This month, digital asset enthusiasts descended on London for a major networking event organised by [CC Data](https://summit.ccdata.io/). 

The Institutional Digital Asset Summit has become a significant event, attracting international attendees and notable speakers contributing to a wide range of topics. 

Here, we take a look at what was on the agenda for the 2023 summit. 

## What is CC Data? 

Founded almost a decade ago, CC Data provides digital asset data to institutions and investors. Formerly known as CryptoCompare, [the organisation](https://ccdata.io/) is focused on safeguarding data integrity and ensuring consistency in market data by standardising global sources. 

CC Data is renowned for investing in tech and infrastructure to enhance its services and is part of a movement to encourage digital asset adoption. 

The Institutional Digital Asset Summit (CCDAS), in London, is part of fostering that engagement. 

CC Data was co-founded by Charles Hayter and Vlad Cealicu, who serve as CEO and CTO respectively. 

## CCDAS 2023 

Held over two days at the start of the month, the summit covered a wide range of hot topics. 

The summit began with a networking event for VIP guests, a chance to rub shoulders with influential figures in the digital asset and wider investment worlds. As with similar events, the opportunity to make face-to-face contact with movers and shakers is a major attraction of the CC Data summit. 

Perhaps one of the most important agenda items was a discussion on future-proofing the digital asset industry. This looked at how to ensure continued growth in the sector amid global regulatory uncertainty. 

Jurisdictions worldwide are grappling with regulation to make digital asset investment a safer space. There is a well-recognised need to protect investors, but many countries have struggled to understand how to impose rules which give that protection without stifling innovation. 

The need for regulation gathered pace following last year’s dramatic [collapse of the FTX exchange](/news/article/ftx-bankrupt-who-to-blame), leading to some jurisdictions considering knee-jerk rules that would harm the growth of the digital assets sector. 

With the background, it was a timely subject to feature prominently on the CC Data DAS agenda. 

## Other discussion points 

The summit agenda also included many more fundamental considerations about the present and future of the digital asset sector. 

The scene was set with the opening presentation, considering the past, present, and future of cryptocurrency. 

One session examined how institutional investors are shaping the digital asset landscape and how that should be managed. Another delved into the derivatives market, studying exposure and leverage within the digital asset ecosystem. 

One agenda item that caught attention ahead of the summit focused on the role of venture capitalists and their role in driving digital asset growth. It is becoming commonplace for venture capital to play a significant role in the development of many digital asset platforms and offerings, and the summit examined how this works and whether it is beneficial. 

[Tokenisation](/news/article/tokenization-importance-explained) is a hot topic in crypto circles, so it was unsurprising to find a session dedicated to studying trends in traditional tokenisation and looking beyond crypto. 

Attendees were also able to hear the latest thinking on digital asset investment products, from the current ETFs (exchange-traded funds) to innovative new products that could hit institutional markets soon. 

In common with many similar crypto-centric conferences, CC Data DAS 2023 included a number of ‘fireside’ chats, informal interviews with leading lights in the digital asset space. Among these were representatives of LMAX Digital, the institutional cryptocurrency exchange, as well as the UK Financial Conduct Authority. 

The latter was fundamentally important following the rollout of strict new crypto rules in the UK during 2023 and with further regulatory steps due to come into force. 

## The speakers 

The roll call of speakers scheduled for the 2023 CC Data Digital Asset Summit read like a veritable who's who of finance and digital asset leaders. 

The Chair of the UK Parliament Crypto and Digital Assets All Party Parliamentary Group, Dr Lisa Cameron MP, and FCA Head of Capital Markets Helen Boyd were among the headline guests due to appear. 

Other leading figures on the roster included Bitcoin educator Dan Held, Bitstamp CEO JB Graftieaux, Wilshire CEO Mark Makepeace, and Tyrone Lobban, MD of Onyx by JPMorgan. 

The City of London, arguably the global HQ of financial services, was represented by Lord Mayor Michael Mainelli. 

## More than just talk 

Of course, conferences like this are not just an opportunity to hear from star speakers and network. The CC Data summit was also an opportunity for businesses to exhibit. 

Many conference attendees measure the value of an event by the quality of the organisations represented. Having the City of London, the UK Parliament, and the FCA represented matters, but it is equally important to see big financial names in attendance. 

The reputation of CCDAS has been enhanced by the ability to attract traditional institutional investors to this digital-asset-focused forum. These have included the likes of HSBC, UBS, Citi, Morgan Stanley, JPMorgan, and Standard Chartered. 

Its value has been further enriched by the attendance of finance players such as the Nasdaq, the London Stock Exchange Group, and S&P Global. 

Of course, no digital asset conference would be valuable without representatives of the cryptocurrency sector and digital asset champions. Again, CCDAS has scored well, with the likes of Ripple, Crypto.com, Coinbase, and Bitstamp contributing. 

## The coverage 

Anyone involved in cryptocurrency knows that widespread mainstream media coverage of digital assets usually only happens when something goes wrong, like a market crash, hack, or platform implosion. 

Another strength of CCDAS has been its ability to attract representatives of leading reputable global media outlets. These have included the BBC, Financial Times, Bloomberg, Wall Street Journal, and CNBC, among many more. 

CCDAS logo on image of people reading crypto data on an ipad

CC Data Hosts Digital Assets Summit 

The [digital pound ](https://www.bankofengland.co.uk)is a proposed central bank digital currency (CBDC) being explored by the Bank of England. It aims to coexist alongside physical cash and serve as a government-backed, stable digital currency accessible to everyone for day-to-day spending. Issued by the Bank of England and denominated in sterling, it ensures reliability and stability. 

The purpose of the CBDC is to enhance payment options and address the changing landscape of digital transactions. Users can access their digital pound balance, make purchases, pay bills, transfer funds, and more through a digital wallet on smartphones or other devices. 

It promotes monetary stability and financial inclusion by offering a reliable, government-backed means of exchange. 

Currently, the Bank of England is in a [consultation phase,](https://www.bankofengland.co.uk/-/media/boe/files/paper/2023/the-digital-pound-consultation-working-paper.pdf) gathering input from individuals, businesses, and organizations to shape the design and policies of the digital currency. Following the consultation, a two to three-year design phase will explore technological and policy requirements. If outcomes are favourable, a build phase may lead to issuance in the decade's second half. The Bank of England aims to engage with various stakeholders to understand the potential impact and ensure diverse perspectives are considered in shaping the future of the digital pound. 

## A new era of digital money 

The digital currency, if introduced, would be a new type of money issued by the Bank of England. It would be a digital equivalent to physical banknotes, denominated in sterling and maintaining a stable value. This digital currency would be accessible to everyone for day-to-day spending, both in-store and online. 

Furthermore, the [digital pound](/news/article/crypto-price-uk) has the potential to enhance financial inclusion by offering a user-friendly and widely accessible digital currency, reaching unbanked and underbanked populations who may face challenges accessing traditional banking services. 

The UK CBDC could facilitate faster and more cost-effective cross-border transactions, boosting trade and economic growth. 

## Distinguishing characteristics 

As a CBDC, the proposed digital currency by the Bank of England possesses several unique features that differentiate it from traditional cryptocurrencies and other forms of digital money: 

- Government support: This digital currency would be issued by the Bank of England and backed by the government, ensuring its reliability and stability in contrast to privately issued cryptocurrencies. 

- Stability in value: The value of this digital currency would be denominated in sterling, which means it would maintain a stable value relative to the British pound and not experience the extreme volatility often seen with cryptocurrencies. 

- Coexistence with physical currency: Unlike some digital currencies aiming to replace cash entirely, this CBDC is designed to coexist alongside physical banknotes, providing an additional payment option rather than replacing existing ones. 

