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Coinbase and Barclays Part Ways, Will UK Users Be Affected?

It is being reported that Barclays, the London-based global bank, recently stopped banking for Coinbase, the United States-based crypto exchange. Coinbase reportedly found a quick replacement in the form of another United Kingdom-based establishment, ClearBank.  While Barclays connected San Francisco-based Coinbase to the U.K. Faster Payments Scheme (FPS), enabling instant withdrawals and deposits of British …

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Barclays May Be Ending Work With Coinbase, Transactions in GBP to Slow

British banking giant Barclays has reportedly cut ties with United States crypto exchange Coinbase. As Coindesk reported on August 13, unnamed industry sources have said that Barclays will no longer be banking for Coinbase, severing a relationship that began when Coinbase opened a Barclays account in March 2018. The news is expected to hit the …

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Crypto Trading App Robinhood Launching in UK Following FCA Approval

A subsidiary of United States-based stock and crypto trading app Robinhood has been approved to operate as a broker in the United Kingdom. Robinhood approved to operate as a broker in the UK Robinhood International, Robinhood subsidiary, has received regulatory approval from major British regulator, the Financial Conduct Authority (FCA), according to a blog post …

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UK’s Tax Authority Requests User Data From Crypto Exchanges: Report

The United Kingdom’s tax, payments and customs authority Her Majesty’s Revenue & Customs (HMRC) has reportedly requested that digital currency exchanges provide it with information about customers’ names and transactions aiming to identify cases of tax evasion. Crypto exchanges come under fire According to fintech-focused media outlet Coindesk, industry sources said that the agency has …

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Kraken Installs Crypto OTC Guru as CEO of Bitcoin Futures Platform

United States cryptocurrency exchange Kraken has hired the ex CEO of over-the-counter (OTC) trading platform B2C2 to head its new Bitcoin futures operation. Kevin Beardsley, who previously led the United Kingdom-based company for a year, will now oversee Kraken Futures’ expansion as volumes hit $2.5 billion in June.  Beardsley confirmed the news linking to comments …

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Roubini: BitMEX in Violation of Securities Laws, Crypto a Metastasized Cancer

Economist and anti-cryptocurrency pundit Nouriel Roubini has recently declared that there is “overwhelming evidence of rampant fraud and abuse” in the crypto space.  Roubini, a professor at NYU’s Stern School of Business, also took aim specifically at the compliance policies of crypto exchange BitMEX in an essay entitled “The Great Crypto Heist.” The essay was …

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Middle East Blockchain Development Primed to Lead the Global Industry

While we often get to hear about how cryptocurrency adoption is rapidly gaining ground in the West, a number of countries across the Middle East — such as Bahrain, the United Arab Emirates and Saudi Arabia — often tend to get overlooked, despite them having made tremendous strides when it comes to establishing regulatory frameworks …

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Crypto Friendly Regulation can Help UK Brexit, Says $10 Billion Advisory Giant

The CEO of financial advisory giant deVere Group said positive cryptocurrency regulation should form a central part of the post-Brexit United Kingdom. Nigel Green made the comments in an interview with fintech news outlet Verdict on July 9. DeVere, which has around $10 billion of assets under advice, is concerned the U.K. will end up …

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Bitcoin Mining Profits Skyrocketed 24% Last Month, Argo Blockchain Reports

United Kingdom bitcoin (BTC) mining operator Argo Blockchain surpassed its own expectations in Q2, the company said in a new report released on July 2.  Argo, which previously said it had benefited from the upturn in bitcoin prices, said revenues would continue to improve over previous estimates.  “The Company now expects to generate 161 BTC, …

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U.K.’s Biggest Store Tesco Pumps Bitcoin With ‘Bill Gates’ Twitter Scam

The largest supermarket chain in the United Kingdom was left red-faced this week after hackers took over its Twitter account to promote a bitcoin (BTC) scam. The news surfaced via IT magazine Bleeping Computer on June 25. Tesco, which has almost 550,000 Twitter followers, lost control of its account and began claiming it would give …

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