Crypto-Friendly British App Revolut Reportedly Tripled Losses in 2019

Revolut’s losses in 2019 surged over 200% due to investment in international expansion, Revolut founder and CEO says. Revolut, a crypto-friendly trading app and one of the biggest fintechs in Europe, reportedly tripled its losses in 2019 despite growth in revenue and new customers. The London-based company reportedly posted a total loss of more than 106 million British pounds ($139 million), up from about 33 million pounds ($43 million) in 2018. Nik Storonsky, founder and CEO at Revolut, outlined that the massive losses in 2019 came despite a significant surge in customers, CNBC reports Aug.

British Farmer Attempted £1.4M Bitcoin Extortion from Tesco by Contaminating Baby Food

Nigel Wright, a 45-year-old sheep farmer from Lincolnshire, England, has been accused of trying to extort Bitcoin worth £1.4 million, approximately $1.8 million, from retail giant Tesco.

The Onecoin Debacle: Indictments Unsealed, 2 Dead in Mexico, Story Gets ‘Darker’

The Onecoin fiasco is still making headlines these days as a number of alleged money laundering companies were exposed on July 25, two Onecoin leaders were recently killed in Mexico, and the British author Jamie Bartlett revealed a new “Missing Cryptoqueen” episode is coming soon.

Robinhood Postpones UK Launch 'Indefinitely,' Freezes Global Expansion Plans

The popular stock and crypto trading app has put its global expansion plans on hold. Robinhood, the Silicon Valley-based stock and cryptocurrency investing app popular among younger generations for its "gamified," user-friendly interface and zero-fee trading, has reportedly decided to abort its launch in the United Kingdom “indefinitely”. According to CNBC on July 21, Robinhood informed its British customers who had been signed up to the waitlist since November that the company will be focusing on its home market in the near future.

UK Treasury Wants to Bring Crypto Ads Under Direct Gov’t Oversight

British consumers need stronger rules to protect them from deceptive crypto ads, says UK minister. The government of the United Kingdom believes that current rules do not go far enough to protect consumers from misleading crypto ads and is advocating change. New proposals published on July 20 would, if approved, bring the promotion of certain types of crypto assets under direct regulation from the Financial Conduct Authority — or FCA — for the first time. The UK’s Economic Secretary to the Treasury and City Minister, John Glen, said: “It’s important that people can understand the financial products they see promoted.

‘Wonder Woman’ Illustrator and British Artist Terry Flaxton to Sell Ethereum-Backed Art

The non-fungible token (NFT) and blockchain-backed collectible economy continue to see demand and the digital art market Makerplace has seen enormous growth recently.

Despite Rumors, Piers Morgan's ‘Announcement’ Isn’t Bitcoin-Related

The well-known British journalist clarified in a tweet prior to the announcement of his new book that the announcement was not related to Bitcoin. British journalist and TV personality, Piers Morgan, made his “big announcement” on Twitter on July 16 —  but despite social media rumors about a potential Bitcoin endorsement it wasn’t crypto-related  Instead Morgan said he’ll be launching a book related to a “liberal war” and COVID-19 called Wake Up.

Rare 4K digital art depicting fall of man hits Ethereum-based market

British digital artist Terry Flaxton has put his first piece up for sale on MakersPlace, a blockchain-based marketplace for rare art.

European Digital Bank Revolut Expands Bitcoin Trading Services to 49 US States

British digital bank Revolut said Wednesday that it will start offering its cryptocurrency trading services in the US Users in 49 US states, excluding Tennesee, can now buy and sell bitcoin (BTC) and ethereum (ETH) through the Revolut app, it said.

Revolut's Crypto Trading App Expands to 49 States Following Significant Delays

UK fintech giant Revolut makes crypto available to its users in 49 states following significant delays. Major British fintech firm Revolut is expanding its cryptocurrency trading services in the United States. As of July 15, users across the country — with the exception of Tennessee — can trade cryptocurrency on Revolut's app. The original plan was to introduce this service in April.

Islanders Demand Return of ‘.IO’ Domain From Colonizers

The ‘.io’ domain name has become part of a complaint against the UK for alleged human rights violations tied to its continuing administration of territories in the Indian Ocean. The popular ‘.io’ domain name has become part of a complaint against the United Kingdom for  alleged human rights violations tied to its continuing administration of territories in the Indian Ocean.  Sales of the ‘.io’ domain name are being contested as a part of a complaint filed by former islanders of the Chagos Archipelago, which has been at the center of a territorial dispute between Mauritius, a former British colony, and the UK since the 1980s.  Now highly popular with numerous crypto, blockchain and other tech companies — not to mention various scams — ‘.io’ was formally the country code top-level domain (ccTLD) designation for “Indian Ocean.” Despite this, the domain name was acquired on the open market in the late 1990s by a UK-based firm, Internet Computer Bureau (ICB).  The UK government receives an undisclosed share of revenue from sales of .io, in what the complaint claims is part of its ongoing colonial expropriation of the economic property and livelihood of the former islanders: “The ccTLD .IO rights are a valuable property and generate millions of dollars in fees for ICB annually.

Binance Expands Fiat Gateway to Support 15 New National Currencies

Binance added support for the new currencies through a partnership with crypto asset and fiat money institutional custodian Etana Custody. Major cryptocurrency exchange Binance has added support for deposits in 15 additional fiat currencies to its platform. According to a July 7 announcement, Binance added support for the United Arab Emirates dirham, Australian dollar, Canadian dollar, Swiss franc, Czech koruna, euro, British pound, Hong Kong dollar, Danish krone, Hungarian forint, Mexican peso, Norwegian krone, New Zealand dollar, Polish złoty and Swedish krona. Binance added the new currencies through a partnership with crypto asset and fiat money institutional custodian Etana Custody. Binance CFO Wei Zhou told Cointelegraph that users can transfer the funds via SWIFT wire transfer, adding, "After linking Binance accounts to Etana accounts, Binance users can wire funds directly from their bank accounts to Etana, and then have their Etana fiat balance credited to the corresponding Binance accounts instantly and free of charge by initiating a fiat deposit request on Binance." A more accessible fiat onramp for Binance users Etana’s onboarding process includes Know Your Customer and Anti-Money Laundering checks compliant with the Bank Secrecy Act.

Russian TON Investors Decry UK Firm’s ‘c. USD 1.5m Commission Fee’

Russian investors in the failed Telegram Open Network (TON) token launch said they have reported a British brokerage they said is withholding almost USD 1.5 million of their funds to the Moscow-based federal investigating authority. Per a Telegram post from Baza, the group has taken its case to the Investigative Committee of Russia after alleging that an unnamed UK-based

Russia to Reportedly Investigate an Allegedly Fraudulent TON Offering in UK

Russian prosecutors are reportedly investigating a British firm that allegedly sold fraudulent Gram tokens. Shortly after lifting the country’s Telegram ban, Russian authorities began investigating potentially fraudulent offerings involving the company’s unlaunched token, Gram.

UK’s FCA: Number of British Investors Buying Bitcoin Doubled in 1 Year

The UK’s Financial Conduct Authority (FCA) says the number of British people buying Bitcoin doubled in a year.

A ‘Significant Increase’: UK Regulator Says 2.6 Million Residents Have Bought Cryptocurrencies

The UK’s top financial regulator has conducted a survey and found a “significant increase” in the number of crypto owners and awareness of cryptocurrencies.