British banking titan Standard Chartered is reportedly going to roll out a Bitcoin (BTC) and Ethereum (ETH) trading desk based in London. According to a new report by Bloomberg, anonymous sources familiar with the matter say that the financial services giant is venturing into the world of spot market crypto trading. The sources say that […]
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The former Wall Street and City of London banker is making his second bid to become mayor of London.
Pro-crypto American businessman Brian Rose is running for London mayor again.
Londoners go to the polls on May 2 to elect their next mayor, with incumbent Sadiq Khan and Susan Hall as leading candidates.
Rose previously stood for election in 2021, securing 1.2% of the vote, but expects to improve on that tally this time around.
In a LinkedIn job posting the London Stock Exchange Group says it's seeking a digital assets lead with a “passion” for digital assets, crypto and blockchain.
The London Stock Exchange Group (LSEG), the parent company of the London Stock Exchange and other fintech companies, has posted on LinkedIn that it's seeking a director of digital assets.
LSEG says it is looking for candidates who have a “passion for and understanding of digital assets, cryptocurrencies and distributed ledger technology,” among other skills and requirements.
According to the posting the future digital asset manager for LSEG will be helping the company outline and deploy a commercial strategy for “a suite of new infrastructure solutions and capabilities, as well as developing LSEG’s brand and ecosystem in digital private markets.”
A representative from LSEG told Cointelegraph that it could not provide any further details on the development at the time.
Related: London Stock Exchange Group may provide clearing services for BTC derivatives in Q4
This latest development after the London Stock Exchange announced that it will create a traditional assets trading platform using blockchain technology. On Sept. 4, the legacy financial institution said it plans to use the technology to enhance the efficiency of holding, buying and selling traditional assets.
However, Murray Roos, the LSE Group’s head of capital markets, said at the time that it would not be building anything around cryptocurrencies.
The United Kingdom has been cracking down on its local crypto scene after passing a bill allowing authorities to seize Bitcoin (BTC) used for crime and announced plans for upcoming stablecoin regulations in October.
In September, the U.K. financial watchdog gave crypto companies a marketing compliance warning and a deadline to align with its standards by January 2024.
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London’s Metropolitan Police have reportedly assembled a 40-person team dedicated to cracking down on crypto crime. According to a new report from the Financial Times, the police force’s crypto team began recruiting last December and became operational in May. Detective Inspector Geoff Donoghue, who works on the Met’s crypto investigation team, tells the FT that […]
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The ideal candidate to join the National Crime Agency will be an existing member of the police staff who is a certified, accredited financial investigator.
The National Crime Agency (NCA) of the United Kingdom is hiring two blockchain investigators for its newly-formed digital assets team within the Complex Financial Crime Team (CFCT) to tackle crypto crimes.
The job involves overseeing complex investigations involving cryptocurrency and digital assets from a Proceeds of Crime Act (POCA) perspective. The POCA relates to confiscating and redirecting crime money toward community benefit.
The ideal candidate will be an existing member of the police staff who is a certified, accredited financial investigator (AFI). In addition, other requirement includes experience in blockchain analysis, criminal investigation and understanding of the legislation, among others.
The job pays a salary of approximately 47,380 British pounds ($61,076.37) on top of other civil service benefits schemes.
Related: US Justice Department to double its crypto team, target ransomware crimes
In January 2023, the NCA formed a dedicated cryptocurrency unit — NCCU Crypto Cell — to investigate cyber incidents involving the use of cryptocurrencies like Bitcoin (BTC).
The NCA’s move aims to increase regulatory focus on crypto assets in the U.K. amid the government’s call to eliminate “dirty money” in the country. “This is a really exciting opportunity which involves working in a team at the forefront of protecting the U.K. from cybercrime,” NCA infrastructure investigations director Chris Lewis-Evans told Cointelegraph at the time.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
Magazine: Tokenizing music royalties as NFTs could help the next Taylor Swift
The project has faced criticism from within the fintech world over its dystopian features and privacy concerns.
The newly launched controversial crypto and ID project Worldcoin could face inquiries from data regulators in the United Kingdom as it raises concerns over privacy and critical biometric data safety, according to a Reuters report.
The Information Commissioner’s Office (ICO) — the U.K.’s data regulatory body — acknowledged the launch of the crypto project in the country, and said it would examine the project and make further inquiries concerning data laws, reported Reuters.
When Cointelegraph reached out to the ICO to ask about its reported probe into Worldcoin, the agency declined to comment. A spokesperson for the regulator said that they “have not announced anything publicly to confirm or deny if we are looking into Worldcoin. Until then, I would not be able to pass comments.”
