Bitcoin 

UK Real Estate Firm Accepts Bitcoin for Sale of 150-Year-Old Church

A 150-year-old English church is being sold for $1.5 million with the vendor accepting payment in Bitcoin (BTC). Vendor is willing to receive payment in Bitcoin According to a listing on Rightmove, a major British online real estate portal and property website, a vendor put an 18th-century church converted into a seven-bedroom character property up for sale and is willing to accept Bitcoin as payment. While the property unit is priced at 1.2 million British pounds ($1.5 million), the final price in Bitcoin is to be agreed and confirmed with…

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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 

Coinbase Reinstates Full GBP Support for UK Clients

United States-based crypto exchange Coinbase has reinstated GBP transfers for its United Kingdom customers, according to an official announcement on Oct. 3. Coinbase has also added full support for five new crypto assets — Basic Attention Token (BAT), 0x (ZRX), Augur (REP), Stellar (XLM) and XRP — to GBP wallets, the exchange revealed the same day. Clearbank is reportedly Coinbase’s new banking partner Coinbase had initially rolled out GBP support in 2018 after being granted an e-money license for fiat currency operations from the U.K.’s Financial Conduct Authority.  In parallel,…

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Bitcoin 

UK Startup Launches Crypto Insurance, 24/7 Bitcoin-Monitoring Service

Cardiff-based cryptocurrency insurance startup Coincover has launched an insurance policy covering theft and loss.  Local news outlet Whales247 reported on Sept. 24 that this is “the first and only service to guarantee digital funds held online will not be lost or stolen.”  Coincover’s service reportedly monitors the wallet at all times and issues warnings in case of suspected theft, recovers funds in case of private key loss, manages key backups, provides cash replacement value in case of theft, and checks for any suspicious activity. Making crypto less risky Furthermore, the…

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Bitcoin 

Coinshares Urges Customers to Fight UK Regulator’s Ban on Crypto ETNs

The United Kingdom’s Financial Conduct Authority (FCA) is proposing to ban cryptocurrency exchange-traded notes (ETNs) — but Coinshares, a U.K.-based regulated public exchange, disagrees with that proposal. Claims of insufficient evidence  In a Sept. 23 letter on its website, Coinshares claimed the FCA has not provided enough evidence to justify the proposed ban on crypto ETNs — warning its customers that they will no longer be able to trade such products if the ban is approved. The company added:  “We believe that the FCA has not provided sufficient evidence to justify the…

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Bitcoin 

20% of Affluent UK Millennials Have Invested in Bitcoin: New Survey

London-based law firm Michelmores LLP has surveyed affluent millennials in the United Kingdom and discovered that 20% have invested in Bitcoin (BTC) and other cryptocurrencies.  The survey, reported by FXStreet on Sept. 17, revealed that among those born between 1981 and 1996 with investable assets of £25,000 ($31,000) or more, 20% had invested in the new asset class. Almost 7 times the national average As FXStreet notes, this 20% figure is markedly higher than the national average of 3% — indicating that well-off millennials in the U.K. are almost 7…

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Bitcoin 

UK Employee Explains Why He Chose a 100% Bitcoin Salary

“People always ask how I am coping with living on Bitcoin,” a British software developer told The Mirror in an interview this week, “but the truth is that my lifestyle hasn’t really changed.” The Mirror — a British daily tabloid founded over a century ago — ran its interview with 24-year old Zakk Lakin on Aug. 22.  An employee at crypto exchange Coin Center, Lakin was given the option to receive part — or all — of his salary paid in cryptocurrency, and he went the full monty. 100% Bitcoin…

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Bitcoin 

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 pounds at the exchange, ClearBank won’t offer the exchange the same service until at least the end of Q3 2019. Deposits and withdrawals in pounds for Coinbase’s U.K. customers, which once took seconds, will for…

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Bitcoin 

Santander Joins Bank Blockade Against Coinbase in the UK: Report

Major Spanish bank Santander is reportedly ceasing to enable United Kingdom customers to deposit their fiat funds to major cryptocurrency exchange Coinbase.  An unverified source posting to Reddit on Aug. 14 claims to have been informed of the development over the phone by a  Santander representative. “Isolated to Coinbase,” not crypto in general The source alleges that having been informed over the phone, they put in a complaint with the bank’s complaints unit, which then reportedly confirmed that the client should move to an alternative bank if I wish to…

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Blockchain 

UK Crypto Regulation Is Changing, Recognition Looming at Long Last

The United Kingdom has long been a financial mecca. Ever since the Big Bang and the arrival of Thatcherism in the ‘80s, Britain has cultivated a finance-friendly environment revolving around the city of London, with deregulation inviting a wave of foreign investment and trading activity. However, while it has even been suggested that London will overtake San Francisco as the fintech unicorn capital of the world, the U.K. has been less welcoming of crypto than it has of traditional finance. As industry bodies like CryptoUK as well as other commentators have…

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