Ripple has taken a formal step into the regulated UK crypto market after securing approval from the country’s financial watchdog.

The development places Ripple among a limited group of digital asset firms that have met the UK’s compliance standards, at a time when regulators are tightening supervision of the sector.

The move reflects how crypto companies are increasingly navigating jurisdiction-by-jurisdiction rules to maintain access to key financial centres.

For the UK, it also underscores efforts to bring crypto activity within an established regulatory perimeter rather than leaving it to operate on the margins.

FCA registration status

Ripple’s UK subsidiary, Ripple Markets UK Ltd., has been registered with the Financial Conduct Authority under the country’s money laundering regulations.

The update appeared on the FCA’s official register on Friday, confirming that the entity has satisfied the regulator’s requirements related to financial crime controls.

Registration under these rules signals that Ripple complies with UK standards on anti-money laundering and counter-terrorist financing.

Firms listed on the register are required to monitor transactions, carry out customer due diligence, and report suspicious activity.

For crypto businesses, this registration is a legal requirement to operate certain services in the UK.

Scope of the approval

While the registration allows Ripple to carry out specific crypto-related activities, it does not amount to full financial services authorisation.

The FCA’s approval is limited in scope and does not permit activities such as offering regulated investment products or providing broader banking services.

This distinction is central to the UK’s regulatory framework for digital assets.

Crypto firms can gain entry to the market by meeting baseline compliance requirements, but further permissions are needed as business models expand into more heavily regulated areas.

Ripple’s status reflects compliance with financial crime rules rather than a comprehensive licence.

UK regulatory direction

Ripple’s approval comes as the UK seeks to position itself as a global hub for digital assets while strengthening oversight.

Policymakers have been working to integrate crypto firms into existing regulatory structures, focusing first on areas such as money laundering and terrorist financing risks.

The FCA has adopted a selective approach to crypto registrations, with many applicants failing to meet its standards in previous years.

Against this background, inclusion on the register indicates that Ripple has cleared a relatively high compliance bar.

The process also highlights the regulator’s emphasis on governance and controls rather than rapid market expansion.

The post UK’s FCA grants regulatory approval to Ripple appeared first on CoinJournal.

UK’s FCA grants regulatory approval to Ripple

Source: https://coinjournal.net/news/uks-fca-grants-regulatory-approval-to-ripple/

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Bybit is preparing to gradually scale back services for users based in Japan from 2026, marking a further shift in how global crypto exchanges navigate one of the world’s most tightly regulated digital asset markets.

The move follows months of regulatory pressure and earlier steps taken by the exchange to reduce its footprint in the country.

Bybit said the process will involve rolling account restrictions applied over time, rather than an immediate shutdown, as it aligns with Japan’s regulatory framework.

The development comes even as the exchange expands in other jurisdictions, underlining the uneven global regulatory landscape for crypto platforms.

Japan’s regulatory pressure

The phased restrictions will apply to users identified as Japanese residents, with Bybit implementing the measures on a rolling basis.

Users who believe they have been incorrectly classified have been asked to complete additional identity verification checks to resolve their status.

Bybit is not registered with the Financial Services Agency, which requires crypto exchanges serving Japanese residents to obtain local approval before offering services.

Japan’s regulatory regime has long been regarded as one of the strictest globally, shaped by past exchange failures and consumer protection concerns.

This framework has limited the ability of overseas platforms to operate freely in the country without a local licence.

Bybit’s decision to begin a structured withdrawal from 2026 reflects the growing difficulty for unregistered foreign exchanges to maintain access to Japanese users.

Earlier restrictions in Japan

The latest announcement builds on earlier actions taken by Bybit to curb its exposure to the Japanese market.

In October, the exchange halted new user registrations in Japan, citing ongoing discussions with regulators.

That decision signalled that continued full operations without registration were becoming increasingly unsustainable.

Regulatory scrutiny intensified in February, when Japan’s Financial Services Agency requested that app stores run by Apple and Google suspend downloads of five unregistered cryptocurrency exchanges.