The digital identification-centered crypto project launched on July 24 and was co-founded by OpenAI’s CEO Sam Altman. The project secured $115 million in funding in May from Andreessen Horowitz, Bain Capital Crypto and Distributed Global. Worldcoin onboarded over 2 million users during its beta phase despite many sharing concerns over the nature of the project.
Related: OpenAI CEO Sam Altman testifies in ‘historic’ Senate hearing on AI safety
While those numbers might look impressive, a study by MIT Technology Review claimed that the majority of the first one million users were onboarded using “deception, cash handouts and exploiting workers” in developing countries. Several aspects of the project have not gone down well with the crypto community, from concerns over the security of users’ biometric data to privacy concerns.
A global database of human IDs issued after an eye scan, paid for with useless Worldcoin token, connected with all financial transaction data of each individual managed by a centralized non-profit collecting sensitive data for KYC/AML.
— Anita ⚡️ Bitcoin for Fairness (@AnitaPosch) July 24, 2023
WHAT COULD GO WRONG? https://t.co/8K6R17vBb0
Apart from an inquiry in the U.K., Worldcoin’s native token WLD will not launch in the U.S., with none of the U.S.-based exchanges, such as Coinbase or Kraken, listing it. The project developers cited regulatory concerns in the U.S. as the key reason behind the decision. However, many crypto proponents believe it qualifies as an unregistered security.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
Magazine: Tokenizing music royalties as NFTs could help the next Taylor Swift
Bitcoin pitch invasion! A new Cointelegraph video examines a local soccer club’s impact on its town and national Bitcoin adoption.
Can a football team backed by Bitcoin (BTC) really raise up a town? In the latest Cointelegraph documentary, reporter Joe Hall investigates the impact of a Bitcoin football club, Real Bedford, on the small commuter town of Bedford in the United Kingdom.
Peter McCormack, the renowned host of the What Bitcoin Did podcast, bought Real Bedford Football Club in 2021 during the peak of the Bitcoin bull run.
While many questioned his decision, McCormack saw an opportunity to revive a football club and promote Bitcoin adoption in his hometown. Two years later, Real Bedford F.C. has gained promotion, secured significant sponsorships, and attracted a legion of local and international fans.
As the video demonstrates, the club’s bright orange jerseys proudly display the Bitcoin logo, symbolizing its close association with the world’s largest digital currency. Before each game, Bitcoin meetups are organized and influential figures from the Bitcoin world are invited to attend.
Naturally, the manager’s unconventional approach has sparked curiosity and criticism, with some locals skeptical of the Bitcoin branding and its implications. Hall asks locals in street interviews and pitchside conversations how much influence the club has had on the town. Some are familiar with the club’s Bitcoin takeover; others had never heard of McCormack, with the overarching sentiment being negative.
McCormack, however, aims to dispel misunderstandings and facilitate greater Bitcoin adoption through the football club. Rather than forcing the currency on the town's residents, he believes in using the team as a Trojan horse to introduce them to Bitcoin gradually. The Real Bedford website even features a statement titled "Why you shouldn't buy Bitcoin," emphasizing the importance of education and responsible investment.
The Trojan football ☠️ pic.twitter.com/fh77fufvcx
— Peter McCormack☠️ (@PeterMcCormack) April 11, 2023
While Real Bedford remains a Bitcoin-only club, McCormack acknowledges the allure of other cryptocurrencies and crypto-related projects:
“If I did a shitcoin, I could raise a billion and I would get this club in the Premier League in nine years because you have the money to do it. I could build a £200 million stadium if I did a shit coin. It's really tempting.”
Nonetheless, McCormack is committed to Bitcoin's principles. He is convinced that through hard work, and the support of the Bitcoin community, Real Bedford could reach the Premier League in the 2030s.
Featuring interviews with Jeff Booth, Ben Arc, fans, and locals, The Real Bedford documentary will shed light on the Real Bedford story, showcasing the transformative power of Bitcoin in sports and local communities.
While the United Kingdom warms up to Central Bank Digital Currencies–despite the Bitcoin community’s best wishes–Bitcoin could lose a foothold in the country. In such an environment, Real Bedford is increasingly a beacon for Bitcoin adoption in the United Kingdom.
Related: Bitcoin soccer club Real Bedford FC wins the league
Overall, and to pinch Barcelona’s motto, Real Bedford is “mes que un club”, or “more than a club.” It’s a symbol of resilience, rebellion, and a real-world example of Bitcoin’s ability to raise up areas.
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It’s unclear at this time what access the U.K. will receive, but the reported commitment could be the first of its kind.
British Prime Minister Rishi Sunak recently announced that Google DeepMind, OpenAI, and Anthropic — three tech outfits widely considered the global industry leaders in generative AI technologies — have agreed to provide the United Kingdom with early access to their AI models.
