Bitcoin (BTC) starts a new week staring down a wild macro environment after sealing its lowest weekly close in nearly two years. As risk assets across the global economy take a hammering and the U.S. dollar surges, the largest cryptocurrency is on a limp footing. September, having started out on bulls’ side, is now living up to its informal crypto market nickname — “Septembear” — and BTC/USD is currently down 6.2% since the start of the month. The bad news keeps coming for hodlers, who are clinging to dormant coins in increasing numbers as the dollar runs rampant and mainstream …

The government of the United Kingdom has introduced a bill aimed at cracking down on money laundering and fraud, specifically expanding authorities’ ability to target cryptocurrencies used for illicit purposes. In a Thursday announcement, the U.K. government said lawmakers had introduced the Economic Crime and Corporate Transparency Bill in Parliament as part of efforts to drive “dirty money” out of the country. The bill contained provisions cutting down on the “red tape around confidentiality liability” and granting law enforcement the authority “to compel businesses to hand over information which could be related to money laundering or terrorist financing,” including crypto. …

Cointelegraph took a trip to Satoshi’s Place on Friday, a Bitcoin (BTC) hub in Greater Manchester. Named after the anonymous creator of the world’s largest and most widely accepted cryptocurrency, the bar and workspace offers workshops, coworking spaces for local businesses and Bitcoin-inspired cocktails. Adam, the founder (who chose not to share his surname), first heard about Bitcoin in 2012 and has spent the past 10 years experimenting with ways to onboard and educate people about magic internet money. He told Cointelegraph over a beer–paid for by Bitcoin over the Lightning Network–that it’s the first of many forays into Bitcoin …

The Financial Conduct Authority (FCA), the chief financial regulator in the United Kingdom, issued a warning to Bahama-based crypto exchange FTX, claiming it operates without authorization. The company joined a growing list of unregistered cryptocurrency-related businesses that continue to outweigh those signed up with the FCA. A warning note, dated Sept. 16, claims that the firm “may be providing financial services or products in the UK without authorization.” Addressing the potential customers, the FCA notes that they won’t be able to get their money back or seek the protection of the Financial Services Compensation Scheme “if things go wrong.” By …

While last week brought no troubles from the market side of the crypto industry — no operations frozen, no bankruptcies filed — the United States regulators made some explicitly negative statements. Recently appointed U.S. Federal Reserve Board vice chair for supervision Michael Barr pledged to “ensure that crypto activity inside banks is well regulated, based on the principle of the same risk, same activity, same regulation, regardless of the technology used for the activity.” In Barr’s opinion, people “may come to believe that they understand new products only to learn that they don’t.” Michael Hsu, an acting Comptroller of the …

The United Kingdom’s independent advertising regulator has upheld a complaint involving former reality show Love Island contestants Eve and Jessica Gale for “triviali[zing] investment in cryptocurrency.” In a Wednesday notice, the U.K. Advertising Standards Authority, or ASA, said the reality stars promoted crypto in an Instagram story in June at the request of an influencer named Elizabeth O'Donell, upholding claims the ad was “misleading” and “irresponsible.” According to the regulator, O'Donell was not just providing trading advice for crypto as the Gales’ stories claimed, but promoting investing in cryptocurrencies without illustrating possible risks. “We therefore considered the ads were addressed …

Recently elected Conservative Party leader and prime minister of the United Kingdom Liz Truss has appointed Kwasi Kwarteng as the country’s newest chancellor of the exchequer, or chief financial minister. In a Tuesday announcement, Truss’ office named Kwarteng as the next U.K. finance minister, replacing Nadhim Zahawi, who served as chancellor of the exchequer for three months following Rishi Sunak’s resignation in July. Kwarteng was most recently the U.K. government’s secretary of state for business, energy and industrial strategy in addition to being a Member of Parliament since 2010. The Rt Hon Kwasi Kwarteng MP @KwasiKwarteng has been appointed Chancellor …

The United Kingdom’s Financial Reporting Council has reportedly found flaws in the audit of cryptocurrency-friendly payments app Revolut which included an “unacceptably high” risk of “material misstatement.” According to a Monday report from the Financial Times, the U.K. Financial Reporting Council criticized the results of a Revolut audit released July by accountancy and business advisory firm BDO, claiming the company had an “inadequate” approach to revenue recognition and “the risk of an undetected material misstatement was unacceptably high.” The financial regulator reportedly said BDO had tested Revolut’s payment processes inadequately. Revolut was valued as a $33-billion fintech firm in July …

After a race to be the next leader of the Conservative Party, Secretary of State for foreign, commonwealth and development affairs Liz Truss has defeated f ormer chancellor of the exchequer Rishi Sunak to become the next prime minister of the United Kingdom. Boris Johnson, who served as the U.K. prime minister since 2019, will be on his way out of office and leaving Truss as the party leader, after she won the election with 57.4% of the vote from members compared to Sunak’s 42.6%. Truss has been the Secretary of State for Foreign, Commonwealth and Development Affairs in the …

Christopher Hamilton, a British national allegedly connected to ‘Cryptoqueen’ Ruja Ignatova’s cryptocurrency scheme OneCoin, reportedly faces extradition to the United States on charges related to a scam going back to 2014. According to a Tuesday report from legal news outlet Law360, a judge in the United Kingdom will allow the process to move forward for Hamilton to be extradited to the U.S. on charges of wire fraud and money laundering. Hamilton was allegedly involved in laundering $105 million through the crypto Ponzi scheme OneCoin, which defrauded more than 3 million investors of more than $4 billion through the sale of …

The number of unregistered cryptocurrency-related businesses continues to outweigh those signed up with the United Kingdom’s Financial Conduct Authority. Crypto.com became the latest business from the cryptocurrency ecosystem to register with the FCA, joining a list of a confirmed 37 companies with the green light to offer services in the country. Just seven businesses have gone through the registration process in 2022 to achieve Money Laundering Regulations approval, which includes eToro UK, DRW Global Markets LTD, Zodia Markets (UK) Limited, Uphold Europe Limited, Rubicon Digital UK Limited and Wintermute Trading LTD. Crypto.com is the seventh, registered under FORIS DAX UK …

The Bitcoin Standard has many formations. For some, selling all possessions and living off magic internet money is key; for others, it’s about sweeping every spare penny into Satoshis. For popular podcaster Peter McCormack–an avid football fan–it meant buying his local club and signing Bitcoin (BTC) onto the team sheet. Bitcoin advocate McCormack acquired his hometown football club in December 2021. He renamed and rebranded the club to Real Bedford, and at the ground, Bitcoin qualifies as payment for shirts, drinks and tickets. But with the price of Bitcoin wallowing in the $20,000s, can the ethos behind a falling currency …