- Wide accessibility: This digital currency would be accessible to everyone for day-to-day spending, both in-store and online, ensuring that it serves as a viable payment option for the general public. 

- Improved financial inclusion: By offering a digital currency that is widely accessible and easy to use, this CBDC could potentially enhance financial inclusion, reaching unbanked and underbanked populations. 

- Monetary stability: As a CBDC, this digital currency would maintain monetary stability, as the [Bank of England](/news/article/uk-sought-cbdc-head) would directly influence its issuance and circulation. 

These unique features make the proposed CBDC a groundbreaking development in digital currencies, providing individuals and businesses with a secure, convenient, and government-backed digital payment option. 

## Conclusion 

The digital pound represents an exciting development in the evolution of money. As technology continues to transform payment systems and digital transactions become increasingly prevalent, a central bank digital currency like the one proposed holds the potential to provide a secure, convenient, and government-backed digital payment solution for individuals and businesses. 

The ongoing consultation process ensures that public input is considered in shaping the design and policies of this digital alternative. 

yellow image of pound coins and digital pound statistics

Understanding the digital pound 

The Matt Hancock NFT [dominated headlines](https://www.independent.co.uk/news/uk/politics/matt-hancock-nft-ukraine-refugees-b2287181.html) in the mainstream media during the second month of the year after the former top Tory, who appeared on I’m a Celebrity…Get Me Out of Here! said he was using digital arts to raise funds for war-fleeing Ukrainian refugees. 

The non-fungible tokens ([NFT](/news/article/trump-nfts-fundraising-or-fad)) dubbed From Ukraine with Love comprises a 15-piece collection by artist Oleg Mischenko. 

Mischenko is a current resident of the UK and his family was housed by Matt Hancock until they left for their own home in Suffolk in February. 

According to the Independent UK, the digital collection was auctioned off during the last week of February, and about 10% of the funds went directly into the coffers of Mischenko's family's accounts. 

The same news article disclosed that the remaining 90% was allocated to the charity Care International Ukraine. 

The Russia/Ukraine crisis has affected many Ukrainians. Mischenko believes that after years of dedicating his life to painting, his art expressed as an NFT collection is a way of defending his country’s philosophy, European way of life, and cultural values.  

The former Health Secretary also made it known that he is highly honoured to be part of Ukraine's humanitarian effort. 

## Which marketplace was chosen for Matt Hancock NFT? 

[NFT marketplaces](/news/article/binance-nft-marketplace-explained) play an integral role in the sale of digital collections. During the announcement, the former government executive revealed that [Coinbase’s NFT marketplace](https://nft.coinbase.com/collection/ethereum/0xec46cf8e006e2118cebb3355b32e7a281c814550?saleType=buyNow) had been chosen for the Matt Hancock NFT collection auction. 

While details of the amount of money made from the collectibles have not been revealed, data from the marketplace shows that eight out of 386 items have been minted with around seven owners. 

Essential details needed for the thorough assessment of the digital arts, such as [floor price](https://www.binance.com/en/blog/ecosystem/what-is-an-nft-floor-price-421499824684903904) (the lowest-priced NFT within a project which is highly critical for measuring the intrinsic value of a virtual art) and all-time volume (an important metric for evaluating the amount of liquidity being poured into a collection) are missing. 

With that said, items such as Frosty Morning in Slavske, Ancient Wooden Church in Sedniv, Lviv Market Square, Lilac With A Boat, Crimea Sea, Genoese Fortress in Balaklava, and Meeting Near The Dnipper have been listed.  


## Matt Hancock NFTs not only project preserving Ukrainian culture  

During Consensus 2022, [Michael Chobanian](https://www.coindesk.com/policy/2022/06/11/ukraine-to-use-nfts-to-save-its-cultural-dna-amid-russian-invasion/), the Blockchain Association of Ukraine's President, told CoinDesk, a crypto news portal, that the country would be using the possibilities of blockchain technology and NFTs to digitize every single piece of history and art. 

This decision was made in unison with Alex Bornyakov, the Ministry of Digital Transformation’s Deputy Minister.  

His comments came in June 2022, four months after Russia attacked Ukraine. 

Before CoinDesk’s Consensus 2022, Ukraine launched a “[MetaHistory NFT Museum](https://www.coindesk.com/tech/2022/03/25/ukraine-launches-nft-museum-to-raise-funds-and-remember/)” project to raise funds and remember.  

One of the main features of NFTs is immutability, indivisibility, and verifiability. Artists were given a chance to contribute to the Digital Museum by submitting a portfolio of work that was reviewed by the country's Ministry of Digital Transformation. 

Ethereum, the biggest NFT blockchain by all-time sales volume, was chosen to house the digital art. 

MetaHistory NFT did not disappoint, as around $600,000 was raised from the sale of 1,282 artworks on the first day.  

## Are NFTs the way to go?  

Global NFT market sales have crossed [$50 billion](https://www.cryptoslam.io/nftglobal) in all-time volume from the activities of over 11 million buyers involved in more than 190 million transactions.  

While projects from Dapper Labs, Ava Labs, and Yuga Labs continue to dominate the market in terms of commercial sales, the impact of NFTs transcends the digital art community.  

Over the past two years, NFTs have played an instrumental role in giving freedom to artists in the music industry and have become one of the main marketing tools for fashion brands worldwide. 

Aside from that, event companies that struggled with the forging and duplication of tickets have saved huge sums of money due to the immutability and security blockchain-based NFT tickets provide. NFTs are also being used in supply chain management.  

[Bored Apes](/news/article/bored-ape-nft), Mutant Apes, and Top Shots continue to make billions for digital art enthusiasts, but humanitarian-backed digital collections like Matt Hancock NFTs are also helping to not only preserve culture but improve the lives of millions. 

What is the latest on the Matt Hancock NFT collection? 

In February 2023, the Bank of England (BoE) and HM Treasury, a department of the UK Government, issued a consultation paper for the potential launch of a retail CBDC. 

It discusses the rapidly evolving payment system and proposes that the Digital Pound might be the future solution for households and businesses. 

A CBDC (Central Bank Digital Currency) is best explained as a digital fiat currency that can be used for everyday needs. The consultation paper suggests that the UK Government believes in and supports the idea of CBDC. The government is currently preparing for the launch of CBDC by evaluating the policy framework and the technology. However, the final decision on its launch is expected in 2025. 

Let's explore the Digital Pound and why the government is so keen to launch it in the country. 

## CBDC UK: Government preparing to launch Digital Pound 

The HM Treasury and the BoE have mentioned in the consultation paper that the CBDC UK is "likely to be needed". It explains that payment systems have become more digitised, and cash usage has dropped significantly in the past decade.  

Additionally, crypto assets have become increasingly popular for investments and cross-border money transfers. It poses a potential threat to the Pound Sterling in the future. Therefore, the government has started to prepare for the launch of CBDCs.  

Many people call the Digital Pound a Britcoin or a digital Sterling. This virtual currency’s main task would be facilitating payments for households and businesses. It will be designed to provide a secure payment method to consumers for their day-to-day tasks.  

However, the [HM Treasury and BoE](/news/article/cbdc-uk) have yet to decide to launch Britcoin. Currently, they are evaluating the technological requirements and other resources that will be necessary to deploy a CBDC in the country. The report says that in the next couple of years, their goal would be to observe innovations in this field while preparing for its launch. We can expect a final decision about its introduction by 2025.  

## How would a Digital Pound work? 

The virtual Sterling will be issued by the UK's central bank, the BoE. You can easily store it on your smartphone wallet and use it for various transactions. There can be further innovations for its usage, like a smart card that could store the value just like a debit or credit card. It may create further ease for consumers as swiping cards would be more convenient. 

