Amanda Pritchard, the Chief Executive Officer of NHS England, has noted a significant rise in the number of people seeking help for issues related to cryptocurrency betting and trading.

A group of Chinese investors victimized by a fraudulent scheme has appealed to their government for assistance in reclaiming funds discovered in the UK.

This fall, the Financial Conduct Authority and the Bank of England are set to introduce the first group of projects to the Digital Securities Sandbox.

The UK's Financial Conduct Authority (FCA) will start accepting applications for Bitcoin and Ethereum crypto cETNs (Exchange Traded Notes).