Blockchain 

Crypto Debit Card Firm Cryptopay Launches UK Bank Transfers With British Pound

Crypto wallet and debit card service company Cryptopay now offers transfers with the British Pound (GBP) through the Faster Payments Scheme. Cryptopay revealed the development in a press release with Cointelegraph on Oct. 9, specifying that its United Kingdom-based users can now fund their accounts and make withdrawals with GBP, avoiding GBP to euro conversion charges. The release further explains: “Upon activation users will get their own sort code and account number, which means that the transfers will bear the account holder’s name, not Cryptopay. This is especially important as…

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Bitcoin 

British Police to Auction Off $600,000 in Confiscated Bitcoin Today

The British police are auctioning off half a million sterling ($621,400) worth of seized Bitcoin (BTC), the London Economic reported on Sept. 25. The funds were reportedly seized from a criminal who had offered his hacking services in exchange for Bitcoin and had illegally stolen and sold personal data. The sale represents the first time that forfeited cryptocurrency funds are sold on behalf of the United Kingdom authorities, according to the report. Beyond Bitcoin, the police are also selling-off assets belonging to the criminal, including cars,  diamond jewelry and a…

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Ethereum 

Crypto Criminals Send Scam Emails Impersonating British Financial Watchdog

Cyber criminals have been sending scam emails claiming to be from the United Kingdom Financial Conduct Authority (FCA) and promoting crypto assets investments, financial market-focused platform FT Adviser reported on July 22. The letter impersonating the FCA is entitled “Guaranteed chance to earn” and features the watchdog’s logo and branding. After reading that “Bitcoin is still a long way off its peak price of $20,000, which it reached in 2017, but some cryptocurrency experts believe it could hit an even higher value by 2020,” it offers recipients to follow a…

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Ethereum 

‘Open to Massive Fraud’ — British MP Wants to Probe Facebook’s Libra

Damian Collins, a senior official at the British Parliament and known critic of Facebook, wants to probe the firm’s crypto project Libra. Damian Collins says Libra is going to be open to massive fraud  Collins, chairman of the British Parliament’s Digital, Culture, Media and Sport Committee, who led an 18-month investigation into the company following the Cambridge Analytica data scandal, reiterated his negative stance to Facebook in an interview with Financial News on July 22. Member of Parliament (MP) at the lower house of the United Kingdom’s Parliament, Collins pointed…

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Ethereum 

British Regulator FCA Prepares a Potential Ban of Crypto CFDs for Retail Investors

British financial watchdog, the Financial Conduct Authority (FCA), is preparing a potential ban on the sale of crypto derivatives to retail investors, according to an official document released on July 1. In the document, titled “Restricting contract for difference products sold to retail clients,” the FCA revealed that the regulator will soon publish a consultation paper (CP) on a potential ban on crypto derivatives such as bitcoin (BTC) futures and other crypto-related trading products. The FCA wrote: “We will shortly publish a CP on a potential ban on the sale…

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Blockchain 

Binance Cryptocurrency Exchange Testing British Pound Stablecoin

Major cryptocurrency exchange Binance is apparently testing a British pound stablecoin on its native blockchain, Binance Chain, according to a Twitter post on June 3. Twitter user CryptosBatman noticed that the listing “$BGBP” appeared on the Binance platform. Screenshot of stablecoin on Binance Chain. Source: Twitter Binance CEO Changpeng Zhao has commented on the tweet, confirming that a pound stablecoin is in the testing phase, with only £200 minted. Zhao came under fire last month for posting about potentially rolling back transactions (re-org) on the exchange after a $40 million…

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Blockchain 

Saudi British Bank Launches Ripple-Powered Instant Cross-Border Transfer Service

Saudi British Bank (SABB) has launched an instant cross-border transfer service powered by Ripple, according to a news release on April 25. The bank said the technology, unveiled at the Financial Sector Conference in Riyadh on April 24 and 25, formed part of its “strategic plan towards digital transformation and enriching customer experience.” According to SABB, it was one of the first banks in Saudi Arabia to join Ripple’s network in January 2018. The technology was then successfully activated through a pilot transaction in December 2018 using Indian rupees. Majed…

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Blockchain 

British Virgin Islands, Blockchain Firm Develop Crypto Payments System for Emergency Aid

The British Virgin Islands — a United Kingdom Overseas Territory in the Carribean — has partnered with blockchain firm Lifelabs.io to launch an alternative crypto-enabled payments infrastructure for residents across its network of islands. The development was reported in a BVI government press release on April 18. The partnership notably heralds a particular focus on using a crypto infrastructure to support the reliable and swift transfer of aid and access to funds in emergency scenarios. The BVI government will implement Lifelabs’ blockchain Platform as a Service (PaaS), which reportedly reduces…

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Blockchain 

British Royal, US Ambassador Say Tech, Blockchain Can Help Fight Human Trafficking

Princess Eugenie of the United Kingdom and United States anti-human trafficking Ambassador John Richmond recently spoke in favor of using new technology like phone apps and blockchain to address human trafficking, Reuters reports on April 8. At a conference in Vienna, Austria hosted by the Organization for Security and Co-operation in Europe (OSCE), experts noted that increased internet usage has expanded the ability of traffickers to exploit potential targets. However, Princess Eugenie — the granddaughter of Queen Elizabeth — reportedly noted that technology could also help fight trafficking. Eugenie, who…

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