Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,071 trillion. Bitcoin is up by over 3% after a successful week. Ethereum decreased by almost 2% over the past seven days. XRP gained nearly 2% in value this week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
UK
UK Authorities to Hire Crypto Investigator at $50k Salary
According to a notice on recruitment site Civil Service Jobs, the UK’s leading crime commission is on the hunt for a crypto investigator. NCA Launches Crypto-specific Unit Per the posting, the new opening falls beneath a project from the agency’s cyber-focused division, the National Cyber Crime Unit (NCCU). The NCCU reportedly has plans to set up a “specialized cryptocurrency and virtual assets team.” The aforementioned unit dubbed the “NCCU Crypto Cell” will have a starting workforce of just 5 personnel.…
4 weeks ago 784 views
Crypto Enforcement Officers in Every Unit – UK Police Council
The United Kingdom National Police Chiefs' Council reportedly has officers trained for crypto enforcement in police forces throughout the region. Detective chief superintendent Andrew Gould revealed this during a discussion on the U.K. Economic Crime and Corporate Transparency Bill on Oct 25. UK Officers Equipped to Handle Crypto Crime King Charles announced the aforementioned bill in May and by September it had made its way to Parliament. The policy seeks to eradicate “dirty money” within the nation. It also aims…
3 months ago 760 views
StanChart-backed Zodia Markets Goes Live in the UK
Zodia Markets, a crypto exchange focused on institutions, has launched in the UK after registering with the Financial Conduct Authority (FCA). The company, which is a subsidiary of Zodia Custody, announced on July 28. By registering with the FCA, Zodia Markets can now offer UK-based institutional customers crypto trading and brokerage services. According to the announcement, Zodia Markets is the first international bank-backed crypto business that the FCA has listed on the UK Financial Services Register. Commenting on this development,…
6 months ago 585 views
UK Reneges on Earlier Plan to Collect Private Wallet Data
UK amends proposal to bind only private crypto wallets with high risk of illegal finance. The government of the United Kingdom has backtracked on a controversial proposal that requires private data collection. Previously, the rule indicated that fund senders must ID all receiving crypto-asset wallets before completing transactions. However, an amendment on Monday has restricted the proposal to only transactions that pose a risk of illegal finance. Background on UK's KYC Proposal July 2021 saw the UK government pass…
7 months ago 821 views
FCA to Close Down Crypto ATMs in the UK
UK's Financial Conduct Authority ordered crypto enterprises in the country to cease ATM services immediately. This order applies to all 81 crypto ATMs installed in the United Kingdom. The FCA warned that organizations failing to comply with this command promptly would face severe punishment. According to the FCA, none of these companies have a license to offer on-ramp or off-ramp services. Thus, firms providing these cash-dispensing machines have to register with the FCA first to obtain authorization, they said in…
11 months ago 1.2 k views
UK Regulator Bans Misleading Crypto Ads
The Advertising Standards Authority (ASA), the UK's independent advertising regulator, has again intervened in the UK crypto market. A few days ago, the advertising authority issued several orders on violations involving six crypto companies. These companies also include big names among the most popular exchanges in the sector, including several brokers. Within this article, we will better analyze the decision of the ASA, studying its context and reasoning over its nuances. What didn’t the regulator appreciate? The ASA explained that,…
1 year ago 725 views
UK hospitals use blockchain to monitor storage of Covid-19 vaccines
Hospitals in the UK are using the Hedera Hashgragh (HBAR) network to monitor coronavirus vaccines' cold chain. This is a major milestone as wider rollout to National Health Service (NHS) hospitals is planned as vaccine distribution progresses. Blockchain offers effective tracking of Covid-19 Vaccines supply chain Public hospitals in the UK are monitoring the storage of coronavirus vaccines with distributed ledger technology. The solution was developed by the company Everyware in collaboration with Hedera Hashgraph (HBAR). Covid-19 vaccines must be…
2 years ago 472 views
UK Drafting Proposal to Regulate Stablecoins and Private Cryptocurrency
The United Kingdom has announced plans to research stablecoins and a central bank digital currency (CBDC). The Treasury Department of the United Kingdom is drafting proposals to regulate private stablecoins and investigate digital currencies as an alternative to cash. This news is coming off the back of the UK's recent departure from the European Union (EU). The government is now looking for productive and innovative ways to improve its financial sector. In an official announcement, the UK Treasury Chancellor Rishi…
2 years ago 490 views
Binance Sentry Releases a Report Shedding Light on Cryptocurrency Scams
The leading cryptocurrency exchange Binance released a report explaining the way scams targeting cryptocurrency investors attempt to achieve credibility. The report, released on June 30, noted that the observations are based on an examination of reports of fraudulent investment schemes which promises quick or exponential returns on cryptocurrency investments. Binance Sentry which is an internal risk intelligence unit structured within Binance’s security team examined the reports, thereby coming up with its observations. However, the frauds go beyond cryptocurrency but likewise include forex,…
3 years ago 515 views