Although CBDCs and cryptocurrencies are quite different assets, they both use a core distributed ledger. Users would have to set up their wallets with a wallet operator. Then the wallet operators can use BoE infrastructure through the distributed ledger and offer the digital pounds to the users. 

There are many concerns regarding the state surveillance of user data through CBDCs. The consultation paper addresses these concerns and states that the BoE will act as the centralised authority for the virtual currency. 

However, the paper emphasises that the BoE will not have access to user data. Instead, the responsibility of handling and securely storing data will be entrusted to wallet operators. 

## Why do we need a Digital Pound? 

The consultation paper for the virtual pound has enumerated various reasons why a CBDC has become necessary. Some of them include: 

- The increasing use of cards and digital payments instead of cash. 

- The rising popularity of cryptocurrencies.  

- The high cost of cross-border payments. 

- Ensuring the sovereignty of the central bank and Pound Sterling. 

- Promoting innovation and efficiency in the financial sector. 

These reasons for introducing a virtual currency are valid but mostly reflect the government’s perspective. However, a CBDC can also benefit consumers in various ways. 

- It will make payments more convenient for consumers. 

- It can significantly reduce the cost of money transfers. 

- It may improve financial inclusion by making it easier for people to access and use financial services. 

- Instant money transfer to other countries.  

## What is the CBDC UK Government timescale? 

Central banks globally have been exploring the idea of CBDCs for a long time. The BoE is among one those that started early and completed its initial research in 2022. However, it has announced three phases for a possible launch of its Britcoin. 

In February 2023, it published two papers; The Digital Pound: a [New Form of Money ](https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1160409/CBDC_WEB_PDF_-_1_JUNE_2023_4.20pm.pdf)for Households and Businesses? Consultation Paper and The Digital Pound: [Technology Working Paper.](https://www.bankofengland.co.uk/-/media/boe/files/paper/2023/the-digital-pound-technology-working-paper.pdf) 

This marked the first phase of the Digital Pound roadmap, which has initiated discussions on how CBDC UK can be implemented. Meanwhile, the consultation deadline is 7 June, 2023. 

![chart showing phases of UK CBDC](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_06_06_at_13_15_08_f993c1e5c0.png)

For the second phase, the BoE has given an estimated period of 2023 to 2025. Most of the work on its design and infrastructure will take place in this phase. Finally, the development of prototypes will be done in the last phase, which is expected to be completed by early 2025.  

Only after going through these phases will the HM treasury and BoE decide on the CBDC's launch. So, a retail [CBDC UK Government launch](/news/article/cbdc-bank-of-england) would take several years and is unlikely in the first half of this decade, just as John Glen predicted in 2021.  

## Potential risks of Digital Pound 

Although there are many benefits of CBDC, it poses several risks too. To deploy an infrastructure of CBDC, the UK government needs to overcome the following challenges: 

- State surveillance: It is the most important challenge for the government as it has to ensure consumers the safety of their data and complete control over their funds. 

- Cyber crimes: Distributed ledgers are secure and transparent but can be vulnerable to cyberattacks. Therefore, the government must have a robust CBDC infrastructure.   

- Offline payments: It is another critical area, as internet access is limited in some places, which may cause limitations for consumers. 

- Economic instability: If the Digital Pound became a widely accepted payment method, private banks and firms may suffer financially, which could cause financial instability.  

From reducing money exchange costs to more financial inclusion - a Digital Pound may have many benefits for household and business usage. However, the UK Government must consider potential risks to design a secure CBDC that protects people's privacy. 

UK government building with cbdc coins in foreground and yellow filter

CBDC UK: Government gearing up for Digital Pound 

[Enter the Metaverse London](https://techcircus.io/en/events/enter-the-metaverse-london-2) was an event that aimed to introduce a new world of digital to its attendees.

The event featured thought leaders and inspirational designers leading the audience through a technological paradigm shift. The event took place on 28-29 November 2022 and explored exciting developments in VR, AR, and regulatory and legal movements. It delved into the future of e-commerce and gaming in the [Metaverse](/news/article/how-to-buy-land-in-metaverse-worlds) and decentralised commerce.

One of the event's primary focuses was gaming in the Metaverse. 

According to the presenters, wherever gaming goes, innovation follows. A lot of the original innovations in hardware and software were spurred by video games, and [Web3](/news/article/uquid-web3-integrates-with-polygon) is no different. When it is made entertaining and rewarding to engage with new technology, more users adopt it. The event discussed how blockchain empowered players and developers and some exciting models in the gaming world. The panel also discussed significant technological advancements in the gaming industry.

## Introduction to emerging technologies

The occasion introduced its attendees to the latest developments in emerging technologies. These technologies are rapidly gaining traction and are poised to be a major part of the future, like [Augmented Reality](/news/article/augmented-reality-tokens-explained) (AR) overlays digital elements in the real world, enhancing the users' experience. Extended Reality (XR) combines VR and AR, delivering a more immersive experience. The event also explored haptic feedback suits, which allow users to feel like they are in the game.

The Metaverse is an exciting development that aims to create a fully immersive virtual world. It is poised to be the next big thing in e-commerce, and the event delved into its future. It is a shared virtual space where users can interact together in a 3D world. It provides endless possibilities for businesses to engage with customers and deliver immersive experiences.

The occasion featured various presenters, including the Chief Medical Metaverse Officer of AIMEDIS, Professor Shafi Ahmed, Co-Founder of The Sandbox, Sebastien Borget, Director Of Business Development - EMEA of Niantic, Sarah Burslem, CEO of Singularity.net, Ben Goertzel, Sophia the AI, and Blockchain Product Marketing Manager of EX-SHOPIFY, Nicole Sandford. The occasion included various panels, including Web 3.0, the Metaverse, the Future of Gaming, and DeFi's Significance in Enabling Efficient Financial Transactions in the Metaverse.

## Conclusion

Enter the Metaverse London was an informative and exciting occasion that showcased the latest developments in emerging technologies. It left attendees with a deeper understanding of the possibilities and challenges of the digital world and the potential of emerging technologies to shape our future.


pink image of london and metaverse VR headset above

Enter the Metaverse London Explained 

Based in the UK, CEX is a cryptocurrency exchange platform with more than four million global users. The platform has a team of 250 people from multiple countries and operates under the Financial Conduct Authority's temporary registration scheme.

[CEX.IO](https://cex.io/) first shot up to fame by being one of the first fiat-to-crypto exchange platforms in the UK. Users that signed up on the platform could easily trade fiat currency like GBP or USD for the cryptocurrency of their choice via card payments and bank transfers. The platform is also a founding member of the CryptoUK, whose mission is to build cooperation between the UK's regulatory authorities and major cryptocurrency players.

## CEX exchange UK offering review

CEX is a significant leap for all looking to trade in crypto. This is because the platform allows users to buy, sell, and trade with more than 115 cryptocurrencies and in 225 trading pairs. It can be accessed via browsers and on both Apple and Android devices.

At the time of writing, CEX.IO has three products available for UK customers: CEX.IO, CEX.Broker, and CEX.Direct.

## Cryptocurrencies available on CEX.IO

Right now, CEX.IO allows users to trade with more than 200 digital currencies and tokens. CEX exchange UK users' most popular cryptocurrencies are:

•	[Bitcoin](/news/article/what-is-bitcoin) (BTC).

•	Litecoin (LTC).

•	[Ethereum](/news/article/ethereum-price-in-uk) (ETH).

•	Bitcoin Cash (BCH).

•	Cardano (ADA).

•	Cosmos (ATOM).

•	Tether (USDT).

•	Uniswap (UNI).

## Who can trade on CEX.IO?

CEX.IO caters to three different types of users that it calls everyone, businesses, and traders.