Alongside Bybit, the list included MEXC Global, LBank Exchange, KuCoin, and Bitget. The move reinforced Japan’s stance that access to local users must be tightly controlled.

Industry figures have warned that this regulatory bottleneck is driving innovation elsewhere.

In July, Maksym Sakharov, co-founder and CEO of WeFi, said Japan’s strict oversight was pushing crypto development out of the country, as companies look for more flexible jurisdictions.

Despite the Japan pullback, Bybit remains one of the most active exchanges globally.

Rather than exiting heavily regulated markets altogether, Bybit has increasingly adopted jurisdiction-specific strategies, limiting certain services while expanding in regions with clearer or more accommodating frameworks.

Expansion beyond Japan

While scaling down in Japan, Bybit is simultaneously rebuilding its presence in other markets.

The exchange is reentering the UK after a two-year pause, launching a platform that offers spot trading and peer-to-peer services.

The UK return is structured through a promotions arrangement approved by Archax, rather than through direct UK registration.

Bybit has also strengthened its position in the Middle East.

Last month, it secured a Virtual Asset Platform Operator Licence from the United Arab Emirates’ Securities and Commodities Authority, eight months after receiving in-principle approval.

The licence allows the exchange to expand services in a region that has actively positioned itself as a hub for digital asset firms.

The post Bybit to gradually scale back Japan services from 2026 due to tight crypto regulations appeared first on CoinJournal.

Bybit to gradually scale back Japan services from 2026 due to tight crypto regulations

Source: https://coinjournal.net/news/bybit-to-gradually-scale-back-japan-services-from-2026-due-to-tight-crypto-regulations/

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, says it has restarted services in the UK, nearly two years after tougher rules on the promotion and marketing of crypto products pushed firms to pull back.

The company, which says it has around 80 million users globally, relaunched UK access on Thursday with a set of products that includes spot trading across 100 currency pairs, reports CoinDesk.

The move comes as the Financial Conduct Authority continues to scrutinise how crypto services are advertised to British residents, while the UK government has signalled it wants a fuller crypto rulebook in place by 2027.

Why Bybit left and what changed

The FCA tightened its financial promotion regime for crypto advertising in October 2023, triggering a wave of operational changes across the industry and prompting several firms to end UK activity.

According to CoinDesk, Bybit said its return is built around meeting FCA financial promotion standards, with an emphasis on clearer communications and transparency for UK users.

The company is not licensed in the UK, but says it is operating within a framework designed to comply with the FCA’s requirements for promotions.

That framework matters because, under the rules, crypto marketing aimed at UK consumers must be approved by an authorised firm unless an exemption applies.

What UK users can access now

Bybit said UK customers can again use its services, including spot trading across 100 currency pairs, notes CoinDesk.

The exchange described the restart as a reopening of UK services rather than a limited pilot, positioning it as a return to the market after the regulatory shift.

Bybit’s policy team framed the UK as a market with a sophisticated financial ecosystem and a clearer regulatory direction, saying the exchange intends to introduce products tailored for UK users while prioritising transparency and compliance.

How Archax is enabling compliant crypto promotion

To support its UK activity, Bybit will operate and market its services via London-based crypto exchange Archax.

Archax holds a specific FCA permission that allows it to approve financial promotions, a route that can enable unauthorised firms to legally market and provide services to UK consumers.

Archax said it is supporting Bybit’s compliant access to the UK market and pointed to prior work helping other large exchanges, states CoinDesk,  including Coinbase and OKX, reach UK users without needing their own authorisation.

What the 2027 crypto rulebook signal means

Alongside the FCA’s stricter approach to promotions, the UK government has said it intends to establish a crypto rulebook by 2027.

That announcement has fuelled expectations of a more defined operating environment for exchanges, even as marketing standards remain a key gatekeeper for consumer-facing activity in the near term.

Industry watchers see the arrangement as another test case for how large global crypto platforms re-enter the UK without holding direct regulatory authorisation under evolving financial promotion oversight regimes globally.

