Cryptocurrency

[AtW]

It is identical to moving into gilts from shares.

So I could sell my non-ISA shares tax free if I buy gilts with £££ from share sale?

[d000hg]

I got this today from Santander:

Dear d000hg

We’re stopping payments to Binance for your protection

We want to let you know that from 8 July 2021, we’ll be stopping payments from Santander accounts to Binance wherever possible. This follows the Financial Conduct Authority (FCA)’s recent warning to consumers and is to help protect you from fraud. For now, we won’t be restricting payments from Binance into your account(s).

We’re taking this step as we want to do everything we can to protect you and help keep your money safe. We’ll continue to monitor the situation, and let you know if anything changes.

Investment in crypto assets can be high risk
In recent months we have seen a large increase in customers in the UK becoming the victims of cryptocurrency fraud.

Now, protection against fraud is very important but telling me what I can and can't do with my own money... should that be their call?

[AtW]

I got this today from Santander: Now, protection against fraud is very important but telling me what I can and can't do with my own money... should that be their call?

It’s a nothingburger!

Also you are now tagged as a tulipcoins wannabe, potential tax evader and money launderer, possibly terrorist financier - this information was shared with the single database used by all British banks and used in decisions whether to open account or not, have a nice life without real money (aka fiat).

[d000hg]

It’s a nothingburger!

Also you are now tagged as a tulipcoins wannabe, potential tax evader and money launderer, possibly terrorist financier - this information was shared with the single database used by all British banks and used in decisions whether to open account or not, have a nice life without real money (aka fiat).

I have never transferred money to or from a Binance account. I am guessing they sent this to everyone?

[Whorty]

I have never transferred money to or from a Binance account. I am guessing they sent this to everyone?

I'm sure Natwest put something similar on their accounts a few weeks ago ... or some such warning about transferring cash to Bitcoin. Just a general catch all to try to dissuade the masses from filling up the coffers of the few.

[AtW]

“Santander to block payments by UK banking customers to Binance

Decision severs another link between traditional financial institutions and the crypto exchange

Santander joined Barclays as the latest British high street bank to block retail customers from sending money to Binance, following the UK financial watchdog’s warning about the international crypto exchange. The bank notified customers that it would stop payments from their accounts to Binance “wherever possible” starting from Thursday, but would still allow them to withdraw cash from the exchange.”

https://www.ft.com/content/a699c495-...d-73571daa77a1

Hopefully US/EU will follow - ban withdrawals also, those who wanted tulipcoons should get used to idea of keeping them forever

[d000hg]

Of course you can just send your crypto between Binance and another exchange which isn't blocked, and do deposits/withdrawal that way.
This move only blocks inexperienced traders which is perhaps no bad thing, there is no reason a noob in the UK needs to use Binance when Kraken and others are available.

[AtW]

More nothingburgers every day -

"Clear Junction can confirm that it will no longer be facilitating payments related to Binance. The decision has been made following the Financial Conduct Authority’s recent announcement that Binance is not permitted to undertake any regulatory activity in the UK.

We have decided to suspend both GBP and EUR payments and will no longer be facilitating deposits or withdrawals in favour of or on behalf of the crypto trading platform. Clear Junction acts in full compliance with FCA regulations and guidance in regards to handling payments of Binance."

https://clearjunction.com/news/binance-transactions/

This PoS Ponzi Scheme of 21st century will go down as inflows of money from new mugs goes down and existing scammers sell out.

[AtW]

“Crypto exchange FTX sets sights on blue-chip acquisitions

The 29-year-old billionaire owner of FTX has ambitions as lofty as buying Goldman Sachs

Some of the world’s most prestigious financial institutions could become acquisition targets for young cryptocurrency companies, according to the 29-year-old chief executive of digital coin exchange FTX. Sam Bankman-Fried told the Financial Times the company he founded in 2019 could consider buying an established financial institution such as US banking giant Goldman Sachs or exchange CME Group, once it overtakes rivals Coinbase and Binance. “If we are the biggest exchange, [buying Goldman Sachs and CME] is not out of the question at all,” said Bankman-Fried.”

https://www.ft.com/content/c8ffb228-...b-be7203d71e7d



This madness must end soon - your move Goldman

[AtW]

Future of money -

"Exchange Providers Halt BSV Services as Mining Pool Captures 78% of BSV Network Hashrate

The cryptocurrency community has been discussing the Bitcoinsv network as a mining pool called Taal has well over 51% of the hashrate. Data from the analytical crypto website Coin Dance shows the mining pool Taal commands over 78% of the network’s hashrate during the last 24 hours. On Tuesday, the European cold storage provider, Gravity, says it has suspended bitcoinsv trading “due to several large exchanges disabling BSV deposits [and] withdrawals.”
Following Blockchain Reorganization Attack Last Week, Taal Captures Well Over 51% of the Bitcoinsv Network’s Hashrate


According to statistics, a mining operation called Taal currently commands well over 51% of the Bitcoinsv (BSV) network’s hashrate. On Wednesday, the mining pool Taal captures more than 78% of the BSV hashrate in terms of distribution among five known pools and 13% of unknown hashrate. Data from the web page sv.coin.dance/blocks indicates that during the trailing seven days, Taal commanded 69% of the network’s hashpower. Block details show that a great majority of BSV blocks have been found by Taal’s operation."

https://news.bitcoin.com/exchange-pr...-bsv-hashrate/