Everyone can go on the crypto exchange platform and use the instant feature to buy the crypto of their choice. CEX.IO takes the cake when it comes to payment methods, as it is flexible and allows users to pay via credit cards, debit cards, Apple Pay, Google Pay, and more. It also allows users to soft stake in 13 cryptocurrencies, letting them earn crypto and crypto-backed loans. This enables people to get fiat currency by offering their crypto as collateral.

For traders, the exchange provides spot and margin trading platforms and a mobile app, CEX.IO, which they can use for trading even while on the move.

The CEX exchange UK business offering allows firms to sign up via CEX.PRIME. CEX.PRIME lets institutional-sized buyers attain liquidity.

Businesses can also integrate cryptocurrency payments using CEX.DIRECT, a cryptocurrency payment gateway that works under CEX.IO.

## CEX.IO Fees 

CEX works on the maker-trader model, which means that all its transaction fees are based on the 30-day trade volume for all the coins users deal in. This is recalculated every day at 00:00 GMT.

CEX exchange UK fees for low volume and new users are a 0.25% makers fee and a 0.15% takers fee. As you become a more regular user trading in higher volumes, the fees are almost waived depending on the amount you spend.

## CEX.IO Security

Security is a strong focus for CEX.IO. The Financial Conduct Authority conducts the CEX exchange UK regulation. The platform is registered under FinCEN as a money service business in the US. The platform also has a Money Transmitter License (MTL) in 33 states.

## CEX.IO customer satisfaction

CEX exchange customers in the UK rated the platform as "excellent" on Trustpilot with a score of 4.7/5 calculated from more than 22,000 reviews. The platform leaves behind its most famous competitors, such as Coinbase and Kraken, regarding customer satisfaction. 

Moreover, the team at CEX.IO exchange is committed to increasing customer satisfaction even more as it responds to any negative or dissatisfactory customer reviews within 48 hours.

CEX.IO previously had mining services available to the public. That came to a halt due to profitability issues, which was met with many negative customer reviews. However, CEX.IO has rebuilt its reputation and works well as an exchange platform for new and experienced customers.

To conclude, for people looking for a smooth and low-fee cryptocurrency exchange platform, CEX exchange is the way to go.

With a user-friendly design and great customer satisfaction, CEX is undoubtedly the best in the UK.


blue iamge of CEX crypto exchange logo and exchange

CEX Exchange UK Offering Reviewed 

Binance, the world's largest cryptocurrency exchange, is set to suspend British pound sterling deposits and withdrawals for all users by 22 May, 2023. Binance GBP deposits and withdrawals for new users were halted on 13 March, 2023.

## What led to the Binance GBP suspension decision?

According to a Binance spokesperson, Paysafe, [the cryptocurrency exchange’s fiat partner](/news/article/kraken-crypto-exchange-plans-bank-launch) for GBP deposit and withdrawal services via debit/credit card and bank transfers, "will no longer be able to provide these services from 22 May, 2023".

As of Monday, these services have been suspended for new users.

That means new Binance users [CANNOT deposit and withdraw](/news/article/binance-suffers-1bn-outflows) in the fiat currency. How soon Binance will tie up with a new fiat partner for GBP deposit and withdrawal services is yet to be seen.

Given that there are still a couple of months until the suspension kicks in, it is likely that the centralised exchange (CEX) will announce a new partner by then. At the time of writing, Binance is exploring alternatives and insists that fewer than 1% of its user base will be [affected by this decision](/news/article/binance-linked-to-bitzlato).

It is worth noting that all “other methods of depositing and withdrawing other fiat currencies as well as buying and selling crypto” [on the cryptocurrency exchange](/news/article/bestchange-find-the-best-crypto-rates) remain “unaffected”.

That means existing users from the UK can avail themselves of GBP and all other fiat currency options until 22 May. If the crypto exchange does not find a solution to this dilemma, UK users will have to resort to other fiat currency options post-suspension.

If a Binance UK user wishes to convert their US dollar (USD), for example, to GBP, they can use services such as XE.com.
 
![binance.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/binance_f54589d340.png)

Source: [XE.com](https://www.xe.com/)

XE.com is an international money transfer service that is simple to use. With real-time exchange rates, low fees, and quick transfers to over 170 countries in more than 100 fiat currency options, you can trust the [service to convert any fiat currency](/news/article/dai-to-gbp) you withdraw on Binance to GBP.

To utilise the service, create an account with your email address, enter the recipient’s bank details, address, and payment information, double-check the entered details, obtain the expected delivery date, and send your money transfer! Of course, solutions like XE.com are a last resort.

The popular crypto exchange should be able to sort out the GBP situation soon.


red image of binance trading app and bitcoins on a table

Binance GBP Deposits and Withdrawals Suspended

PeckShield, a security company based in China, alerted British crypto lender Euler on [Twitter](https://twitter.com/peckshield/status/1635203838939652097?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1635218198042918918%7Ctwgr%5E2f837db4eb37d5b619c2b3b4b80aab66b93c455d%7Ctwcon%5Es3_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Feuler-finance-hacked-for-over-195m-in-a-flash-loan-attack) about a possible hack. It posted transaction details indicating that the hack resulted in a loss of $197 million.

PeckShield suggested that the hackers took advantage of a vulnerability in Euler's system. Euler acknowledged the situation and stated it was working with security experts and law enforcement. The lender also promised to provide more information as soon as it becomes available.

Crypto critic Molly White, who documents [hacks](/news/article/north-korea-hackers-stole-1.7b-crypto) and scams on her blog ‘[Web3 is Going Just Great’](https://web3isgoinggreat.com/), stated that the hack on Euler was the most significant this year. 

White ranked it as the eighth largest theft on the all-time list, although it pales compared to some of the crypto industry's most massive scams, reaching billions of dollars.

At the beginning of last year, the [crypto](/news/article/oxen-crypto-price-prediction) sector was on an upward trajectory, with the market for digital tokens and cryptocurrencies valued at hundreds of millions of dollars.

Crypto companies were aggressively marketing themselves through TV commercials, sports team sponsorships, and promoting their technology as revolutionary, as they aimed to attract new investors from the general public.

## Euler crypto falls victim to malicious hackers leveraging flash loans

According to a detailed analysis conducted by the blockchain security firm [Slowmist](https://twitter.com/SlowMist_Team/status/1635288972103667714?t=zUb040PYVunVm0p3pV1eGg&s=19), the recent attack on Euler crypto lender involved the use of flash loans by the attacker. The funds were deposited and leveraged twice to trigger [liquidation](/news/article/bitcoin-liquidations-spark-price-spike), after which the attacker sent the funds to the reserved address as well conducting a self-liquidation to collect any remaining assets.

The attack's success was attributed to two factors:

•	Funds were sent to the reserved address without undergoing a liquidity check, resulting in soft liquidation.

•	The soft liquidation logic was activated by the high leverage, which allowed the liquidator to transfer only a fraction of the liabilities to themselves while obtaining most of the collateral funds from the liquidated user's account.

Gustavo Gonzalez, a solutions developer at the blockchain security firm OpenZeppelin, informed [Cointelegraph](https://cointelegraph.com/news/euler-finance-hacked-for-over-195m-in-a-flash-loan-attack) that the entire incident occurred in a single transaction per pool, utilizing flash loans from AAVE.


Euler Crypto Lender Suffers $200m Hack 

Giant banking firm HSBC Holdings Plc (HSBA) is planning to buy Silicon Valley Bank's British unit. According to the [filing](https://www.londonstockexchange.com/news-article/HSBA/hsbc-acquires-silicon-valley-bank-uk/15871682) released on 13 March, 2023, HSBC will acquire the firm for £1.

