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Crypto

UK ranks crypto third economic crime priority, tightens money laundering probes

British investigators have identified crypto assets as a key risk factor in tackling money laundering and fraud and are moving to strengthen their investigative capabilities. Crypto assets were classified as the third item among the United Kingdom\'s nine economic crime response priorities. The National Economic Crime Centre said criminal groups use cryptocurrencies to evade detection and move illicit funds at scale, and it plans a more proactive, intelligence-led approach.

Crypto

UK considers allowing retail investors access to Polymarket and Kalshi after 7-year ban

Britain\'s Financial Conduct Authority is considering whether to ease restrictions that have limited retail investors\' use of prediction markets, reports said. The review involves discussion over whether to relax a ban on binary options for retail customers in place since 2019. Platforms under consideration include Polymarket and Kalshi, which offer binary-options-style contracts on outcomes of events such as sports, politics and weather. The FCA has not lifted the ban and is still at the review stage.

Crypto

UK banks block 40 percent of bitcoin transfers, blanket rules face scrutiny

A parliamentary inquiry has been told that British banks are maintaining blanket restrictions even on legal bitcoin transactions. Bitcoin Policy UK submitted evidence to an inquiry by a cross-party parliamentary group on crypto and digital assets and said banks’ approach has not improved over the past three years. The group said about 40 percent of transfers from banks to crypto exchanges are blocked or delayed, and named banks applying bans or limits.