The post Bybit returns to UK crypto market after 2 years appeared first on CoinJournal.

Bybit returns to UK crypto market after 2 years

Source: https://coinjournal.net/news/bybit-returns-to-uk-crypto-market-after-2-years/

Kraken has acquired the US-licensed Small Exchange from IG Group in a $100 million deal, as the crypto exchange strengthens its push into regulated derivatives trading.

The acquisition, which includes $32.5 million in cash and $67.5 million in Payward stock — Kraken’s parent company — gives the exchange the ability to offer perpetual futures and round-the-clock trading directly to US customers under regulatory oversight.

Kraken gains CFTC-licensed access to US derivatives market

The Small Exchange is registered with the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM).

This means Kraken can now operate within the US regulatory framework and offer futures trading without routing activity through third-party venues.

The move will allow the exchange to integrate clearing, risk, and matching services into a single environment that adheres to the same standards as major global exchanges.

This acquisition represents a major step for Kraken’s expansion strategy.

The company already holds similar regulatory permissions in the UK and the EU and recently purchased the retail futures trading platform NinjaTrader for $1.5 billion.

That deal enabled the firm to provide CME-listed futures across crypto, equities, and commodities, expanding its global derivatives footprint.

IG Group secures profit and ongoing partnership

For IG Group, the sale of Small Exchange marks a strategic exit from its US derivatives operations.

The $100 million deal is expected to generate a post-tax gain of £73.3 million and increase IG’s regulatory capital by £22.7 million.

Despite divesting its ownership, IG will continue to collaborate with Kraken through a partnership agreement that ensures access to product distribution opportunities linked to the exchange’s derivatives offerings.

This decision aligns with IG’s broader goal of focusing on growth in other regions.

The company recently strengthened its crypto operations by acquiring Independent Reserve, an Australian cryptocurrency exchange, and securing a cryptoasset licence from the UK Financial Conduct Authority.

Move comes ahead of planned IPO

Kraken’s acquisition comes at a time when the exchange is preparing for an initial public offering, expected as early as the first quarter of next year.

The move to own a US-licensed futures exchange could help position the company more favourably with investors and regulators ahead of its listing.

The US regulatory environment for crypto firms has also become more flexible under President Donald Trump’s administration.

Several enforcement cases, including some involving Kraken, have been dropped or paused while new rules governing the digital asset sector are being developed.

The post Kraken looks to expand US derivatives business with $100M IG deal appeared first on CoinJournal.

Kraken looks to expand US derivatives business with $100M IG deal

Source: https://coinjournal.net/news/kraken-secures-us-derivatives-licence-with-100m-deal/

UK Finance has launched a pilot programme for tokenised sterling deposits (GBTD), marking a step towards digital innovation in traditional banking.

The initiative, announced on Friday, is being developed with six major banks—Barclays, HSBC, Lloyds Banking Group, NatWest, Nationwide and Santander—and will run until mid-2026.

The pilot will test how tokenised deposits can modernise payments, reduce fraud, and improve settlement processes, while also aligning with the country’s wider push to regulate crypto-assets by 2026.

Six banks test digital pound deposits

The GBTD pilot is designed to create a digital representation of commercial bank money in pound sterling.

By joining forces with the six banks, UK Finance aims to measure how tokenised deposits can enhance efficiency for customers, businesses and the wider UK economy.

The initiative is expected to support safer transactions, streamline settlement systems, and give consumers greater control over payments.

Quant Network, a UK-based blockchain interoperability company, will provide the underlying infrastructure for the project.

The firm previously supported the Regulated Liability Network (RLN), a shared ledger-based financial market framework tested in 2024 with the same banks and additional institutions such as Citi, Mastercard, Standard Chartered, Virgin Money and Visa.

Quant Network to build infrastructure

Quant’s involvement will enable the GBTD pilot to test use cases across three areas—online marketplace payments, remortgaging processes and wholesale bond settlement.