SVB UK collapsed, reeling from severe losses. The finance company had total debts of around £5.5 billion and had deposits of more than £6.7 billion until 10 March.

## UK Government facilitated the Silicon Valley Bank sale

On Monday, the Bank of England also released an [official statement](https://twitter.com/bankofengland?s=20) regarding the matter. As per the statement, a number of other UK authorities were also involved. These included HM Treasury, the Prudential Regulation Authority, and the Financial Conduct Authority.
  
HSBC itself is regulated by the [FCA](/news/article/fca-crypto-regulation) and PRA, a fact which is likely help SVB UK recover from the losses. The statement issued by the Bank of England said that the step was taken to strengthen and stabilise the banking system of the United Kingdom. 

The central bank statement added that the move would ensure the continuity of banking services, minimise disruption to the country's tech sector, and support.

The Bank of England also guaranteed that all depositors' funds with the collapsed bank would be secured after its sale to HSBC.

## PM Rishi Sunak on the decline of SVB

The Bank of England released the official statement detailing plans for the sale of SVB UK just after [Britain's Prime Minister Rishi Sunak](/news/article/rishi-sunak-crypto-believer-uk-pm) assured the nation about the "sound" financial system of the country.

In talks with the media regarding the US bank's subsidiary's downfall, the Prime Minister said, "There's nothing to worry about."

He went on to add further reassurance that the country's financial health is "resilient" and would not be affected by the decline of SVB. The PM is currently in San Diego, where he will likely meet President Joe Biden.


silicon valley bank branch with red filter and money falling

Silicon Valley Bank UK to Be Bought by HSBC 

[Duelbits](https://duelbits.com/) UK website is an online gaming and gambling platform offering users in the United Kingdom a diverse range of games using CSGO money or skins.

![duelbits.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/duelbits_4c70ccc91b.png)
 
The site has been designed to appeal to a broad range of players, attracting more and more people to the platform. The operators of Duelbits have integrated casino gaming and CSGO [gambling](/news/article/betfury-crypto-dapp) games, including a live casino section where real-life dealers play alongside the players.

## User-friendly interface and payment methods

The Duelbits UK platform has been developed with a simplistic design and easy navigation, ensuring users can use the site efficiently and maximize their gaming experience. The user interface of Duelbits has a clear layout, making it easier for users to browse the available games and choose their preferred options.

Furthermore, the platform offers standard payment methods such as PayPal and credit cards. Players can use these methods to deposit money into their CSGO gambling account. Signing up for Duelbits and using cryptocurrency payment options is quick and straightforward without undergoing KYC verification.

## Games and community chat

The Duelbits UK website's homepage showcases various live games, such as dice and roulette, that allow users to participate in [crypto](/news/article/crypto-events-to-attend-uk) sports betting. The top menu provides access to all the essential features of the platform, such as customer service, a provably fair system, and bonuses offered.

In addition to this, there is a community chat box that displays the number of online users. The website's modern design features a simple layout, allowing users to stay engaged and entertained for extended periods. The platform lets players view previous wins and gives the community a transparent and privileged gambling experience.

## Is it legit or a scam?

Duelbits is a legitimate online [casino](/news/article/review-rollbit-exchange) that offers a fair gaming experience to its players. The casino operates on a provably fair system that allows players to transparently verify the randomness and fairness of a game's results, which ensures that Duelbits' operators cannot rig the games.

The Duelbits UK platform stands out from the crowd as it has earned a great reputation in the online casino industry for not being associated with malicious activities.

It provides instant deposits and withdrawals to its players, another significant aspect proving the site's legitimacy. Duelbits processes withdrawals and deposits instantly, never blocking client funds, which allows players to withdraw lump sums of money immediately. Therefore, Duelbits is a trusted and legitimate crypto casino that players can enjoy without any concerns about being scammed.


Duelbits UK Review 

UK-based payment processor specializing in linking crypto firms to the banking world, BCB Group, is ramping up its dollar-to-crypto capabilities following Silvergate Exchange Network (SEN) shutting down. The firm hopes to have the [fiat-to-crypto system](/news/article/crypto-banks-access) ready to roll early in the second quarter.

Speaking during a [media interview](https://www.coindesk.com/business/2023/03/06/crypto-banking-firm-bcb-readies-us-dollar-payments-to-plug-silvergate-gap/), the group's CEO, Oliver von Landsberg-Sadie, stated that the BCB Liquidity Interchange Network Consortium (BLINC) is a dollar component that has been in the pipeline for the last year and which will launch soon. He said the move is meant to plug the hole left by the departure of SEN, besides providing continuity to BCB and Silvergate clients. 

## BCB has a payment license from UK financial regulator

Launched in Mid-2020, BLINC facilitates a real-time settlement system for fiat currencies like the Euro, British Pound, and the Swiss Franc, similar to what Silvergate did for US-based crypto clients transacting in dollars. The firm provides fiat-to-crypto solutions to Europe's leading institutional players, including Galaxy Digital, Bitstamp, Kraken, and Gemini. London-based BCB has a payment license from the Financial Conduct Authority (FCA), the UK's regulator.

According to Landsberg-Sadie, unlike SEN, BLINC is multicurrency and not tied to a particular credit institution. It's purposely designed as a payment institution that provides onramps to numerous banks in the UK, Switzerland, and several other European countries.

Considering Silvergate's waterloo was when the firm allowed long-term Bitcoin bets against short-term cash deposits, a titanic feat during 2022's crazy markets, Landsberg-Sadie said the group's funds are 1:1, no leverage, no pledge, and always fully protected with safeguarded funds.

## An alternative to the Silvergate and Signature Bank networks

The firm’s move will help widen the space for crypto companies struggling to integrate with traditional banking systems by including USD capabilities.

The groups’ entry and launch of BLINC will offer an alternative to the Silvergate and New York-based Signature Bank's networks. BLINC introduces a decentralized model that provides excellent stability and security to clients, giving it great potential within the crypto payments space. Signature's Signet is currently the following largest network for USD instant settlement.

Crypto companies that hoped to revitalize traditional banking by integrating cryptocurrency have always been skating on thin ice. Consequently, the accompanying [crashes such as FTX](/news/article/is-crypto-dead) and scandals that sparked a cacophony of responses from US-based regulators are almost suffocating the nascent crypto-banking startups.


BCB Group Acts to Close Silvergate Gap

The global non-fungible token (NFT) market was on its way to surpassing [$50 billion](https://www.cryptoslam.io/nftglobal) in February 2023. With the profits available, it is no wonder people query the UK stance on NFT income tax.

The market is dominated by the Ethereum blockchain, which houses popular [NFT](/news/article/pixelmon-nft-everything-to-know) collections such as the [Bored Ape Yacht Club](/news/article/bored-ape-nft) (BAYC), Mutant Ape Yacht Club (MAYC), Otherside for Otherdeeds, CryptoPunks, Art Blocks, Azuki, Moonbirds, and CloneX. 

The other projects in the top ten, NBA Top Shot and Axie Infinity, are deployed on Flow and Ronin blockchains, respectively. With CryptoPunks #5822 selling for $23.8 million, CryptoPunks #4156 exchanging hands for $10.2 million, CryptoPunks #5577 being taken off the market for $7.7 million, and Ringers #109 also selling for $6.9 million, it is only right that authorities have set their sights on how NFTs should be taxed due to the enormous gains made by traders.

With several multiple percentage profits to be made in a short period, it is also understandable to find NFT tax UK rules being queried.

But before we zoom into NFT tax UK, let us examine how [NFTs](/news/article/shopify-nft-merchants-get-more-tools) are bought and sold on marketplaces so that you are enlightened from the buying and selling stage to the taxing phase.

