More than half of all exchanges worldwide have weak KYC identification protocols — with exchanges in Europe, the U.S. and U.K. among the worst offenders, according to a new study by blockchain analysis firm CipherTrace CipherTrace analyzed more than 800 decentralized, centralized, and automated market maker exchanges and found 56% of them did not follow KYC guidelines at all despite anti-money laundering (AML) regulations. The highest number of such exchanges are in Europe — a region renowned for stricter regulations. However, 60% of European Virtual Asset Service Providers have deficient KYC practices. The U.S. U.K and Russia are the three …

Policymaking in the United Kingdom is typically reactionary, and this is no less true in the context of the crypto-asset industry. Reactionary policymaking means that the U.K.’s crypto regime is occasionally behind those of its competitors, which could ultimately cause the U.K. to become a less attractive place to conduct crypto-related business. The former Chair of CryptoUK, Iqbal Gandham, pointed out in an April 2018 letter to the U.K. Parliament’s Treasury Committee that despite the fact that “the UK holds great potential to become a global leader in cryptocurrencies,” the “absence of regulatory direction” has stifled innovation in the industry. …

Bitcoin (BTC) is getting its best “advertisement” once more as another major central bank floats the idea of charging people to save their money. As Bloomberg reported quoting minutes of a meeting held Thursday, the Bank of England (BoE) has become the latest central bank to discuss negative interest rates. Negative rates “would drive BTC adoption” According to the results of the meeting, the BoE will enter discussions with banking regulators over negative rates, which effectively mean lending institutions, and, hence, savers must pay to store cash. The reason is the impact of the coronavirus lockdown on the economy, along …

Wirex — the first cryptocurrency platform to be granted a Mastercard principal membership — will release a new multi-currency card on the heels of the membership. Wirex is a London-based crypto payment processor and is regulated by the U.K.’s Financial Conduct Authority, with a license to issue crypto cards in Europe. The multi-currency Wirex Card will be supported by Mastercard and linked to 19 crypto and fiat currency accounts in the Wirex app. An official release date has not yet been announced. In a bid to encourage the use of cryptocurrency for everyday payments, the company is also upgrading its …

Revolut, a major European cryptocurrency-friendly trading application is expanding to another major market. The London-based firm has launched its digital banking app in Japan, as Revolut announced in a Sept. 8 tweet. According to a report by The Nikkei, Japan is the first non-English speaking market for Revolut. Headquartered in London, the company reportedly has 13 million users worldwide, operating in European countries, the United States, Australia and Singapore. As reported, Revolut’s initial rollout in Japan will be limited to “international transfers” and “managing money in 23 currencies.” Registered users will also reportedly receive a Revolut-branded Visa debit card. Cointelegraph …

Publicly-listed mining firm Argo Blockchain has published bullish interim half year results for 2020, despite the recent Bitcoin (BTC) halving and a host of “challenging conditions.” Argo Blockchain PLC is headquartered in London, with its shares listed on the main market of the London Stock Exchange. For the six months through to June 30, the company’s revenues hit £11.2 million ($14.48 million) — a 280% increase from H1 2019 (£2.93 million, or $3.79 million). According to the company, the surge in revenue reflects a “major ramp-up in production.” The total number of Bitcoin mined during the first six months of …

European experts in cryptocurrency tax reporting are joining forces to enter markets in the United States and Canada. Blockpit, an Austria-based crypto compliance expert, has completed a merger with its German competitor CryptoTax, the firm announced on Sept. 8. Both focused on providing crypto tax reporting tools, Blockpit and CryptoTax will now be working together to expand to global jurisdictions like the U.S., Canada, Australia and the United Kingdom in 2021. Currently operating in Germany, Austria and Switzerland, Blockpit and CryptoTax are also planning to extend their European presence with the merger, Blockpit’s representatives said. Klaus Himmer, co-founder and managing …

United Kingdom fintech Ziglu announced the launch of its peer-to-peer (P2P) payments service for both fiat and cryptocurrency on Sept. 7. This follows hot on the heels of receiving both the U.K. Financial Conduct Authority’s (FCA) Electronic Money Institution licence, and the Fifth Money Laundering Directive (5MLD) licence last week. Ziglu launched in June, with a vision to offer simple and secure access to any currency. The platform is undergoing continuous development and many more features are scheduled for the future. Cointelegraph spoke to Ziglu founder and CEO Mark Hipperson about becoming fully licenced, P2P payments and future plans. He …

Not unlike many other jurisdictions around the world, Russia has come to recognize the potential benefits and risks flowing from cryptocurrencies by taking its first step to define and codify digital assets. The new Russian legislation dubbed “On Digital Financial Assets” sets a clear direction for the treatment of cryptocurrencies by authorities and how both individuals and businesses can handle them in everyday practice. Nevertheless, the new legislation may give pause to payments companies and fintech companies keen on expanding into the Russian market. While the approach of the Russian legislature toward cryptocurrencies — or digital assets, as they are …

The famous English rock band Muse is teaming up with Dapper Labs, the company behind the viral blockchain game CryptoKitties. The collaboration, which follows Dapper Labs’ partnership with Warner Music Group, will center on the creation of two blockchain-secured crypto-collectibles, including a limited edition Kitty “signed” by the band. Projects such as CryptoKitties involve unique but tradeable blockchain assets — known as non-fungible tokens — that can be used to represent all manner of virtual and equally, real-world goods. Video games, digital art and even memes can be tokenized and monetized, circulating on the blockchain in a peer-to-peer community of …

The world’s largest cryptocurrency exchange, Binance, has targeted London commuters with new ads featuring Bitcoin. According to an Aug. 28 tweet from Binance.UK, the crypto exchange has placed new ads at 17 bus stops in London. The image shows two older generations of coins as well as a current two-pound coin used in the U.K, followed by the largest, Bitcoin. “Money is evolving,” the ad states. “It’s time to adapt.” #Bitcoin is taking over London! 🇬🇧 pic.twitter.com/FBGeEe3pgV — Binance (@binance) August 30, 2020 Binance announced its expansion into the U.K. market in June, with an exchange platform scheduled to launch …

The price of Bitcoin (BTC) has recently shot up after months of stability. In April and May, trading prices came in between the narrow range of $9,000 and $10,000, with realized volatility falling to its lowest in three years by mid-July. The speculation behind the price move has come amid economic uncertainty brought about by the COVID-19 outbreak, coinciding with record low-interest rates and an increasingly volatile stock market. The question is: Will the recent rebound in the cryptocurrency reflect the start of a price spike, which was last seen in 2017? The recent Bitcoin surge has actually coincided with …