News involving crypto and fraud is ubiquitous in the white-collar crime sphere and, perhaps more worryingly, these fraudulent activities in the crypto sector are not limited to a single type of crime. Diverse and distinct yet with one common thread, these crimes involve real money and crypto investors are the victims. Many people have placed their life savings into crypto and, on a larger scale, private equities, pension schemes and even nation-states are principal investors and losers. There are con artists who will try and entice their targets to invest in a get-rich scheme that turns out to be a …

As the youngest PM to take office in the U.K. in more than 200 years, Sunak has something else in common with his millennial peers: He is a crypto enthusiast. In fact, as a recent Bank of America survey found, “Younger investors are choosing to allocate significantly more of their portfolios to crypto” than their older counterparts. Additionally, those in the 21–42 age bracket are “more likely to believe crypto offers the greatest opportunities for growth” and allocate an average of 15% of their portfolios to crypto investments, compared with the 2% invested by the over-42s. The difference is, of …

In 2018, the United Kingdom’s Financial Conduct Authority (FCA) wrote to the heads of the country’s biggest high street banks to emphasize the importance of due diligence when dealing with crypto businesses. That seems to have led to widespread high-risk ratings and bans on crypto-related banking, impacting both crypto businesses hoping to operate in the U.K. and investors alike. Banks are, understandably and responsibly, concerned with scams, but the current situation creates uncertainty. Crypto investors need to be able to move their money around as they like, and crypto businesses need access to payment rails for a variety of other …

The Law Commission of England and Wales hopes to establish the United Kingdom as a leading jurisdiction to grapple with legal disputes involving emerging technologies like cryptocurrencies, digital assets and electronic documentation. The project, dubbed "Digital Assets: Which Law, Which Court?" was announced on Oct. 18 with the aim of reviewing international legal challenges involving cryptocurrencies and providing recommendations for legal reform in the United Kingdom. Cointelegraph reached out to Professor Sarah Green, law commissioner for commercial and common law, to unpack the driving force behind the authority's latest law reform project. The U.K.’s legal review body has previously conducted …

This week the $20,000 resistance is proving to be stronger than expected and even after Bitcoin price rejected at this level on Sept. 27, BTC bulls still have reasons to not give up. According to the 4-month-long descending triangle, as long as the $18,500 support holds, Bitcoin price has until late October to determine whether the downtrend will continue. Bitcoin bulls might have been disappointed by the lackluster price performance as BTC has failed multiple times to break above $20,000, but macroeconomic events might trigger a rally sooner than expected. Some analysts point to the United Kingdom's unexpected intervention in …

An average crypto asset holder in Great Britain would be young, male and a hodler. And they would consider crypto to be a "fun investment." Such are the findings from the fresh research conducted by Her Majesty Revenue and Customs (HMRC) with the help of research agency Kantar UK and published on Tuesday. Taking a quantitative approach, the research sought to establish the prevalence of owning crypto assets, the types and amounts held, and the platforms individuals use to buy crypto assets. It consisted of a survey with a representative sample of 5,916 United Kingdom adults, including 713 crypto asset …

The Bank of England’s regulatory arm has raised its budget by $31.6 million, or 24.3 million Great British pounds, for the coming financial year. It said that costs have increased due to its growing responsibilities and preparations for “emerging risks in the financial system.” According to the latest business plan released on Wednesday by the Prudential Regulation Authority (PRA), its budget for the 2022/23 financial year is $418 million, or 320.9 million pounds, an 8.2% increase from last year. The PRA chief executive Sam Woods outlined its plan for the year ahead saying it was: “Committed to keeping pace with …

Her Majesty’s Revenue and Customs (HMRC), the U.K.’s tax agency, on Wednesday, has released a controversial set of guidance that could affect innovation in Decentralized Finance (DeFi). The updated regulation focuses on the treatment of digital assets specifically for DeFi lending and staking in the UK, and whether returns or rewards from these services are deemed as capital or revenue for taxation purposes. Owing to the cutting edge nature of DeFi these services had fallen into a grey area with tax professionals unsure of how the existing rules apply. “The lending/staking of tokens through decentralized finance (DeFi) is a constantly …

The former Secretary of State for Health and Social Care and current U.K. Member of Parliament (MP) Matt Hancock urged the House of Commons to make England the “home” of crypto. Hancock has served as an MP for West Suffolk since 2010 but stood down from his role as the Health Secretary in mid-2021 following controversy surrounding COVID breaches tied to an alleged extramarital affair. Which is to say his endorsement, while welcomed by the industry, may not hold as much cachet as it once did. Following up from his speech at the House of Commons on Jan. 27, Hancock …

Her Majesty’s Treasury and the Bank of England have begun preliminary central bank digital currency studies that could result in the creation of a national digital currency. In a document published by HM Treasury, the exchequer announced the creation of a CBDC task force in collaboration with the United Kingdom’s central bank. Sir Jon Cunliffe, deputy governor of the Bank of England, and Katharine Braddick, director general of financial services at HM Treasury, will co-chair the task force. According to the terms of reference document, the task force will synergize the efforts of all relevant statutory bodies in the U.K. …

A financial think tank has suggested that Britain should adopt a digital pound in an effort to strengthen London’s status as a global trade center in the wake of Brexit. Previously the gravitational center-point of Europe’s financial sector, London saw much of its influence lost at the end of 2020 when Britain’s exit from the European Union was finalized. The United Kingdom’s Finance Ministry will now take proposals on how to make the City of London more attractive to global traders and pull activity back from Amsterdam, which emerged as the new EU trading hub post-Brexit. Euro-skeptic politicians and London …