## How to buy and sell NFTs

NFTs are digital art representing sneakers, sports cards, and real estate, among others. If you want to buy a piece by Leonardo Da Vinci or a Pablo Picasso painting, you have to find an art store or gallery. If you want NFTs, you have to locate a marketplace. There are many NFT marketplaces around today, including Nifty Gateway, X2Y2, LooksRare, Known Origin, Blur, Rarible, SuperRare, Foundation, and OpenSea.

OpenSea remains the largest NFT marketplace by all-time volume. Despite a decrease in industry-wide interest in digital collectibles, OpenSea still saw more than [$270 million](https://www.theblock.co/data/nft-non-fungible-tokens/marketplaces/nft-marketplace-monthly-volume) in volume in January 2023. As a result, we would like to focus our short guide on how to buy NFTs on OpenSea. 

You need to have a crypto wallet that has Ether (ETH), the novel token of Ethereum. Popular wallets that support Ethereum include Rainbow, Trust Wallet, and MetaMask.

With a wallet filled with ETH coins, you can create an account on OpenSea, connect your wallet, search for the NFT project of your choice, and make a purchase. Once the purchase is complete, the NFT will be sent to your wallet.

If you want to sell your [NFT],(/news/article/loaded-lions-nft-explained) you make it available on OpenSea and set a quote. Once a buyer bids for your NFT and you accept, the sale is completed.

Since you hold the private keys to your wallet, you are responsible for protecting the digital collectibles from cybercriminals and malicious programs.

Now that you know how to buy and sell NFTs, let us examine how they are taxed by authorities in the United Kingdom. 

## What are the NFT tax UK rules? 

His Majesty’s Revenue and Customs (HMRC) is responsible for the taxation of NFTs. Capital gains and income tax are two principal taxation types to take note of as a UK resident. 

Capital gains are profits earned from the sale of an asset that has spiked in value over a given period. A great example of this can be attributed to buying a Bored Ape for £10,000 and selling the NFT for £95,000. The difference, which represents the profit, is £85,000 (capital gains). 

According to [GOV.UK](https://www.gov.uk/guidance/capital-gains-tax-rates-and-allowances#:~:text=Capital%20Gains%20Tax%20is%20charged%20at%20a%20flat%20rate%20of%2018%25.), it is the gains made that are subject to tax, not the entire money from the sale. Therefore, £85,000 will be taxed, and not £95,000.

According to the HMRC, disposing of NFTs includes selling them, gifting them to loved ones, swapping them for other NFTs or digital currencies, and getting some compensation for them (such as an insurance payout when something is destroyed or lost).

As of February 2023, capital gains tax (CGT) is between 10% and 20%. From the example given, the owner of the sold NFTs would pay 20% CGT because it is above £50,270. If capital gains from the sale of a digital collectible are below £50,270, you are subject to 10% in CGT.

Income tax is paid on earnigns by UK residents. There are professional traders out there who trade stocks, cryptocurrencies, and now NFTs for a living.

If you make less than £12,570 from NFT sales, you will pay 0% in income tax. But if you earn above that and it rises to £50,270, you'd pay 20% in income taxes. 

For those earning £50,270 up to £150,000, tax is charged at 40%. NFT traders that make more than £150,000 are subject to 45% in income taxes. 

## NFT tax UK conclusion

Monthly global NFT market sales are currently on a rebound. Knowing the percentages in taxes will be invaluable to your decision on whether to get involved in NFT trading and investing.


NFT Tax UK Rules Explored

10bet has fought competitors over the years and has become a leading betting platform for many punters in the [United Kingdom](/news/article/crypto-regulation-uk).
11. 
Founded in 2003, it is a pioneer betting platform that became one of the fastest-growing online bookmakers in the UK.

Here, we look at what the betting company is, how to place a bet with it, the number of payment options supported, the type of markets it supports, and other features embedded into its system. 

## What is 10bet? 

As an online gambling company, 10bet offers casino, live casino, and sports betting services to gamblers.

Despite the stiff competition in the [UK](/news/article/uk-crypto-regulation) from other gambling companies such as Bet365, William Hill, Ladbrokes Coral, Betfair, Paddy Power, Betway, 888sport, and 32Red, among others, it uses promotions and offers to bring in new customers and maintain existing ones.

To entice new customers to the platform, the betting company has set a registration offer that enables punters to earn up to £25 in bonuses. Being eligible for this type of bonus relies on the amount of money you first deposit with the betting outlet. 

Aside from this, there are promotional offers that can see bettors earn up to 50% of their deposits up to a maximum of £50. To be eligible for a £50 bonus, you must fork out a minimum deposit of £100.

Although gambling has taken over the world of sports and become a part of our daily lives, not all financial institutions have thrown their backing behind betting. This begs the question, what types of payment methods are supported by 10bet? 

## Types of payment methods on 10bet

Many UK gamblers have become accustomed to using electronic wallets such as [PayPal](/news/article/paypal-crypto-reserves-$604-million), PaySafe Group's Skrill, and Neteller, as well as Apple Pay, EcoPayz, and Trustly, for their online gambling activities.

If you are interested in 10bet, you should note that the company accepts PayPal and bank cards (debit cards).

Unfortunately, popular e-wallets Skrill and Neteller are not supported. PayPal and debit card transactions are processed instantly and credited to punters' accounts within a few seconds. 

## What betting markets are on 10bet? 

There is a range of sports betting markets for wagers interested in holding an account with the gambling company.

For punters in the UK and the rest of the world except the US, [football](/news/article/cronos-crypto-falls-flat-world-cup) is the primary focus due to the success of the English Premier League (EPL) in the UK and abroad.

Aside from the Premier League, other international leagues such as the Spanish La Liga, Italian Serie A, French League One, and German Bundesliga are among a host of other European leagues and major football tournaments available on the platform.

For football, some of the most popular markets patronized by bettors include, but are not limited to, match results, anytime scorers, over/under goal markets, and both teams to score.

In addition to football, the platform supports wagering on motor racing, snooker, pool, handball, rugby league, ice hockey, baseball, golf, darts, cricket, boxing, National Football League (popularly known as American Football), greyhounds, basketball, and horse racing.

In addition, 10bet supports in-play betting and has a cash-out feature embedded in its platform.

In-play betting is where a  gambler places bets on ongoing live games. The cash-out feature allows bettors satisfied with the amount of money added to their initial wagering amounts to take off with the accumulated sum before the bet is settled.

With a thorough understanding of the types of payment methods and markets on the platform, you should know how to place a bet on the company’s website and mobile application. 

## How do I place a bet with 10bet? 

You cannot use social media applications without signing up for an account with them. The same holds for registering with gambling websites across the globe. To set up an account, you must be 18 years and above.

Firstly, you must locate 10bet by clicking [here](https://www.10bet.co.uk/). On the dashboard of the website, navigate to JOIN NOW, which can be found at the top right-hand corner of its online address.

Secondly, provide authentic details of yourself. In the space provided, you must provide your full legal name, verifiable email address, phone number, and home address. Much emphasis has been placed on legality and authenticity because, like all gambling companies, it will pass you through a verification process called Know Your Customer (KYC).

Thirdly, you must provide legal documents to confirm your identity. In compliance with rules and regulations, the company vets new bettors. As a result, you will need to upload an identification card such as a passport, a national ID card, or a driver's license. In addition, demands will be made for a bank statement, internet, or utility bill not more than six months old to help verify your home address. This will also help the company find consistency in the address linked to the PayPal account or debit cards used as payment methods.

Fourthly, make a deposit using the aforementioned payment methods. 
Lastly, navigate the sports betting markets, place a bet on your preferred market, and wait for the bets to settle. 