The company said the project goes beyond payments, introducing programmable money that can alter how value is managed.

The technology aims to offer efficiency gains and new settlement models that could support both retail and wholesale financial activity.

The project builds directly on RLN’s earlier success, which created a regulated environment for testing distributed ledger technology in traditional banking.

By applying the lessons from that initiative, the GBTD pilot is expected to generate more practical outcomes that could be adopted at scale in the coming years.

Pilot linked with upcoming regulations

The launch comes as the Financial Conduct Authority (FCA) finalises a regulatory regime for crypto-assets, with implementation targeted for 2026.

In April 2025, the Treasury published a policy note clarifying how qualifying stablecoins and tokenised deposits will differ from electronic money.

The FCA has accelerated crypto approvals after criticism, preparing the ground for a more structured framework.

Meanwhile, the European Union has already brought its Markets in Crypto-Assets (MiCA) regulation into effect, covering many aspects of tokenisation.

However, tokenised deposits remain outside MiCA’s remit because they continue to fall under traditional deposit and banking rules.

This regulatory distinction highlights the UK’s efforts to create a clear path for tokenised commercial bank money as part of its broader financial innovation strategy.

What the project aims to achieve

The pilot is expected to run for at least 18 months, with results shaping future policy decisions.

By testing tokenised deposits in real-world scenarios, UK Finance and its partners want to understand how they can fit within regulated banking systems.

The project is positioned as an experiment in bringing distributed ledger technology into mainstream financial services without displacing existing banking structures.

The post UK Finance launches pilot for tokenised sterling deposits appeared first on CoinJournal.

UK Finance launches pilot for tokenised sterling deposits

Source: https://coinjournal.net/news/uk-finance-launches-pilot-for-tokenised-sterling-deposits/

South Korea has reported a dramatic rise in suspicious cryptocurrency transactions in 2025, signalling deepening concerns over money laundering and cross-border crime.

According to data from the Financial Intelligence Unit (FIU), domestic exchanges filed 36,684 suspicious transaction reports (STRs) between January and August. This already surpasses the combined totals of the previous two years.

Authorities say much of the increase stems from illegal foreign remittance activities, known locally as “hwanchigi”, where digital assets are used to bypass capital controls and funnel money abroad.

The surge highlights how crypto crime has rapidly evolved into a systemic issue for regulators.

Suspicious transactions hit historic highs

The growth in flagged transactions has accelerated in recent years. In 2021, only 199 cases were reported. By 2022, this surged to nearly 18,000, followed by 16,076 in 2023.

The 2024 total doubled that figure, but the 2025 data for August has already set a new record.

The Korea Customs Service (KCS) referred ₩9.56 trillion ($7.1 billion) in crypto-linked crimes to prosecutors between 2021 and August 2025.

More than 90% of these cases were tied to hwanchigi-related laundering activities, where crypto is used as an intermediary to disguise and reroute funds.

Officials note that exchanges are filing STRs at unprecedented levels, showing both increased surveillance and higher levels of suspicious activity.

Stablecoins linked to global transfers

Regulators have increasingly flagged stablecoins as a key tool in illicit cross-border transactions. Stablecoins are designed to mirror fiat currencies and are often used for faster settlement. However, their role in foreign exchange crimes has become more visible.

In May 2025, customs officials exposed a case involving ₩57.1 billion ($42 million) moved between South Korea and Russia using Tether (USDT).

The investigation found two Russian nationals had completed more than 6,000 illegal transfers between 2023 and 2024. Such cases show how stablecoins can be exploited to sidestep financial restrictions, including sanctions and capital controls.

Experts highlighted this risk, pointing to the growing use of stablecoins in the real economy and their vulnerability to criminal misuse.

The South Korean parliament has urged agencies to scale up monitoring to prevent disguised remittances and to trace criminal funds more effectively.

Lawmakers demand stronger measures

South Korean lawmakers have pressed for tougher enforcement mechanisms, particularly against new types of foreign exchange crimes linked to crypto.

