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PayPal’s Unexpected UK Crypto Freeze
In response to the impending crypto travel rule, PayPal has placed a temporary hold on cryptocurrency transactions in the UK. This decision, set to last until the early months of 2024, has been influenced by the tightening grip of regulatory measures. The UK’s financial watchdog, the Financial Conduct Authority (FCA), has been at the forefront […]
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Is PayPal’s Stablecoin the beginning of legitimacy?
So firstly, what is a Stablecoin? At its core, a stablecoin is a type of cryptocurrency designed to minimise price volatility. Unlike traditional cryptocurrencies, whose values can fluctuate dramatically over short periods, stablecoins aim to maintain a stable value. They achieve this stability by pegging their value to a reserve of assets, often traditional currencies like […]
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Is Crypto Trading Gambling?
The UK’s HM Treasury has recently addressed the controversial proposal to regulate cryptoasset trading as gambling. The House of Commons Treasury Committee cited high volatility and ‘lack of intrinsic value’ in cryptoassets like Bitcoin and Ether. However, HM Treasury has firmly rejected this call. The Proposal and HM Treasury’s Response In May 2023, the Treasury […]
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EU Parliament Paves the Way for Groundbreaking Crypto Legislation, MiCA, to Launch in 2024
The European Union (EU) Parliament has approved the pioneering Markets in Crypto-Assets (MiCA) regulation in a 517-38 vote, making it the first major jurisdiction to establish a comprehensive crypto law. Additionally, the EU Parliament voted 529-29 in favor of the Transfer of Funds regulation, a separate law that requires crypto operators to identify their customers, […]
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