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UK miner Argo reports 280% increase in revenue despite May’s Bitcoin halving

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...

Could Russia lead Eastern Europe’s crypto boom?

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...

AMFEIX Investors Raise Concerns About Massive Pending Withdrawal Requests

A number of people who invested in a cryptocurrency company are claiming that the company is scamming its users.The fund in question is called AMFEIX, which promised high-yield monthly returns to its users and supposedly raised more than $60 million in Bitcoin (BTC). At the end of June, Cointelegraph began receiving emails from AMFEIX users who had invested their funds into the project.These users claimed that there have been lots of pending withdrawal...

UK FCA’s Stance on Crypto Seen as Harsh but Fair

Recently, the United Kingdom’s Financial Conduct Authority released a detailed statement urging all local crypto business operators to register with the government watchdog by June 30. As part of the document, the regulator has made it absolutely clear that applications will need to have been processed, at the latest, by the end of the official grace period, which ends on Jan. 10, 2021, and failing to meet the requirement will result in a...

UK University Develops Blockchain Certificate to Protect Consumers from COVID-19 Risks

British researchers are trialing a new blockchain-based certificate designed to manage COVID-19 risks across supply chains.In a statement on April 21, Professor Nassim Belbaly, director of Birmingham City Business School, noted that “coronavirus represents a crisis of trust because we cannot any longer automatically trust goods or suppliers.” New, secure and automated solutions are therefore being sought to help reassure consumers and suppliers that goods across the value chain do not pose health risks...

Bitcoin Scams Continue to Exploit Covid-19 Chaos in UK

Following a warning from the national watchdog earlier this month, regional authorities across the United Kingdom say Bitcoin scammers are using the coronavirus crisis to hoax citizens. In a series of consumer fraud alerts published throughout March, Manchester city council and the counties of Pembrokeshire and Norfolk echoed the Financial Conduct Authority (FCA)’s caution against “sophisticated” and “opportunistic” cryptocurrency-related schemes operating during the pandemic.MisrepresentationsThe three regional authorities identify a range of tactics adopted...

PAX Gold Can Now Be Traded Against Swiss Franc and British Pound

While global stock markets are experiencing extreme turmoil, cryptocurrency projects keep introducing more ways to trade gold-backed assets twenty-four hours a day.PAX Gold (PAXG), a major cryptocurrency pegged to physical gold, has now rolled out for trading against two European fiat currencies — the Swiss franc (CHF) and the British pound (GBP).The new trading pairs became available when Switzerland-based digital asset exchange Smart Valor listed PAXG on its platform on March 19.As...

Fintech in the United Kingdom After Brexit

The first round of negotiations between the United Kingdom and the European Union to determine their future, post-Brexit relationship took place between March 2 and March 5 in Brussels, Belgium. The outcome of these negotiations will shape the way the two work together following the end of the transition period, currently scheduled to extend through Dec. 31.For the financial technology sector, the discussions surrounding the future U.K.–EU regulatory relationship as it relates...

Protecting Crypto Holdings Becoming Mainstream

Insurance underwriters associated with Lloyd’s of London are now backing a new liability policy designed to protect cryptocurrency stored in online wallets. With a modest minimum of 1,000 British pounds ($1,275) in protected assets and rather flexible terms, the product seems to be geared for retail and corporate investors. But who is behind the novel service, and how will the policy work?Forces behind the innovationDespite the enthusiasm expressed in early media accounts...

Blockchain.​Com Now Offers Crypto Lending Service to All Users

Amid the ongoing growth of the cryptocurrency lending industry, major crypto wallet service Blockchain.com launches a new lending product for all users, not just institutions.After first launching an institutional crypto lending desk in August 2019, Blockchain.com is now rolling out its crypto lending service to all users across more than 180 countries, the United Kingdom-based firm announced to Cointelegraph on March 10.Borrow allows users to borrow Paxos Standard against Bitcoin at the...
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