The Group of Seven (G7) countries are discussing ways to counter China’s “economic coercion” against other nations, U.S. Treasury Secretary Janet Yellen has shared. Noting that Canada, France, Germany, Italy, Japan, the U.K., and the European Union share similar concerns, she emphasized that any action by the U.S. will be “narrowly scoped and targeted at…
With the European Union coming closer to passing the Markets in Crypto-Assets framework and Kraken in the process of investing in the United Kingdom, lawmakers are taking notice. Some members of the United States House of Representatives’ Financial Services Committee and Agriculture Committee pointed to crypto asset frameworks being employed outside the country when discussing…
Joseph James O’Connor, a 23-year-old British citizen extradited from Spain to the United States on April 26, pleaded guilty to multiple charges, including hacking the social media platform Twitter in 2020. O’Connor, who also uses the online name PlugwalkJoe, has been charged with stealing cryptocurrencies worth $794,000 from a Manhattan-based company through a SIM Swap…
A high court in the United Kingdom recently set aside a proprietary injunction that was issued against the crypto exchange Binance. In its application challenging the injunction, Binance said the action had been taken without notice. Binance also said it could not comply with the injunction since it was granted after the fraudulently acquired crypto…
The FCA’s actions followed similar operations in East London and Leeds, where the regulator said it had issued warnings or cease-and-desist requests to suspected ATM operators. The United Kingdom’s Financial Conduct Authority, or FCA, has announced the inspection of sites across the country “suspected of hosting illegally operated crypto ATMs.” In a May 5 announcement,…
The U.K. Competition and Markets Authority said it would examine AI’s development, deployment and social impact. The United Kingdom’s Competition and Markets Authority (CMA) has turned its attention to artificial intelligence (AI) after announcing an examination of the impact of the technology on consumers and the economy. On May 4, the regulator said it would be…
The lawmaker said the regulation will need to be both “pragmatic” and “proportionate” to ensure economic growth is maximized. The United Kingdom could lay out digital asset regulation within 12 months, a British lawmaker claimed, saying the country wants to capitalize on the benefits that blockchain can bring to the private sector and economy. In…
The Bank of England’s plans for a CBDC launch raises concern among UK Tax Reform Council and the broader Bitcoin community. The U.K. Tax Reform Council has launched a campaign against the Bank of England’s plan to introduce a central bank digital currency (CBDC). The non-profit organization warns that such a move could seriously harm…
Crypto firms in the United Kingdom could face some harsh punishments under the FCA’s proposed financial promotions regime. Newly proposed advertising rules in the United Kingdom could potentially see executives of crypto firms face up to two years of prison for failing to meet certain requirements around promotion, according to the U.K. financial watchdog. In…
The National Crime Agency is looking to counter crypto fraud in the UK by forming a new crypto unit.
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