## Does the company have an app? 

Yes, 10bet comes with a mobile application, making it one of the best and fastest places to gamble. The application can be found and downloaded on the Google Play Store and Apple Stores.

As a highly accessible platform, it also doubles up as a user-friendly app that simplifies betting for even the most novice of all punters. 

## Conclusion 

10bet is among the best betting sites for new and existing bettors in the UK.

While competition will always be tough due to the potential profits that could be made within a short period, the company has lined up promotions and bonuses to keep it active in the market.

This explains why it has more than 1 million active users and is present in over 100 countries.


Is 10bet Among the Best Betting Platforms? 

UK authorities have [carried out raids](https://www.fca.org.uk/news/press-releases/fca-takes-action-against-unregistered-crypto-atm-operators-leeds#:~:text=No%20UK%20firms%20or%20individuals,down%20or%20face%20enforcement%20action.) on multiple sites in and around Leeds, targeting illegally operated crypto ATMs.

The operation aimed to gather evidence of machines suspected of facilitating buying or converting traditional currencies into digital coins, such as Bitcoin. These machines were found in various locations around the city, and authorities have taken action to shut down their operations.

## FCA investigated illegal crypto ATM UK operations

The [UK's FCA](/news/article/uk-fca-explains-low-crypto-approval) is taking action to enforce its prior announcement that any [crypto ATMs](/news/article/crypto-atm-bitcoin-business) operating within the country without proper authorisation are doing so illegally.

The financial regulatory body has partnered with the West Yorkshire police to combat the illegal operation of cryptocurrency ATMs in Leeds, a city in northern England. The West Yorkshire police's cyber team has identified "several live crypto ATMs", although they did not disclose the exact number or location of these machines.

According to Coin ATM Radar data, there are currently 27 [Bitcoin](/news/article/visa-bitcoin-debit-card-review) ATMs installed across the UK. This operation marks the country's first crackdown on illegally operated crypto ATMs, highlighting the FCA's commitment to upholding regulatory compliance in the burgeoning cryptocurrency market.

According to Detective Sergeant Lindsey Brants of West Yorkshire police, warning letters were issued to the illegal operators instructing them to cease their operations. The letters also clarified that any violation of regulations would lead to an investigation under money-laundering regulations.

## Cryptocurrency companies need to be registered under FCA

According to the FCA, all companies that offer cryptocurrency-related services in the UK must be registered with them to comply with anti-money laundering and counter-terrorist financing regulations.

The FCA has cautioned explicitly that none of the registered crypto asset businesses has the authorisation to provide ATM services. As a result, any UK crypto ATMs currently operating are considered to be doing so illegally.


red image of bitcoin atm and policeman in uk

UK Crypto ATM Raided by Financial Regulator 

Even with the entire crypto world operating like [headless chickens](/news/article/cryptocurrencies-prices-plummet), some great steps are still being taken to resuscitate the industry. Activities like NFT meetups, seminars, and networking events can play a huge part in reviving the industry's image. We'll be going over some of the most exciting NFT events London offers in this piece.

## Networkverse: Open-mic and networking

The first event to keep a lookout for is [Networkverse](https://www.eventbrite.com/e/networkverse-nft-web3-metaverse-tam-open-mic-and-networking-tickets-516521047357?aff=ebdssbdestsearch&keep_tld=1), presented by Zee West. It will take place at the Temple of Art and Music in Farringdon. The event will be held on the 16 February and will be one of the first major NFT events in London in the month of February.

The idea of the event is to present a space where individuals interested in the crypto field can get more information and listen to experienced professionals from different facets of the industry. Various panellists will be at the event, ranging from Web3 experts to blockchain developers.
The event will provide attendees with an excellent opportunity to speak with high-influence individuals and expand their network.

## Web3 and NFT meetup at the Arcade Apes bar

This one is hosted by [Web3 Events](https://www.eventbrite.co.uk/o/web3-events-57908379873), and it’s another intriguing [event](https://www.eventbrite.com/e/calling-all-web3-and-nft-enthusiasts-in-the-uk-tickets-481334082197?aff=ebdssbdestsearch&keep_tld=1) to consider attending if you're a crypto enthusiast. Happening on 18 February, you can head to the world's first Bored Ape Yacht Club bar, [Arcade Apes](https://arcadeapes.com/web3/), to participate. It seems like the perfect venue to host an NFT-related discussion and networking event.

There's one factor in this event that differentiates it from most other NFT events London offers, or elsewhere, it promotes participation of women and promises a 50-50 male-to-female cutoff at the event.

As for the itinerary, there will be a panel of speakers discussing the future of Web3 and how the industry can move forward productively. There will also be a Q&A if anyone has particular queries regarding any crypto-related topic.

To make networking easier, there will also be a bunch of fun board games to break the ice with. Locating the event won’t be too difficult, as the bar can be found on Google, and it's situated right next to the famous Buckingham Palace.

## Blockchain/Metaverse/NFT meet up at the Tower Suites

NFT events in London are one thing, but networking events where you can get a panoramic view of the entire city – now that’s a totally different experience. If you want to experience and take part in this fun event, head to the Tower Suites in London on 18 February. The event is organized by Stratis, a blockchain solution company founded in 2016.

Stratis has an entire blockchain architecture built on top of Bitcoin. It provides developers with a platform on which to build their blockchain-based apps and games.
The event will serve as an opportunity for like-minded individuals to come along and discuss the field of crypto and NFTs, networking their way to potential partnerships and deals. You can even head to the Skyline Bar to grab a few drinks, giving you a relaxed, comforting state of mind so you can go about your business without any worries.

## NFT evening at a ‘private members club’

The Luxe Club is hosting this [next event](https://www.eventbrite.com/e/crypto-nft-and-web3-networking-evening-at-a-private-members-club-in-london-tickets-523459781297?aff=ebdssbdestsearch&keep_tld=1) on our list, as it will take place on 20 February in Mayfair, London. If you're looking for high-profile NFT events in London, look no further than The Luxe Club, as it hosts monthly Crypto/NFT evenings for members to get together and discuss the industry's happenings.

This is also the only event on our list that requires an entrance fee for participation – all the others are free. The main reason behind the fee is probably the nature of the event itself, as you can expect a proper reception, a formal dinner, and private tables. Since the event is at a 'private members club', there ought to be a fee to ensure the experience is kept top-notch by the organisers.

If you're looking to attend the fanciest NFT events London offers, where you can get expensive drinks and a fine-dining experience, sign up for a cool £35 fee.

## Final thoughts

Although these aren't the only NFT events London will witness in February, they are some of the more exciting ones to look forward to. If you would like to join an entire crypto-related club and meet regularly with other members, we'd recommend going for the event presented by The Luxe Club – the last option on our list. It will not only help you expand your network, but also provide you with a luxury experience while at it!

However, for strictly business purposes and to speak with high-value individuals regarding potential deals and cooperation, you should go for the other events on the list.

Firstly, you won't have to pay an entrance fee. Secondly, you will be able to hear from industry-leading panellists regarding their experiences with crypto. Ideally, the goal is to learn, expand your professional circle, and grow!


Exciting NFT Events London Offers this Month 

Wallet Whale is a [UK-based membership programme](/news/article/best-crypto-rewards-card-uk) that enables you to enjoy deals and discounts across retail, dining, holiday travel, Flava grocery shopping, health and fitness products, and home and garden essentials. This article explores what you need to know about the membership service.

