Crypto investment is ‘like gambling’
Retail investment in crypto currencies should be treated like gambling, UK MPs have urged the government. The Treasury Select Committee reported customers risked losing all their money on the currency which can perform well or very badly Those characteristics resemble gambling, the committee said. But it is unlikely to support the use of gambling legislation […]
Banking giant imposes limits on crypto transfers
Banking giant NatWest has imposed stricter rules on cryptocurrency transfers to protect customers after £329m was lost by UK consumers last year. The bank is imposing a daily limit of £1,000 and a 30-day payment restriction of £5,000 on exchanges. It comes in the wake of the collapse of the crypto exchange FTX, which was […]
Crypto lender Genesis files for ‘bankruptcy’
Cryptocurrency lender Genesis has filed for bankruptcy after being charged by US regulators Securities and Exchange Commission (SEC) with illegally selling crypto. It is not known how many UK or European customers Genesis has but the collapsed FTX exchange was is said to have 80,000 British investors. Genesis is part of the the Digital Currency […]
Government details UK crypto pound sterling
A ‘crypto’ pound sterling is under consideration by the Government, the Economic Secretary to the Treasury has told MPs. Andrew Griffith claims the UK is committed to becoming a world digital currency hub. He said Britain is a “long way down the road… to establish a regime for the wholesale use, for payment purposes, of […]