Sunak made the announcement during a speech opening London Tech Week, an event described by organizers as “a global celebration of tech, uniting the most innovative thinkers and talent of tomorrow in a week-long festival.”
He made the comment while explaining a three-part plan to ensure AI systems in the U.K. are deployed in a safe and secure manner. The first step, per a transcript of the speech, is to perform cutting-edge safety research:
“We’re working with the frontier labs - Google DeepMind, OpenAI and Anthropic. And I’m pleased to announce they’ve committed to give early or priority access to models for research and safety purposes to help build better evaluations and help us better understand the opportunities and risks of these systems.”
The prime minister went on to explain that the second step of the U.K.’s plan is the recognition that AI, as a technology, doesn’t “respect traditional national borders,” thus necessitating the formation of a global task force.
Finally, the third step, per Sunak, is to invest in both AI and quantum to “seize the extraordinary potential of AI to improve people’s lives.” He cited recent investments in the amounts of $1.125 billion and $2.75 billion, for compute and quantum technologies, respectively, as steps the U.K. had already taken towards accomplishing this goal.
Related: Crypto ads face stricter rules, referral bonus ban by UK FCA
It remains unclear at this time exactly what form of “early or priority” access the U.K. government will obtain or when such access will be afforded.
Google DeepMind, OpenAI, and Anthropic have historically offered betas and limited preview versions of their large language models (such as Google’s Bard, OpenAI’s ChatGPT, and Anthropic’s Claude). All three companies have also invested in both internal testing with company scientists and external testing with contracted experts.
The prime minister didn’t make it clear whether the U.K. would obtain earlier access to production models than the general public or contractors or if the commitment was simply to offer access to the government as well as other priority researchers.
These comments come at an active time for the U.K.’s regulatory efforts. Not only is parliament racing to come up with comprehensive protections for citizens relative to the recent generative AI boom, but it's also facing increasing pressure to regulate cryptocurrency, blockchain, and Web3 technologies.
Can a Bitcoin-boosted football club breathe life into a tired town in the United Kingdom? This week’s “Decentralize with Cointelegraph” podcast tours Bedford.
This week’s episode of the Decentralize with Cointelegraph podcast takes a deep dive into Bitcoin (BTC) in Bedford. A Bitcoiner from the English town near London is turning heads and raising his town’s profile after buying his local soccer club, Real Bedford.
Peter McCormack, who took the No. 38 spot on Cointelegraph’s 2023 Top 100, hosts a Bitcoin podcast and is an avid soccer fan. At the start of the soccer season in August 2022, he told Cointelegraph that winning the league would put Bedford on the Bitcoin map.
Nine months on, Real Bedford has fulfilled that promise. It won the United Kingdom’s South Midlands League and was promoted. However, has the move from the Bitcoin soccer club galvanized the locals or just grated on them? And how does running it work on the ground?
Cointelegraph traveled to Real Bedford’s final home game of the season to interview fans, locals and Bitcoin advocates from around the world to understand the whys and hows of the Bitcoin soccer club. From the club’s commentator to a Liberal Democrat councillor to well-known Bitcoin advocate Jeff Booth, this week’s podcast takes listeners on a whistlestop tour of Bedford.
An underdog story that explores themes of competition, community and Bitcoin awareness in the United Kingdom, it’s clear that Real Bedford has taken the Bitcoin community by storm.
Cointelegraph also caught up with McCormack pitchside during his What Bitcoin Did podcast live event to quibble about whether he was pursuing a personal passion project or the stakes were greater.
Moreover, with the price per Bitcoin still wallowing under $30,000, the production seeks to highlight that there is more than a speculative streak to the world’s largest cryptocurrency. McCormack explained:
“I think the thing about Bitcoin now is it’s not about Bitcoin. It’s Nostr, it’s Bitcoin, it’s mainstream media lies, it is poor governance and regulation.”
It’s not about “I’m going to get Bedford to buy Bitcoin,” he continued. He wants to be careful in curating the club’s image in the town, and the Real Bedford website even has a blog post titled “Why you shouldn’t buy Bitcoin.”
The headline, however, is that this lower-league football team appears to be evolving into a bastion for Bitcoin adoption in the United Kingdom — listen to the Decentralize with Cointelegraph podcast on Spotify, Apple Podcasts, Google Podcasts or your favorite platform to learn how.
Amid swirling regulatory uncertainty in the United States, top American crypto exchange Coinbase is emphasizing its efforts to make inroads in the United Kingdom. While visiting London this week for UK FinTech Week 2023, Coinbase CEO Brian Armstrong and met with MP Andrew Griffith, the UK’s economic secretary to the Treasury. Says the Coinbase CEO […]
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