![wallet.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/wallet_f583f12ded.png)

 Source: [Wallet Whale](https://walletwhale.co.uk/)

## Benefits of a Wallet Whale card

Listed are the benefits of becoming a Wallet Whale member:

•	Get the mobile phone you want with a guaranteed contract via one of their partners [WITHOUT a credit check](/news/article/what-is-decredit). Additionally, as a member, you can enjoy extra data, texts, and minutes. It should be noted that the mobile contract partner (such as Vodafone) will require you to conduct several weekly payments to prove your capability to pay on a contract before they ship your desired mobile phone.

•	Enjoy discounted retail in more than 6,500 British high street locations, across 300-plus retail stores and eateries. Carry your card when you go out dining.

•	Easily upgrade your holiday travel experience via the membership portal. This includes upgrading your accommodation and travel insurance benefits, among other possibilities.

•	Take advantage of exclusive Flava supermarket deals with a free premium Flava Benefits Pro account. This includes a lifetime of free shipping and spreading the cost of your grocery shopping. 

Flava is the only UK supermarket that offers these features without interest.

•	Access to a range of health and beauty products is available.

•	Reap the benefits of discounted home and garden essentials shopping.

•	Other benefits include online shopping deals and special motoring deals.

## How to become a member

To enrol on the programme, you must pay a one-time sign-up fee of £39.99 and a recurring monthly fee of £24.99. According to the website, payments will appear as "WalletWhale03707704660" on your billing statement.

![whale.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/whale_b8494c4cae.png)
  
Source: [Wallet Whale](https://walletwhale.co.uk/)

Fill out a form that requires you to enter your title (Mr, Mrs, Miss, or Ms), first and last names, email address, mobile number (optional), and date of birth. Please read the privacy policy and terms and conditions before clicking on the Next button.

If you have any queries, you can reach out to customer support via phone or email:

Phone number: 03707704660

Email address: customerservices@walletwhale.co.uk

Visit the [website](https://walletwhale.co.uk/) for more details and the FAQ section in particular.


blue image of man getting angry at his wallet whale

Wallet Whale Membership Explained

[FinTech](https://en.wikipedia.org/wiki/Fintech) companies are making waves in the UK, especially with the growing popularity of blockchain tech, such as NFTs and cryptocurrency.

FinTech has entered popular parlance in recent years. An amalgamation of financial and technology, it refers to companies using technology to compete with traditional financial (TradFi) methods in delivering financial services.

Four main components make up the FinTech world:

•	Artificial intelligence.

•	Blockchain.

•	Cloud computing.

•	Big data

These components, often referred to as the ABCD, form the backbone of the industry.

Technological developments are constantly pushing the boundaries of FinTech in a never-ending move toward more financial inclusion. 

The evolution of smartphones and their applications has seen a surge in the popularity and use of mobile banking, investing, lending, and various cryptocurrency services as the general population take more control over their financial future.

The industry consists of start-ups, traditional financial institutions, and technology companies, often all working together to enhance the customer experience and encourage financial intelligence.

## FinTech companies UK

Investment in global FinTech has risen by more than 12,000% from $930 million in 2008 to over $121.6 billion today. Forecasters predict that by 2030 the global FinTech market is expected to reach $949 billion at an average growth rate of 17.2% per year.

FinTech companies UK represent the country's strongest start-up sector, consisting of more than 1,400 'high growth companies' and 20 unicorns (firms worth more than $1 billion). The industry attracts more venture capital than any other business raising some £21.9 billion so far, of which £7.4 billion came in the bumper year of 2021. 

With a total market valuation of just over £11 billion, FinTech in the UK is big business.

As you might expect, 96% of all UK FinTech firms are based in London. Around 9% of companies were founded by a female boss.
As of July 2022, the [three top FinTech companies in the UK](https://www.beauhurst.com/blog/fintech-startup-companies/) were:

•	Checkout.com.

•	Revolut.

•	Monzo

Checkout.com was founded in 2012 and raised £1.36 billion through four equity rounds. Its core business is payment processing software development allowing businesses to pay in more than 150 currencies. Its innovative platform combines several separate payment technologies and covers every stage of the process. With on ramps including Visa, Mastercard, and American Express, it is easy to see why it is the UK's largest FinTech company.

Following closely behind is the well-known brand Revolut, which services more than 18 million customers worldwide with financial services and digital banking through its popular mobile application. 

Since launching in 2013, Revolut has raised some £1.27 billion in equity. In December 2021, the company was awarded a full banking licence from the European Central Bank, making Revolut one of the best well-known FinTech brands on the market today.

In third place is challenger bank Monzo, which is fully regulated by the FCA and PRA in the UK. Founded in 2015 and based in the City of London, Monzo help more than 6 million customers manage their financial well-being through its digital banking platform. Monzo is free to use, but with the Premium option (£15 per month), customers are eligible for free phone and travel insurance.

## FinTech companies UK conclusion

Despite a global market slowdown in 2022, UK FinTech investment reached some $12.5 billion last year. It is easy to see why FinTech is held in such high regard in the UK.

Indeed, with over 2500 FinTech companies based in the country, the UK ranks as the [third largest FinTech hub in the world](https://www.londonstockexchange.com/uk-fintech-ecosystem).

Furthermore, around £3.6 trillion of foreign exchange trades are processed in London daily. This is more than the next four largest markets combined. When you add the fact that some 90,000 finance and insurance firms are based in the UK, it is obvious why the country remains top of the international finance industry.

According to a recent report by Deloitte, the UK FinTech industry is dominated by WealthTech and Payments. However, there are considered to be some 23 subsegments of the national ecosystem, making for an extremely varied and versatile industry.

As we can see from the examples above, growth in the space continues to be driven by high levels of investment, reaching some $11.6 billion in 2021, second only to the USA and counting for half of all European FinTech investments. As more and more people embrace the move away from traditional banking, the FinTech industry is predicted to double in value by 2030. If, as many expect, this forecast continues to materialise for FinTech companies UK, there has never been a more opportune time to be involved in this exciting industry.


blue image of two women working on computers in tech company

FinTech Companies in the UK 2023

In the wake of the fall of FTX, the government of the UK has planned major reforms in cryptocurrency regulation.

It plans to bring digital assets under mainstream financial laws. However, it has backtracked from the resolve of treating cryptocurrencies as stocks, insurance products, and shares.

On 31 January, the Treasury announced that it would publish several proposals to align traditional finance regulations with the crypto industry.

## Key changes in cryptocurrency regulation UK

The Treasury anticipates the security of the funds of crypto users. The regulatory proposals will likely assure customers of financial security even if the crypto firm experiences insolvency. 

Moreover, it would establish robust rules for token promotion to eliminate misleading information. 

On the other hand, the Treasury will ensure that the crypto firms strictly follow the new regulations. It will help remove bad actors from the industry from running scams like [pump and dump schemes](/news/article/how-to-spot-a-pump-and-dump). Regulators will also focus on data reporting to bring more clarity and better regularisation. 

The ministry believes that these changes will likely protect investors' rights. These reforms may also minimise the risk of potential scams.

## The need for regulations after the FTX fall

2022 was a testing year for cryptocurrency investors. The year's highlights were the [Terra-Luna debacle](/news/article/terra-luna-collapse) and the [bankruptcy of Celsius](/news/article/celsius-bankruptcy-judge-order) and other lenders. However, one event which really rattled the market was the collapse of Sam Bankman-Fried’s exchange, and many began to question, “[Is crypto dead after the FTX collapse?](/news/article/is-crypto-dead)". This crash restricted many investors from accessing their funds. Now, cryptocurrency regulation has become inevitable. 

The UK will be one of the first countries to amend its digital asset laws. According to a [BBC report](https://www.bbc.com/news/technology-64468617), Harriet Baldwin MP says that the crypto market is a wild west.

However, the market also sees many technological innovations, which may help the country's economy. Therefore, the Treasury plans to reform cryptocurrency regulation UK laws to ensure security for investors.

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