Bitcoin News — London

Brewdog Brand Welcomes Bitcoin Cash

Posted by Kai Sedgwick on

Brewdog Brand Welcomes Bitcoin CashOne of Britain’s best known breweries is welcoming Bitcoin Cashers to its new bar. Scottish firm Brewdog, which boasts of making “beer for punks”, will be giving away £3,000 (US $4,000) at the opening of its Canary Wharf bar on October 19. The bar will be accepting BCH (and BTC) as payment, funded with the […]

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Surveys: 1 in 4 Millennials Want to Invest in Crypto, 3% of China Already Has

Posted by Samuel Haig on

Survey Round-Up: 3% of China Has Invested in Crypto, 1 in 4 Millennials Want toIn recent cryptocurrency surveys, a poll of 100,000 Chinese citizens has found that 3% have invested in cryptocurrencies, and a survey conducted by Circle has found that a quarter of millennials would like to invest in crypto assets in the next 12 months. In addition, a survey by UK-based Rathbone Investment Management has found that […]

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Nigerian President Demands HSBC Bank Return $100M in Stolen Money

Posted by Jeffrey Gogo on

Nigerian President Demands HSBC Bank Return $100M in Stolen MoneyNigerian authorities have demanded that HSBC Bank returns about $100 million that late dictator Sani Abacha looted from the oil-rich West African country, allegedly with help from the British multi-national bank. Also read: Poor Internet Access Could Slow Down Cryptocurrency Growth In Africa ‘Return Our Stolen Assets’ President Muhammad Buhari has demanded HSBC Bank returns up to […]

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Coinbase: 42% of World’s Best Universities Offer Crypto Courses

Posted by C. Edward Kelso on

Coinbase: 42% of World’s Best Universities Offer Crypto CoursesThe ecosystem’s largest bank and quasi-exchange, Coinbase, commissioned a survey about higher education (students and faculty) attitudes toward crypto and blockchain. They found over 40% of leading universities around the world offer at least one course in blockchain or crypto, and 25% of all students, regardless of major, said they would consider taking classes in […]

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UK Watchdog Warns of Crypto Scams Using ‘Prestigious’ London Addresses as Smokescreen

Posted by Marie Huillet on

The U.K.’s Financial Conduct Authority (FCA) has said that crypto investment scams are increasingly targeting British investors.

The U.K.’s Financial Conduct Authority (FCA) has said that crypto investment scams are increasingly targeting British investors, in an official warning published August 17.

The watchdog warns that fraudsters often use celebrity images, slick websites or “prestigious” City of London addresses as a smokescreen through which to lure prospective investors. It adds:

“Scam firms can manipulate software to distort prices and investment returns. They may scam people into buying non-existent cryptocurrencies. They are also known to suddenly close consumers’ online accounts and refuse to transfer the funds to them or ask for more money before the funds can be transferred.”

The FCA notes that cryptocurrencies themselves are not currently regulated by the agency, meaning that many crypto exchanges and other brokers fall beyond its remit. The agency does however regulate crypto derivatives — including futures, contracts for difference (CFDs), and options.

In these cases, the FCA advises investors to check whether the firm in question has received the required authorization to sell or advertise these products, or to go through its ScamSmart warning list of firms to avoid.

This month, the agency has already issued two warnings over so-called crypto “clone firms” falsely claiming to have FCA authorization.

The FCA further advises that anyone who has already invested in а scam is likely to be a target for a “follow-up.” This “may be completely separate or [otherwise] related to the previous fraud, such as an offer to get your money back or to buy back the investment after you pay a fee.”

Just last week, U.K. police issued their own warning to the British public over fraudulent crypto investment schemes, after statistics from the Action Fraud national reporting center showed that U.K. victims reported crypto-scam related losses of $2.5 million in June and July 2018 alone.

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