A hard drive owner who misplaced his massive trove of Bitcoin (BTC) in a UK landfill years ago is now considering purchasing the dumping ground as a means of recovering his funds. According to a new report by CNN, James Howells – a Welsh man who lost his Bitcoin stash worth a staggering $800 million […]
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The UK landfill where $777,323,760 worth of Bitcoin (BTC) is presumed to have been dumped is reportedly set to close by next year. According to a new report from the BBC, the landfill in Newport, Wales, where a hard drive containing 8,000 Bitcoin is believed to be, is slated to close in the 2025-26 financial […]
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The largest US-based crypto exchange just became the largest Virtual Asset Service Provider (VASP) in the UK following recent regulatory approval. According to a new Coinbase announcement, the exchange has received approval from the Financial Conduct Authority (FCA) to act as a VASP in the United Kingdom. “Coinbase has obtained its VASP registration in the […]
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The UK could potentially sell its multi-billion dollar trove of Bitcoin (BTC) to plug holes in its finances, according to accounting giant RSM. According to blockchain “de-anonymizing” platform Arkham, the UK government holds about $6,270,000,000 worth of Bitcoin, most of it from when it seized coins belonging to convicted money launderer Jian Wen. Prosecutors say […]
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Israel-based retail trading firm eToro is reportedly spurning the London Stock Exchange in hopes of chasing a US initial public offering (IPO). According to a new report by The Financial Times, people familiar with the matter say that the crypto-friendly trading platform has made confidential filings with the U.S. Securities and Exchange Commission (SEC) even […]
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The UK government has unveiled groundbreaking proposals to combat ransomware attacks, focusing on safeguarding critical infrastructure such as hospitals, public services, and transportation networks. These measures aim to diminish the financial appeal of ransomware by banning all public sector entities, including the NHS and local councils, from making ransom payments. This ban extends current restrictions […]
A U.K. court rejected a lawsuit by James Howells seeking to force Newport City Council to allow him to search a landfill for a lost hard drive containing bitcoins. Claim Lacks Realistic Prospects of Success A U.K. court has dismissed a lawsuit filed by James Howells against Newport City Council for its refusal to allow […]
The UK Treasury has amended finance laws to clarify that crypto staking isn’t a collective investment scheme, which a lawyer says is “heavily regulated.”
The UK Treasury has amended a law clarifying that crypto staking — necessary for proof-of-stake blockchains such as Ethereum and Solana — doesn’t fall under the definition of a “collective investment scheme,” which is typically heavily regulated.
A Jan. 8 order from the department amends a section of The Financial Services and Markets Act 2000 about group investments, adding that “arrangements for qualifying cryptoasset staking do not amount to a collective investment scheme [CIS].”
It clarifies that “qualifying cryptoasset staking” means validating transactions on a blockchain, a distributed ledger technology network “or other similar technology.”
The UK’s Financial Conduct Authority (FCA) is reportedly failing in its attempt to ban crypto advertisements so far. Half of all crypto advertisements are still up in the UK, and the FCA has yet to penalize any of the companies, the Financial Times reports. Citing data from a freedom of information request, FT says that […]
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The United Kingdom has a regulatory advantage in the cryptocurrency market.
Opinion by: Pavan Kaur, partner at Gunnercooke
Conventional wisdom would make you believe that the United Kingdom outside the European Union economic bloc is a minnow relative to comparable markets such as China and the United States. Indeed, in traditional trade negotiations, the market size decides the scale and quality of terms that can be negotiated.
In cryptocurrency markets, however, the rules are far from set, and the UK has several overlooked and misunderstood advantages relative to other markets that it would do well to seize on in the current emerging regulatory landscape.
