Christie’s to become Europe’s first auctioneer to accept cryptocurrency payment

An auction hammer.

Christie’s is due to become the first major auction house in Europe to offer a work with the option for the buyer to pay their payment, including Buyer’s Premium, in cryptocurrency. 

The June 30 sale of Keith Haring’s Untitled (1984, estimate: £3.9m-£4.5m) will also mark the first time that a tangible work of art is being offered in Europe by an auction house with the option to pay in cryptocurrency. 

Originally owned by the celebrated German gallerist...

A quarter of students now own cryptocurrency

University students sitting at a table.

One in four (24%) of students are now cryptocurrency owners, according to UNiDAYS, a firm that specialises in offering student discounts.

The study of more than 24,000 UK students also found that a further third plan to buy cryptocurrency within the next three months. The ryptocurreny most commonly owned by students is Bitcoin (26%), followed by Dogecoin (11%), Ethereum (10%) and Ripple (3%).

Almost half (40%) of those questioned expect cryptocurrency to replace...

Daymak Spiritus will be world’s first electric car to mine cryptocurrency while parked

Daymak crypto mining platform.

Daymak, a light electric vehicles (LEVs) manufacturer, has revealed its upcoming Spiritus electric car will include Daymak Nebula, Daymak’s patent-pending cryptocurrency infrastructure. 

The Spiritus, launching in 2023, is the electric car offering in the Daymak Avvenire series, a lineup of EVs spanning e-bikes all the way up to flying electric vehicles.

Daymak is accepting Spiritus pre-order payments in a multitude of cryptocurrencies including Doge, Ethereum,...

Crypto firms failing to meet anti-money laundering standards, warns UK watchdog

A pile of bitcoins.

A substantial amount of cryptocurrency businesses are not meeting the minimum anti-money laundering and counter-terrorism requirements set by the UK’s Financial Conduct Authority (FCA).

As of January 2021, cryptocurrency-related companies have had to register with the authority before doing business.

The FCA said it “will only register firms where it is confident that processes are in place to identify and prevent this activity”.

Just five companies are...

How can cryptocurrency achieve mainstream adoption?

A pile of bitcoins.

Tesla founder Elon Musk ensured Bitcoin remained in the headlines this week, backtracking on comments he made that had suggested he might throw his support behind Dogecoin instead of Bitcoin.

During one of many recent Twitter spats, Musk tweeted: “Obnoxious threads like this make me want to go all in on Doge."

Rumours had already begun circulating that Tesla planned to sell the bitcoins it purchased for $1.5 billion (£1.06bn) in February 2021. Subsequently, Bitcoin...

Weekly NFT roundup May 5-11: Music and wine industry updates – plus a meta definition

Another week, another roundup of NFT stories which would have sounded remarkable at the start of this year. Yet as The Block continues to document, many industries are getting on board with the concept, from real estate, to various consumer products.

Here are the highlights from the past seven days in chronological order:

Merriam-Webster offers the NFT of the definition of NFT

Dictionary guardian Merriam-Webster has, as of this morning (May 11), added NFT to...

Bitcoin Association touts cost-effectiveness of Bitcoin SV in yearly roundup

The annual report (pdf, direct download) from Bitcoin Association, a Switzerland-based organisation working to advance business on the Bitcoin SV blockchain, has argued that Bitcoin SV had higher daily transaction volumes and higher block sizes than other Bitcoin networks whilst still remaining the most cost-effective.

The organisation’s report highlights the achievements and the technical progress of the Bitcoin Satoshi Vision (SV) network, a forked version of the Bitcoin Cash...

Banking survey reveals increased personal and corporate interest in blockchain

A report from global marketing agency LEWIS has argued the banking sector is more invested in blockchain technologies than previously considered - but mixed attitudes still remain in terms of large-scale adoption.

The agency's ‘Banking on Blockchain’ report looks at the extent to which banks are corporately investing in blockchain, as well as how personally involved senior bankers are.

From a survey of more than 500 senior professionals in the industry, LEWIS found...

Argo blockchain co-founders launch London IPO of new DeFi investment company

Dispersion Holdings, an investment company specialising in decentralised finance (DeFi) established by the co-founders of bitcoin mining company Argo, has launched its IPO on the London-based Aquis Stock Exchange Growth Market (AQSE).

Intending to place 200 million shares at 5p each, Dispersion aims to raise approximately £10 million before expenses in a float that will value the company at around £25 million with first dealings in the shares expected to commence later this...

South Korea threatens to shutdown all crypto exchanges amidst growing crackdown

The head of South Korea’s financial regulatory agency has said that all crypto exchanges operating in the country could be shut down later this year.

The statement from Eun Sung-soo comes as the South Korean government has launched a reinvigorated crackdown on ‘illegitimate crypto businesses’ and digital money laundering.

Seoul’s tax collection department kicked off the crackdown last week with the seizure of 25 billion won (£16.1 million) from over 600 tax...