BPUK Newsletter Q1 2024
Quarterly owing to the updates below!
Our first newsletter for 2024 covers Q1 - rather than each of the first three months. Our only (hopefully valid) excuse has been that the team have been flat out, and our bandwidth for writing the letter has been very narrow! As we’ll aim to show over the next few pages.
What BPUK has been up to:
Policy
ETFs:
We kicked off the year with the publication of our open letter to the City Minister regarding the inaccessibility of ETF products to UK retail customers. At the end of 2023, we spent some time with Jacobi Asset Management doing a deep dive into their ETF products (that they are forced to list in Amsterdam, as they can’t list them in the UK): https://x.com/freddienew/status/1742481828416520503?s=20
The City Minister has since responded to our letter (https://www.bitcoinpolicy.uk/post/uk-regulators-out-of-step-with-the-rest-of-the-world-on-etfs-city-minister-responds) and we have met with him personally and raised these issues with him.
Outreach in Parliament:
Freddie attended an event hosted by the UK CryptoAsset Business Council in Parliament and briefed new contacts there on a number of issues key to the Bitcoin space:
https://twitter.com/freddienew/status/1749752821618995273
Keeping your access to Bitcoin clear
A lot of our work towards the start of 2024 has been aimed at helping UK Bitcoiners retain access to exchanges and to Bitcoin generally. You may recall that in 2023, new FCA regulations came into force that categorised Bitcoin as a ‘restricted mass market investment’. While we continue to fight this inaccurate and unfair designation, we’ve also taken steps to steer UK Bitcoiners through the changes that have been made to their accounts as a result of this.
You may have noticed that your exchange of choice has been asking you additional questions before you van buy, and requiring you to classify yourself as a restricted investor, a high net worth individual, or a sophisticated investor. The BPUK team has been through the majority of these questionnaires and provided walkthroughs for each of them; see Freddie’s pinned tweet here for assistance:
https://twitter.com/freddienew/status/1743644557441470496
We’ll continue adding to these as we work our way through new exchange restrictions - please get in touch with the team if you are facing any difficulty in accessing your coins or exchanges!
APPG Round Table
Freddie was invited to a roundtable with MPs, Lords and industry representatives, to discuss debanking and other roadblocks facing Bitcoiners and the industry in the UK:
We followed up with a briefing paper to the APPG on the real frictions and problems facing UK Bitcoiners and Bitcoin businesses at the moment, despite the ‘crypto hub’ messages coming from Government. See more details here: https://x.com/freddienew/status/1770109773385474152
If you wish to help the Policy team, make sure to retweet our responses on Twitter or help with our Parliament Geyser project.
Mining and Sustainability
We are currently assessing several promising mining projects and exploring new opportunities in research and development. While much of our work involves sensitive details covered under non-disclosure agreements, we are thrilled about the progress we are making. Here is what we can share.
A massive thank you to everyone who has donated to our mining project fund - and special thanks to Bitfarms and to Neil Roseman, who donated 10 S9 miners. We’ll use these miners both in educational efforts and also adapt them as space heaters as part of our efforts to build working proof of concepts for different mining applications that could be relevant in the UK despite our high electricity costs:
https://x.com/bitcoinpolicyuk/status/1757400417602781647
Since the launch of the Mining and Sustainability Geyser fund, we've had the privilege of engaging with some of the most innovative minds in the Bitcoin mining sector. Whilst funds have not yet been allocated, we're optimistic about sharing some exciting developments as soon as they're finalised.
You can donate to our fund here.
Next Gen
The donated S9s are already being put to good use in the classroom….
https://x.com/D_Spizzle1/status/1769804615308963880
Events and Media Appearances
Freddie, Russell, and Susie attended a Bitcoin Surrey meetup to watch a screening of 'Stranded,' a film by Alana Mediavilla. 'Stranded' is the precursor proof of concept to 'Dirty Coin,' exploring how mining supports rural communities and builds essential infrastructure.
https://x.com/bitcoinpolicyuk/status/1747656675929051392?s=46&t=yTIAh0ALifomfty2grV1eA
Susie attended and reported on the COPA vs. Craig Wright trial in London.
https://twitter.com/decentrasuze/status/1754898930033209853?s=46&t=yTIAh0ALifomfty2grV1eA
Freddie and Susie attended the launch of Musqet, a new paytech firm that enables businesses to accept both Bitcoin and fiat payments, seamlessly, via a single Point of Sale device
https://x.com/bitcoinpolicyuk/status/1770878960907243607
Susie spoke on stage at Bitcoin Atlantis!
Freddie was interviewed by 2140 Art:
Interview: Freddie New — Protecting Bitcoiner freedom in the UK
He also spoke with Bitcoin Belfast on the ETFs and regulation:
And had the great honour to be invited on Once Bitten by Daniel Price!
Articles
Susie released a number of articles in Forbes, not least regarding the Craig Wright v COPA trial, which she was able to attend in person.
Highlights And Insights From The Bitcoin Atlantis Conference In Madeira
UK Undermines ‘Crypto Hub’ Vision As US Approves Bitcoin Spot ETF
Bitcoin Overtakes Silver As Second Largest ETF Commodity
Academic Challenges United Nation’s Misleading Bitcoin Mining Study
Craig Wright’s Legal Battle Over Satoshi’s Identity Unravels In Court
Ethiopia's $250 Million Tech Expansion In Bitcoin And AI
Strike's Bitcoin Expansion And Tech Growth In Africa
Bitcoin Mining Unlocks Iceland's $9.24 Million Food Import Gap
London Stock Exchange Bitcoin ETNs Edge Towards Market Demand Response
Upcoming Events
Two key events for Q2 are the joint event held by the Human Rights Foundation and BPUK in London, and Cheatcode - plus the various events that are planned around the halving. More next time!
To follow BPUK and contact the team:
Email: contact@bitcoinpolicy.uk
Website:
https://bitcoinpolicy.uk
Twitter: https://twitter.com/bitcoinpolicyuk
Linkedin: https://www.linkedin.com/company/bitcoin-policy-uk