Major global interdealer broker TP ICAP is launching a cryptocurrency trading platform with Fidelity Investments and British banking giant Standard Chartered. TP ICAP’s upcoming crypto exchange is scheduled for launch in the second half of 2021 and will initially offer trading exclusively for Bitcoin (BTC), the world’s largest cryptocurrency, Reuters reported Tuesday. Other digital assets like Ether (ETH) will be added at a later stage. Unlike the majority of typical crypto exchanges, TP ICAP’s crypto trading platform will offer post-trade infrastructure with a network of digital asset custodians as well as separate execution and settlement, intending to cut credit risks. …

Binance’s U.K. customers are currently unable t use the popular local payments provider, Faster Payments, to withdraw British pounds (GBP) from the exchange. On Monday, June 28, a notice on the Binance website declared that GBP withdrawals via Faster Payments had been “suspended for maintenance,” according to the Financial Times. Faster Payments is a payment provider used by major banks to process near-instant payments. It has become one of the preferred channels for moving fiat currencies to and from the Binance exchange. According to the report, U.K. users can still use traditional methods such as bank cards to move money …

Binance, one of the world’s largest cryptocurrency exchanges, has been ordered to cease all regulated activities in the United Kingdom following a review of its operations by the nation’s Financial Conduct Authority, or FCA. “Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said in an announcement, adding that no other entity in the Binance Group holds any of the necessary permits to operate in the country. In delivering the rebuke, the FCA also issued a stern warning about investing with unauthorized exchanges: “Most firms advertising and selling investments in cryptoassets are not …

Although the price of Bitcoin (BTC) continues to hover around $30,000, industry experts are noting that there is a bullish long-term view. To put this into perspective, Alex Mashinsky, chief executive officer and co-founder of Celsius – the centralized cryptocurrency lending platform – told Cointelegraph at Bitcoin 2021 in Miami that he sees Bitcoin reaching $160,000 this year, or possibly a bit lower. “We haven’t seen the highs yet for 2021,” Mashinsky said. Mashinsky further remarked that the crypto market was bound for a correction, following Bitcoin’s recent all-time high of over $63,000: “When you go too high, too fast, …

Mode Global Holdings, a London Stock Exchange-listed fintech group, has secured major regulatory approvals for cryptocurrency and fintech operations in the United Kingdom. The company announced Thursday that Mode has secured its Electronic Money Institution license and AMLD5 registration from the U.K. Financial Conduct Authority. The AMLD5 registration has been granted to Mode’s crypto arm Fibermode Limited, establishing it as an official crypto asset firm in the United Kingdom, pursuant to the amended regulations on money laundering, terrorist financing and transfer of funds. The AMLD5 registration is a requirement for crypto-related businesses in the country that fall within the scope …

The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA) has warned consumers against 111 crypto companies that are yet to register with the FCA. Since Jan. 10, all U.K.-based crypto firms have had to comply with Anti-Money Laundering and Counter-Terrorist Financing laws, as well as to register with the FCA in order to operate legally. Many are yet to do so. Mark Steward, FCA’s head of enforcement asserted at the “City & Financial’s City Week” event on June 22, that the unregulated crypto entities pose a threat to consumers, banks, and payments firms who do business with them, noting …

United Kingdom-based financial institution TSB Banking Group Plc. will soon ban its over 5.4 million customers from buying Bitcoin (BTC) and other cryptocurrencies. According to a report by The Telegraph on Saturday, the bank’s imminent crypto ban is due to alleged cases of fraud associated with cryptocurrency transactions. Bank TSB has reportedly received a plethora of complaints from customers about crypto-related fraud cases. Indeed, the U.K. bank says about 12.5% of payments to crypto exchange platforms involve transactions as against one in 5,500 for non-virtual currency-related transfers. Crypto exchange giant Binance has reportedly been linked to the rising number of …

A new study by the United Kingdom’s Financial Conduct Authority has indicated a significant increase in cryptocurrency ownership in the country. On Thursday, the FCA published the results of a consumer survey which found that 2.3 million adults in the U.K. now hold crypto assets, up from 1.9 million last year. Alongside the increasing number of crypto investors, the study also identified a surge in ownership volumes, with median holdings rising to 300 British pounds ($420) from 260 pounds ($370) in 2020. The rising popularity of holding cryptocurrency comes in line with an uptick in the awareness level as 78% …

More than 90% of 200 independent financial advisers (IFA) in the United Kingdom who participated in a recent poll by research agency Opinium indicated negative cryptocurrency sentiments, with over one-third reporting an increase in cryptocurrency-related inquires from clients since the start of the year. Quoting figures from the poll, Reuters reported on Wednesday that 93% of surveyed IFAs would not recommend crypto investment vehicles to their clients. A similar negative sentiment also showed for meme stocks — a term used to describe shares of companies whose values are often driven by retail trading mania. As part of the figures, 95% …

The United Kingdom arm of pilsner beer brand Stella Artois is partnering with a digital horse racing game to release a series of nonfungible tokens (NFTs). In a Tuesday announcement from Stella Artois’ U.K. brewery, the beer brand said users of the digital racing game Zed Run would now be able to bid on Stella Artois-themed skins for their favorite horses. Beginning Tuesday and running until Saturday, crypto users can bid on 50 digital packages featuring nonfungible tokens of the racehorses and original Stella art, as well as the branded skins. The auctions for the skins, horses, and beer artwork …

A new survey of 100 chief financial officers at hedge funds worldwide has indicated that the sector is planning a significant increase in its exposure to crypto assets in the near term. The survey, conducted by Intertrust, suggests that if the respondents’ forecasts were broadly mirrored across the sector, assets in crypto held by global hedge funds could hit $312 billion. United States-based funds were most bullish about the new asset class, expecting to raise their portfolio exposure to crypto to 10.6% on average within five years. Their European Union- and United Kingdom-based counterparts gave a slightly more modest figure, …

Billionaire hedge fund manager Alan Howard continues backing the cryptocurrency industry with fresh investment in two digital asset startups. The co-founder of major asset manager Brevan Howard led a $25-million extension raise for London-based crypto services firm Copper.co. The company announced Friday that the new investment follows a $50-million Series B funding round led by companies such as Dawn Capital and Target Global. The additional funding will be directed to further strengthen Copper’s expertise in enabling traditional financial firms to benefit from blockchain technology and cryptocurrencies. The firm stressed that the additional funding shows the growing interest in crypto from …