Calls have been made for the FIU and KCS to expand coordination, enhance transaction monitoring, and tighten compliance requirements for exchanges.

Authorities are also exploring ways to strengthen cooperation with international regulators. With hwanchigi cases often involving foreign intermediaries and platforms, officials stress the need for global partnerships to limit cross-border laundering.

Discussions focus on enhancing information sharing and creating stricter frameworks for reporting suspicious stablecoin transactions.

A global regulatory challenge

The scale of South Korea’s STR filings mirrors similar concerns elsewhere. The European Union has introduced its Markets in Crypto-Assets (MiCA) framework, which sets limits on stablecoin transaction volumes and mandates compliance checks to prevent financial crime.

Meanwhile, central banks in the UK and Europe have considered introducing transaction caps on digital currencies to reduce illicit flows.

South Korea’s data underscores how regulators worldwide are grappling with the same issue: how to balance innovation in digital payments with financial integrity.

With crypto adoption rising, the challenge for policymakers remains preventing misuse without stifling legitimate use of the technology.

The post South Korea sees record surge in suspicious crypto transactions in 2025 appeared first on CoinJournal.

South Korea sees record surge in suspicious crypto transactions in 2025

Source: https://coinjournal.net/news/south-korea-sees-record-surge-in-suspicious-crypto-transactions-in-2025/

Britain’s financial regulator has unveiled proposals that could reshape how cryptocurrency companies operate in the country.

The Financial Conduct Authority (FCA) said on Wednesday that crypto firms might be exempted from four key principles that usually apply to financial services companies.

These rules normally ensure that businesses act with integrity, with skill and diligence, and in the best interests of customers.

The FCA’s consultation comes at a time when Britain is positioning itself as a major player in the global digital assets sector, after signalling in April that it would work with the United States on a coordinated approach.

FCA suggests easing four core principles for crypto sector

The FCA said it is considering removing four specific obligations for crypto trading platforms.

These cover requirements that firms must run their business with integrity, act with care and skill, take account of customer interests, and ensure any advice or discretionary decisions made for clients are suitable.

The regulator noted that while crypto assets remain volatile and risky, the new framework is designed to help firms meet consistent standards without stifling competition.

The regulator stressed that these adjustments are aimed at supporting the growth of the UK’s crypto industry, while still maintaining trust and market stability.

At the same time, it highlighted that crypto assets remain high-risk and consumers must continue to be protected from poor business practices.

Stronger operational risk rules after $1.5 billion hack

While easing some principles, the FCA is also proposing stricter measures on operational risk.

This move follows a $1.5 billion hack on Dubai-based exchange Bybit in February, which the regulator pointed to as an example of why “strong operational resilience controls” are needed.

The FCA wants firms to ensure they have systems in place that can withstand cyberattacks and operational failures, which are becoming more frequent as digital asset markets expand.

The consultation paper also asks whether customer access to the Financial Ombudsman Service should extend to crypto asset firms, giving clients a route to compensation when disputes arise.

In addition, it seeks feedback on whether the consumer duty—requiring firms to put customer interests first—should apply in this market.

Growing ownership of cryptocurrencies in Britain

Crypto ownership has increased sharply in Britain in recent years.

Government data shows that about 12% of adults have owned or currently own cryptocurrencies such as Bitcoin or Ethereum, compared with only 4% in 2021.

This rapid growth underscores the need for a regulatory framework that both protects customers and allows the industry to expand in a competitive environment.

The FCA is asking for feedback on its proposals by 12 November.

Any finalised rules are likely to set the tone for how Britain balances consumer protection with the ambition to build a sustainable and competitive digital asset sector.

The post Crypto firms in Britain may face new FCA proposals on conduct rules appeared first on CoinJournal.

Crypto firms in Britain may face new FCA proposals on conduct rules

Source: https://coinjournal.net/news/crypto-firms-in-britain-may-face-new-fca-proposals-on-conduct-rules/

A public petition urging the United Kingdom to adopt a pro-innovation strategy for blockchain and stablecoins has gathered momentum after crypto exchange Coinbase rallied its users to support the initiative.

