The United Kingdom’s central bank is ramping up its research into a central bank digital currency (CBDC) with the selection of a long list of banking and fintech experts to assist it. On Thursday, the Bank of England announced the membership of its CBDC Engagement and Technology Forums and they include some big names in technology and finance including Google, Mastercard, Consensys — and even Spotify. This week’s announcement is a signal that the central bank is taking its CBDC plans seriously. It stated that the Technology Forum draws resources from leading experts in the field of digital payments and …

PayPal officially announced on Friday that all eligible customers in the United Kingdom can now buy, hold and sell cryptocurrencies using their PayPal accounts. Customers can trade four major cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). As announced previously, crypto trading will only be available to PayPal customers with verified identities. PayPal announced plans to move into the British cryptocurrency market in late August, immediately proceeding with a partial rollout of crypto trading services. The move marks the first expansion of PayPal’s cryptocurrency services beyond the United States. Speaking to Cointelegraph, a PayPal spokesperson said, “PayPal …

Brevan Howard, a United Kingdom-based hedge fund, plans to "significantly expand" its cryptocurrency and digital assets, according to a new report from Reuters. Chief Executive Aron Landy, who has been at Brevan's helm since its co-founder and long-time crypto backer Alan Howard stepped down in 2019, has stated that the firm has a "commitment to rapidly expanding its platform and offerings in cryptocurrencies and digital assets." Brevan's strategy going forward with crypto is two-pronged. The firm is launching a new business division, "BH Digital," to manage its crypto and digital assets, and has also hired CMT Digital Chief Executive Colleen …

Regulators must step up protections for consumers who invest in crypto tokens but also keep in mind that overreach could backfire, the chair of the United Kingdom’s Financial Conduct Authority (FCA) has cautioned. In a new speech written for the Cambridge International Symposium on Economic Crime, Charles Randell, chair of the FCA and Payments Systems Regulator, said that there is currently a real problem with consumers who delve into the crypto sphere without due awareness of the risks. He singled out the role of influencers and paid-for advertising, in particular, noting that Kim Kardashian’s recent Instagram promotion of EthereumMax (EMAX), …

Standard Chartered, a United Kingdom-based multinational banking firm, has joined an alliance of fintech companies and banks aimed at accelerating the adoption of cryptocurrency best practices. In a Wednesday announcement, Standard Chartered said it would be joining crypto and digital finance industry membership body Global Digital Finance (GDF) Patron Board. As a member, the bank will help engage with international regulators and lawmakers as well as others in the industry to advocate for digital assets. According to the GDF, Standard Chartered is the first bank to join the group’s patron board, consisting of ten other members, including crypto exchanges Coinbase, …

United Kingdom-based multinational banking firm Standard Chartered has launched a blockchain-powered trade finance platform through a joint venture with Chinese supply chain finance technology provider Linklogis. Dubbed Olea, the platform will aim to meet the needs of institutional investors that are “seeking opportunities in an alternative asset class with businesses requiring supply chain financing,” according to a report from The Korea Herald published on Monday. The joint venture operating the platform will be headquartered in Singapore, where Ng from Standard Chartered’s SC Ventures will lead as its CEO. Letitia Chau, vice chairman and chief risk officer of Linklogis, will serve …

Beginning this week, residents of the United Kingdom will be able to buy, hold and sell cryptocurrencies through PayPal for the first time — marking a significant milestone for a company that began offering digital asset services less than a year ago. The global payments provider announced Sunday that U.K. customers will soon have access to Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) through PayPal’s website and mobile app. The announcement marks the first expansion of PayPal’s cryptocurrency services beyond the United States — a service that first launched in November of last year. Jose Fernandez da …

The London School of Economics and Political Science (LSE) has officially joined Hedera Hashgraph’s panoply of 39 global governing council members, confirming its place as the second academic institution to support the blockchain platform following University College London’s admission last year. Hedera Hashgraph is an enterprise-grade distributed ledger technology designed to support the creation of new and existing web applications in the decentralized economy. Members of its governing consortium, which comprises established industry leaders such as Google, IBM, Boeing and Chainlink Labs, among others, pledge to support Hedera’s ambitions in growing its decentralized open-source ledger network. The members fulfill this …

Artificial intelligence research lab Fetch.ai has been granted a request to have major cryptocurrency exchange Binance identify individuals behind a $2.6 million hack. According to a Friday Reuters report, the Royal Courts of Justice in London has ordered Binance to identify the hackers and seize the stolen assets. Fetch.ai reportedly claimed that hackers stole $2.6 million worth of cryptocurrency from its Binance account on June 6 and resold the tokens for a significantly reduced price. "We need to dispel the myth that crypto assets are anonymous," said Syedur Rahman, a partner from Fetch.ai's legal team at Rahman Ravelli. "The reality …

Crypto experts across the United Kingdom’s legal industry have announced the launch of the Crypto Fraud and Asset Recovery (CFAAR), a network aimed at providing redressal against crypto-related fraudulent activities. The group includes a diverse range of professionals, such as “lawyers, barristers, forensic accountants, corporate intelligence and asset recovery experts.” The launch of the CFAAR network is attributed to the rise in fraudulent activities involving theft, initial coin offerings and ransomware attacks. Through a united approach from legal experts, CFAAR’s team intends to “respond robustly and effectively” to crypto crimes and fraud by providing “the best possible means of redress.” …

United Kingdom-based digital asset and trading platform provider Copper.co is stepping into the United States market after appointing Glenn Barber as head of sales and development. Barber’s appointment to lead the new U.S. office comes as “the next step in the company’s expansion” strategy. Headquartered in London, Copper.co has managed to raise $84.3 million through funding rounds, with the latest being a Series B investment that helped the company raise $50 million. As reported recently by Cointelegraph, the previous funding also saw the involvement of Alan Howard, a billionaire hedge fund manager who led a $25-million extension in the mix, …

Banks in the United Kingdom continue to crack down on Binance cryptocurrency exchange, with banking giant HSBC becoming the latest bank to cut payment channels to the platform. A series of HSBC clients reported on Twitter this Monday that HSBC UK had suspended credit card payments to Binance. According to an announcement on the service suspension, HSBC UK made the decision “due to concerns about possible risks” to its customers. “We take our duty as a responsible lender seriously and want to do everything we can to protect you. We’ll continue to monitor the situation and let you know if …