UK
Why UK Financial Watchdog Wants to Shut Down Crypto ATMs
The U.K.'s Financial Conduct Authority (FCA) has stated that crypto ATMs operating in the country are illegal due to money laundering regulations. “The Hash” hosts examine how this might affect crypto usage, noting the privacy benefits of bitcoin ATMs and the possible impact on Ukrainian refugees who are fleeing their country with their savings in cryptocurrency assets.
UK Post Office to Offer Crypto Purchases to Some Customers Starting Next Week
Beginning next week, the U.K.’s Post Office will offer users the ability to purchase crypto through its identity-verification service, EasyID, using a voucher system from Swarm Markets. Some suggest the integration may expose more people to decentralized finance (DeFi) through Swarm’s yield farming offering.
HSBC UK Blocks Payments to Binance Exchange
Banking giant HSBC is blocking its U.K. customers from using credit cards to make payments to Binance after the Financial Conduct Authority (FCA)’s announcement in June saying the crypto exchange cannot conduct regulated activities in the country. “The Hash” panel discusses the latest enforcement action against Binance, possibly signaling the future of centralized exchanges.
UK Cops Seize Nearly $250M in Crypto Tied to Money Laundering
British police announced Tuesday they seized almost $250 million in crypto amid ongoing investigations into international money laundering. “The Hash” team discusses the potentially false narrative of crypto’s role in illicit activity. “Of all the transaction volume that cryptocurrencies have, only roughly 2% is used for criminal activity,” host Christine Kim said.
UK Binance Users Locked Out From Faster Payments System
In a letter to its U.K. customers, Binance said Monday that any pound sterling withdrawals or transactions on the platform via the Faster Payments network would not be processed. CoinDesk’s Nikhilesh De weighs in on what this means for Binance and its users.
ETC Group Launches First Bitcoin ETP in UK on Aquis Exchange
Britain has been green-lighting some bitcoin exchange-traded products (ETPs) on the Aquis exchange. Earlier this month, ETC Group, a U.K. provider of cryptocurrency-related instruments, launched their own offering as the first crypto ETP to be made available for trading on the U.K. market. ETC Group CEO Bradley Duke discusses the launch, inflation, bitcoin as legal tender, and growth of ETPs in Europe.
