GBP Financial News

Schroders is participating in the MAS’s Project Guardian initiative to develop a “digital asset ecosystem” in Singapore.

In an email to customers, Binance says it will suspend sterling deposits and withdrawals via card and Faster Payments from 22 May. The exchange says the move has been forced by Paysafe subsidiary Skrill's decision to stop offering fiat services. Less than one per cent of Binance customers are affected and those that are can still access their GBP balances. The sterling news comes shortly after Binance had to suspend all dollar bank transfers and amidst growing regulatory scrutiny of the exchange in the wake of the FTX collapse. Th US Justice Department is investigating the firm over suspected money laundering and sanctions violations while the SEC is eying its BUSD stablecoin. Binance says it is working to find an alternative to Paysafe but a partner could be hard to come by. In 2021, the exchange lost access to Faster Payments after the FCA ordered it to stop regulated activities in the UK. The following year, it regained access via Paysafe but even then the FCA raised concerns about the move while conceding that is had "limited powers" to object. Now, Skrill says it has "concluded that the UK regulatory environment in relation to crypto is too challenging to offer this service at this time".

Binance, the world's largest non-custodian crypto exchange, will no longer be able to process withdrawals and deposits for its UK clients after its local banking partner terminated its operating agreement amid chaos in the crypto industry.

The exchange says the move has been forced by Paysafe subsidiary Skrill's decision to stop offering fiat services.Less than one per cent of Binance customers are affected and those that are can still access their GBP balances.The sterling news comes shortly after Binance had to suspend all dollar bank transfers and amidst growing regulatory scrutiny of the exchange in the wake of the FTX collapse. Th US Justice Department is investigating the firm over suspected money laundering and sanctions violations while the SEC is eying its BUSD stablecoin.Binance says it is working to find an alternative to Paysafe but a partner could be hard to come by.

LONDON — British Finance Minister Jeremy Hunt will deliver the government's Budget commitments on Wednesday against a better-than-expected economic backdrop, but economists expect him to stay cautious for now.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Ethereum [ETH] volumes have been all over the place in the last three months and more so in September. Perhaps an expected outcome, given the drastic changes that have taken place in the crypto market during the month.

Being long on the bitcoin price is a sounder strategy today than being long on the British Pound as the currency touches historic lows against the US dollar.

Disclaimer: The text below is a press release is not part of Cryptonews.com editorial content.

Backed by investment from Gate Ventures and FunFair Ventures, blackfridge has been established to exploit rising demand for digital asstes in the decentralised economy.The firm is regulated and licensed by the Isle of Man Financial Services Authority, and is required to hold GBP equal to the value of the tokens issued at all times. To ensure further peace of mind for users who may be jumpy at the idea of using a stablecoin following recent travails, KPMG has been engaged to provide a monthly proof of reserve attestations which will confirm that all tokens issued are 100% backed.Nicholas Maybin, COO of poundtoken, says: “Many are aware that the crypto market can be unpredictable, so when trading a stablecoin it’s vital to know that you will always be able to take out what you put in.