The petition, which has been live on the UK government’s website since July, calls for a comprehensive framework covering stablecoin regulation, blockchain adoption, and the appointment of a blockchain “czar.”

While it initially gained little attention, interest accelerated this week after Coinbase issued in-app messages encouraging users to sign.

Screenshots shared on social media showed notifications from the exchange urging customers to “help UK lead stablecoin innovation now.”

At the time of writing, the petition had surpassed 5,000 signatures.

Once it reaches 10,000 signatures, the government is required to issue a formal response.

If the total climbs to 100,000 signatures, the proposal will be considered for parliamentary debate.

The petition remains open until March 3, 2026.

Calls for regulatory clarity and innovation

The proposal outlines three specific demands: establishing a framework for stablecoins and tokenization, promoting blockchain adoption across government functions, and designating a senior official dedicated to overseeing crypto policy.

Supporters of the petition argue that stablecoins form the foundation of a tokenized economy and that regulatory clarity is essential for the UK to remain competitive.

The petition highlights that the United States has ruled out a central bank digital currency (CBDC) in favor of stablecoins, suggesting that the UK risks falling behind without a clear strategy.

“This is a question of national interest to preserve the competitiveness of the City and sterling’s global standing,” the petition states.

Advocates warn that without timely action, the UK may lose its edge to other jurisdictions pursuing more aggressive digital asset strategies.

Coinbase’s role in shaping UK crypto policy

Coinbase has been vocal in its campaign for clearer digital asset regulation in the UK.

In recent months, the exchange has stepped up efforts to influence public debate and policymaking.

On July 31, Coinbase released a satirical video titled “Everything is Fine.”

The video contrasted upbeat lyrics celebrating Britain’s financial system with visuals of inflation, poverty, and economic challenges, a pointed critique of the status quo.

Just days later, on August 5, former UK Chancellor and current Coinbase adviser George Osborne published an opinion piece in the Financial Times.

In the article, Osborne warned that the UK is falling behind in the global digital asset race and singled out stablecoins as an area where the country has ceded ground.

Coinbase’s support for the petition reflects its broader strategy of pressing for regulatory clarity and fostering a more favorable operating environment for digital assets in the UK.

With the petition already halfway to the government’s response threshold, the initiative underscores growing pressure on policymakers to provide direction on stablecoins and blockchain innovation.

The post Coinbase-backed petition pushes UK on blockchain and stablecoin policy appeared first on CoinJournal.

Coinbase-backed petition pushes UK on blockchain and stablecoin policy

Source: https://coinjournal.net/news/coinbase-backed-petition-pushes-uk-on-blockchain-and-stablecoin-policy/

Dogecoin (DOGE) surged 18% this week, reclaiming the $0.20 mark after breaking above key technical levels on Thursday.

The rally follows a new trade agreement signed between the United States and the United Kingdom, which triggered bullish momentum across the crypto market.

DOGE’s upward move mirrors broader investor optimism, with market-wide recoveries helping it clear the 50-day and 100-day exponential moving averages (EMAs), historically strong resistance zones for the meme coin.

At the time of writing on Friday, DOGE was trading at approximately $0.206, having established a support base above $0.20.

The renewed interest was accompanied by a sharp rise in trading volume and derivatives activity, suggesting increased participation from institutional and retail traders.

Source: CoinMarketCap

$13 million in liquidations

Dogecoin’s rally sparked a wave of liquidations in the futures market, with approximately $13 million worth of positions wiped out in the past 24 hours.

According to Coinglass data, short liquidations made up the majority at $11.3 million, while longs accounted for just $1.6 million.

This imbalance indicates a textbook short squeeze, where a sharp price increase forces traders with bearish positions to exit rapidly, pushing prices even higher in the process.

Open Interest (OI) in DOGE futures also jumped by 18% to $2.17 billion, a sign of growing trader appetite.

