UK Treasury official Bim Afolami has criticized what he perceives to be an overregulation of the nation's crypto landscape. Speaking at an event on May 8, 2024, Afolami emphasized the importance of ensuring that regulatory scrutiny does not undermine the crypto industry's growth and innovation potential. Afolami claimed that the ...
A new report from the UK Treasury has drawn attention to the increased risk of cryptocurrency transactions between 2022 and 2023 being money laundering activities. This comes as UK regulatory agencies ramp up efforts to tackle financial crimes in the crypto sphere. The report, which was about the Treasury supervisory ...
The U.K. government is preparing to introduce new legislation covering crypto staking, stablecoin, exchange and custody services by June or July 2024. The nation's Economic Secretary, Bim Afolami, reportedly announced this at the Innovative Finance Global Summit on Monday, April 15. Afolami stated that active efforts are underway to finalize ...
Australian computer scientist Craig Wright is in a legal battle in the United Kingdom over charges brought by some cryptocurrency exchanges and developers for claiming to be Nakamoto Satoshi, the developer of Bitcoin. The trial hearing, which began on February 5, was marked by heated disagreements and serious allegations regarding ...
Former British Finance Minister George Osborne has taken on the role of a global advisor at Coinbase, according to a new report from CNBC. Osborne, who served as Chancellor of the Exchequer from 2010 to 2016, brings a wealth of experience in economic policy to the cryptocurrency exchange. Coinbase Chief ...
The United Kingdom has assured that the impending legislation for a digital pound will prioritize user privacy and the control of their funds, according to a new report by the country's Ministry of Finance and the Bank of England (BoE). The report, which was published after a comprehensive consultation on ...
In a surprising turn of events, Bybit has announced the suspension of its services in the United Kingdom (UK). Starting from October 1, 2023, the exchange will cease onboarding new users residing in the UK. Existing users in the region are expected to wind down their positions on the exchange ...
The UK's Financial Conduct Authority (FCA) has announced that it will give crypto firms an extended grace period to implement the required changes as it begins to enforce new regulations in the sector from October 2023. In a statement released on September 7, 2023, the FCA noted it could extend ...
The UK government has taken a significant step towards advancing its artificial intelligence (AI) capabilities by appointing distinguished figures from the realms of security and computer science to its Frontier AI Taskforce. In an official press release published on September 7, 2023, the government emphasized the pivotal role of these ...
Worldcoin, a cryptocurrency and ID project co-founded by Sam Altman, has caught the attention of the UK's data regulatory agency, the Information Commissioner's Office (ICO). Concerns have been raised about the project's privacy practices and the security of critical biometric data. The ICO confirmed its awareness of the project's launch ...
