Britain Financial News

The Singapore-based cryptocurrency exchange, Crypto.com, announced on June 1 that it had been granted a major payment institution (MPI) license for digital payment token (DPT) services by the Monetary Authority of Singapore (MAS).

Hong Kong has decided to let retail investors trade cryptocurrency under its new regulatory regime because «virtual assets are going to stay», the city's minister overseeing financial services said Tuesday.Cryptocurrencies have been banned in mainland China since 2021, but the former British colony, which has a separate financial system and regulators, has announced plans to become a major digital asset hub. From June 1, authorities will begin accepting applications for licences from cryptocurrency exchanges that will allow them to sell major tokens including bitcoin and ether to individual traders. «Despite the potential risks involved, (virtual assets) also carries with it fundamental value,» Christopher Hui, Hong Kong's secretary for financial services and the treasury, told AFP in an interview.

For the more than 300,000 investors trapped in Neil Woodford’s defunct flagship fund, the UK regulator’s announcement in April that they are in line for more than £230m in compensation could not have come soon enough.

In an ongoing adaptation to tighter Australian regulations, Binance, the world's largest cryptocurrency exchange, has announced significant changes affecting its Australian users.

Sign up to the Fintech Files, your weekly fintech and crypto newsletter, brought to you  every Tuesday

The Confederation of British Industry said that it is determined to “learn the lessons” following a wave of sexual misconduct and toxic culture allegations.

Monzo on Wednesday said it hit profitability for the first time this year, in a major milestone for one of the U.K.'s most prominent digital banks.

The head of Barclays' European technology media and telecoms deals team has left for boutique Baird in the latest senior exit from the UK lender.

Millions of American television viewers, including those watching the NBA Finals, will soon see a new national ad campaign run by Coinbase. Titled “Moving America Forward,” the campaign is focused on explaining crypto and illustrating how it can help “update the system.” The ads add to the increasing pressure the company is putting on the United States Securities and Exchange Commission for clarity on digital assets. But no company can operate without a backup plan, which explains why Coinbase also secured a license in Bermuda in April to operate an offshore exchange.

Tyler and Cameron Winklevoss, the billionaire twins behind crypto exchange Gemini, are facing a series of setbacks as issues surrounding their exchange have reached new heights in recent times.

The Big Four accountancy firms will face “more intrusive” scrutiny, according to KPMG’s ex-UK boss Mary O’Connor, as her former employer battles one of the most turbulent periods in its 150-year history. 

debt ceiling stalemate and rising inflation in the UK. Bitcoin, in particular, has been witnessing significant fluctuations, trading between the range of US$26,000 and US$27,500 in recent days. On Thursday, BTC dropped below the US$26,000 level, as bearish pressure intensified in the market. This decline led to BTC reaching its lowest point since May 12th, touching a bottom of US$25,810. In the past 24 hours, Bitcoin's trading range has revolved around the US$26,400 level, showing a gain of over 1%. This increase can be attributed to the release of stronger-than-expected unemployment and productivity data in the United States. However, market sentiment remains heavily influenced by the ongoing negotiations surrounding the debt ceiling, which continues to capture investors' attention. Bitcoin has seen a decline of 9% in its month-to-date performance. Currently, BTC faces a resistance level at US$26,471. If the price manages to close near this level, it could potentially pave the way for further upward movement towards the US$26,600 and US$27,000 levels. Shifting focus to Ethereum, the second largest cryptocurrency, it has recorded a minor gain of 1.8% over the past 24 hours, with the currency trading around US$1,814. Ethereum has shown positive momentum over the past four days. While it has experienced a decline of over 4% in the month-to-date performance, it has surged by more than 50% year-to-date, showcasing its overall upward trend.

On the weekend of King Charles III’s coronation, Tom Mutton walked into a London coffee shop and was handed a leaflet extolling the dangers of central bank digital currencies.

Love Hate Inu CEO Carl Dawkins, a well-known crypto personality, is outraged that social media giant Instagram won’t give him a verification blue tick – and as a result hundreds of people are being scammed.

Researchers using Twitter’s formerly free Decahose data service will soon be required to pay a fee of $42,000 per month to continue using the service and retain their data.

The influential cross-party Committee of MPs declared that cryptocurrencies such as bitcoin have no intrinsic value and serve no useful social purpose, while consuming large amounts of energy and being used by criminals in scams, fraud and money laundering. The Committee's conclusions are at odds with Prime Minister Rishi Sunak's ambitions to make the UK into a global hub for cryptoasset technology.

Concerns about Brexit have taken a backseat as improved relations and less-than-expected job losses have buoyed the City’s outlook.

Profits and assets tumbled at some of the UK's biggest fund groups but a focus on action to bolster women in senior ranks and link ESG targets to work-from-home arrangements has lifted bonuses for top bosses.

LONDON — U.K. borrowing costs are nearing levels not seen since the throes of the bond market crisis triggered by former Prime Minister Liz Truss' disastrous mini-budget.

Amid a broader pullback in the cryptocurrency market on Wednesday as hotter-than-expected UK inflation data triggers jitters about sticky inflation across major global economies that might prevent central bank from being able to cut interest rates in the coming quarters, XRP has been falling.

The UK’s competition watchdog has asked five banks to respond to provisional findings that they broke competition law in the aftermath of the financial crisis by exchanging sensitive information in chatrooms during UK bond transactions.