The surge in OI, particularly from long positions, suggests market participants are positioning for further upside.

Binance’s long-to-short ratio of 2.4602 reinforces this trend, showing more traders betting on DOGE to move higher.

Volume activity added to the bullish confirmation. DOGE’s 24-hour trading volume spiked 74.49% to reach $4.5 billion, with elevated volume during an uptrend generally viewed as a confirmation of momentum strength.

Inverse head and shoulders targets $0.24 breakout

Dogecoin has broken out from a classic inverse head and shoulders formation, often seen as a bullish reversal signal.

The structure, observed on the daily chart, projects a potential 33% move from the breakout level, which puts the next price target at around $0.24.

The projection is based on the pattern’s height measured from the head to the neckline and applied above the breakout point.

Currently, DOGE is attempting to stabilise above the 100-day EMA at $0.20.

If this support holds, the bullish momentum is likely to continue into the next sessions.

The MACD indicator also shows positive divergence, with green histogram bars above the centreline pointing to increasing upward pressure.

However, traders should remain cautious. The RSI has reached 70.31, entering the overbought zone.

While this does not immediately signal a reversal, it often precedes short-term corrections.

Should DOGE retreat from current levels, the 50-day EMA at $0.18 may serve as a key support and re-entry zone.

The post Dogecoin jumps 18% as trade deal boosts crypto market activity appeared first on CoinJournal.

Dogecoin jumps 18% as trade deal boosts crypto market activity

Source: https://coinjournal.net/news/dogecoin-jumps-18-as-trade-deal-boosts-crypto-market-activity/

James Howells, the man who has been in search of his lost Bitcoin worth over $784 million since 2013 is seeking to buy a landfill.

Howell claims to have mistakenly discarded a hard drive that contained 8,000 BTC and is seeking to buy the landfill site where he lost it in an attempt to recover his fortune.

The man filed a lawsuit in a bid to have the Newport Council dig up the landfill to try and find the lost Bitcoin. In over 10 years Newport Council has made no attempts to try to recover the discarded Bitcoin.

The quest for the lost BTC

Howells reported that his fiancé discarded the hard drive containing cryptocurrency estimated to have a market value of $784 million in the landfill site in 2013. In an attempt to get his crypto assets back, Howells wants to buy the landfill site.

BBC recently reported that Howells has approached various investors with a bid to potentially buy the whole landfill site.

Since 2013, Howells claims that Newport City Council have disregarded his plea to be allowed to search for his fortune. Earlier today, it was reported that the UK landfill site containing the lost Bitcoin hard drive is set to close.

The city council announced plans to have the landfill site converted to a solar farm on the site after acquiring planning permission last August.

Howells had filed a lawsuit against the council seeking legal grounds to hunt for the Bitcoin. In January, a high court judge made a ruling dismissing the case that required Newport council to forcefully allow Howells to search for his Bitcoin.

Judge Keyser KC, the Circuit Commercial Judge for Wales, said there are no “reasonable grounds” for succeeding at a full trial.

James Howells threw away $750 million of bitcoin accidentally a decade ago and has been trying to recover the hard drive from a landfill ever since. Today, a judge has rejected his latest attempt to search through 110,000 tons of garbage for his digital gold. pic.twitter.com/douIDzDdQO

— Documenting ₿itcoin 📄 (@DocumentingBTC) January 11, 2025

During the hearing, Howells noted that Newport council claimed that granting him a search warrant would have detrimental effects on the people around Newport. Plans to close the landfill were also underway, and that would be soon.

After failed attempts to have the council retrieve the hard drive worth millions for him, Howells offered to buy the whole landfill.

“I have discussed this option recently with investment partners and it is very much on the table,” he said, according to the BBC.

The post UK man looks to buy landfill site amid search for $784m lost Bitcoin appeared first on CoinJournal.

UK man looks to buy landfill site amid search for $784m lost Bitcoin

Source: https://coinjournal.net/news/uk-man-looks-to-buy-landfill-site-amid-search-for-784m-lost-bitcoin/