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McKinsey Advisor: Blockchain May Kill Off the City of London and NHS

News According to a senior advisor at consultancy firm McKinsey, John Straw, blockchain could make the City of London irrelevant in the near future. He made the claim at a Computing.co.uk Live Event on Oct. 24. Straw added that this could result in a breakdown of the United Kingdom’s tax system, ..

Crypto Derivatives Ban: UK Govt Won’t Interfere with FCA Decision

The UK government says it has no power to interfere with any decision by the Financial Conduct Authority (FCA) regarding the fate of crypto derivatives. This report comes amid speculation that the financial watchdog is moving to ban crypto derivatives over investor protection concerns. Meanwhile, s..

UK’s Central Bank Establishes Provisions for Facebook’s Libra

News The United Kingdom’s central bank has established provisions that Facebook’s yet-to-be-released Libra stablecoin must comply with in order to be issued in the country. The Bank of England presented its latest Financial Policy Summary and Record at a Financial Policy Committee (FPC) meeting he..

Crypto Debit Card Firm Cryptopay Launches UK Bank Transfers With British Pound

News Crypto wallet and debit card service company Cryptopay now offers transfers with the British Pound (GBP) through the Faster Payments Scheme. Cryptopay revealed the development in a press release with Cointelegraph on Oct. 9, specifying that its United Kingdom-based users can now fund their ac..

Crypto Derivatives Ban Is Not a Good Idea, Says WFE

The World Federation of Exchanges (WFE) has faulted the reported plan by UK regulators to ban crypto derivatives. This message comes after UK’s top financial regulatory body revealed it had concluded deliberations on the matter and may ban trading on crypto derivatives from 2020. Meanwhile, authori..

ConsenSys-Backed Identity Platform Partners With PwC

News ConsenSys-backed identity management protocol uPort has entered a partnership with Onfido and PwC to develop blockchain-based identity management in the United Kingdom's financial sector. In a Sept. 23 announcement, the Ethereum-based digital identity platform uPort said the three firms ..

Reuters: Facebook Met British Authorities Prior to Libra’s Official Announcement

News Facebook reportedly met British authorities and regulatory officials three times prior to publicly announcing plans for the Libra stablecoin project. As Reuters reported on Sept. 18, this spring Facebook had several appointments with officials at Britain’s finance ministry, the Financial Cond..

New Study Reveals Countries With Most Registered Crypto Exchanges

News The United Kingdom, the United States, Hong Kong and Singapore have the largest number of registered digital currency exchanges, according to data from Bitfury’s blockchain analytics platform Crystal. Crystal published its “Report on International Bitcoin Flows 2013–2019” on Sept. 9, in which..

How Brexit Will Affect the UK Fintech Industry? Experts Answer

Experts Answer Back in 2016, there was a referendum that caused Brexit, which has since been affecting all spheres of British life. Would Brexit’s effects be positive or negative for the fintech industry in the United Kingdom? We asked experts from the London Fintech Week, the U.K. in a Changing E..

Could Britain’s Brexit Boost Bitcoin to New All-Time Highs?

A number of fundamentals have been driving Bitcoin in recent weeks, such as the escalating US China trade war and the UK’s exit from the EU. Some analysts foresee a new all-time high for BTC on the back of one of these events. Bitcoin Boosted by Economic Woes According to a report in the Independen..

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