Financial regulators in the U.K. have approved Digivault, the security token custody arm of digital assets group Diginex, to register as a custodian wallet provider. In an announcement from Diginex today, the firm said the Financial Conduct Authority, or FCA, had given the green light to Digivault to register as a stand-alone digital asset custodian in the United Kingdom. The move implies Digivault i in compliance with the financial watchdog’s rules on Anti-Money Laundering and Combating the Financing of Terrorism. According to the custodian, Digivault aims to “provide compliant and secure custody services to corporate and institutional investors in crypto …

Famous pizza chain Papa John’s has begun giving away cryptocurrency rewards for customers in the United Kingdom. According to the online offers of Papa John’s in theU.K., pizza lovers can receive 10 euro ($12) worth of Bitcoin (BTC) by spending 30 euro ($36) or more at select locations in the U.K. and Ireland. Users can claim the coins through cryptocurrency exchange Luno before Sunday. Though it was not specified why the BTC offer is available now, the franchise has a notable history with cryptocurrency. On May 22, 2010 — known as Bitcoin Pizza Day — Laszlo Hanyecz became the first …

How can this CBDC design trilemma be overcome? An identity-based, meta-blockchain can achieve all three design goals of identity, privacy and programmability. While blockchain systems can be structurally decentralized, the operation itself can be very much centralized and sequential. The problem lies in how transactions cannot be processed in parallel — and multiple smart contracts cannot be operated simultaneously. A meta-blockchain that can operate smart contracts in parallel could be the answer here, as it can ensure that a user’s information is kept secret at all times. SovereignWallet Network (SWN) Global believes it has found the solution for tackling the …

Andrew Bailey, governor of the Bank of England, has warned crypto investors of the dangers of participating in the market. Speaking during a conference on Thursday, Bailey balked at the notion of “cryptocurrencies,” stating that “crypto assets” was a more suitable nomenclature for describing digital currencies. The BoE governor espoused well-worn anti-crypto rhetoric, specifically the argument that cryptocurrencies lacked intrinsic value. “I would only emphasize what I’ve said quite a few times in recent years, [and] I’m afraid they have no intrinsic value,” Bailey added. Delivering his stark warning to crypto investors, Bailey said: “I’m sorry, I’m going to say …

One crypto user is seemingly taking exception to current monetary policy from the Bank of England and expressing their frustration with a laser projector. Reported by Twitter user Dominic Frisby, an unknown person projected “Bitcoin fixes this” and other messages on the exterior walls of both the BoE and the Parliament of the United Kingdom on Saturday. The message appeared underneath Big Ben as well as the front of the central bank surrounded by a red box with the artist’s hallmark, and the photo has already been turned into a nonfungible token. OMG they did it on Parliament too pic.twitter.com/jijp6RutXj …

The United Kingdom’s central bank, the Bank of England, or BoE, still maintains that it is unsure on a path forward regarding a central bank digital currency, although the entity is looking to hire at least seven CBDC-related job positions. The job listings recently surfaced on the BoE’s job posting website. One such position searches for a “Stakeholder Analyst - Central Bank Digital Currency (CBDC).” As per the site, the bank is also searching for a project analyst, a solution architect, a technology analyst, a senior manager, and a senior enterprise architect — all CBDC-related, as well as a senior …

Her Majesty’s Revenue and Customs, the tax authority of the United Kingdom, will ramp up its efforts to snare cryptocurrency tax evaders in an attempt to uncover what it regards as hidden wealth, says U.K. accountancy group UHY Hacker Young. According to the group, the “statement of assets” form that is used in tax evasion investigations will now include a section focused specifically on cryptocurrencies, such as Bitcoin (BTC), Ether (ETH) and others. Along with explicit demands for information on crypto holdings, the form will also reportedly include sections dedicated to other systems of exchange, including the black market peso …

It has been four months since the Brexit trade deal came into effect between the United Kingdom and the European Union. The deal, in common with other free trade agreements, does very little to support the export of financial services from the U.K. into the single market. As a result, spring has seen financial services firms, including those in financial technology adjusting to different trading relations with the EU, while also managing the ongoing COVID-19 restrictions. Most notably, U.K. financial services have lost their automatic rights to service EU clients from their U.K. base, using the so-called passporting rights that …

Legislators in the United Kingdom have asked for greater regulatory powers to combat the rise of financial “greenwashing” — a deceptive practice where a company overstates or fabricates the extent of its green energy usage. A report by the House of Commons cross-party Treasury Committee urges the U.K. government to sharpen its definition of environmentally conscious investments and to consult on the prospect of attaching “green labels” to financial products. The report notes that “green” claims attached to financial investments are often exaggerated, and can fail to align with customer expectations: “It is clear that in some cases the labels …

A British government-sanctioned task force has proposed a dispute resolution framework that would keep cryptocurrency and smart contract disagreements out of the courts. A 14-page report published by LawTechUK’s UK Jurisdiction Taskforce puts forward new “Digital Dispute Resolution Rules” that aim to provide a standardized means of dealing with smart contract disputes. Under the remit of the new rules, crypto-based disputes could be resolved without any major intervention by the courts. The laws would allow for the appointment of an independent tribunal to adjudicate on matters of dispute, and any decision reached by the tribunal would be legally binding. The …

Corporate clients of NatWest may soon lose their banking relationship with the United Kingdom-based lender amid recent negative cryptocurrency-related policy statements. According to a report by The Guardian, Morten Friis, the head of the bank’s risk committee, has revealed that NatWest will refuse service to business customers that accept cryptocurrency payments. Friis made the bank’s position known during Wednesday’s shareholder event, stating: “We have no appetite for dealing with customers, whether taking them on as new clients or having an ongoing relationship with people, whose main business is backed by an exchange for cryptocurrencies, or otherwise transacting in cryptocurrencies as …

Cryptocurrency exchange Binance’s latest product — digital stock tokens representing fractions of equity shares like Tesla and Coinbase — is reportedly being studied by European and British regulators over its possible non-compliance with securities laws. A new report from the Financial Times claims that regulators are concerned the tokens may not provide sufficiently transparent corporate disclosures, specifically an investment prospectus, that would be required if the tokens were judged to be securities. Germany’s Federal Financial Supervisory Authority, or BaFin, told FT reporters that while it could not comment on the case specifically: “Fundamentally [...] the following applies: if tokens are …