Multiple traditional financial institutions in the United Kingdom have expressed concerns regarding the government's plans to regulate cryptocurrencies. These institutions have raised issues related to accuracy, taxation, and consumer protection as potential risks associated with cryptocurrency regulation. The Institute of Chartered Accountants in England and Wales (ICAEW) cautioned that regulation ...
The UK government has launched a new strategy to combat financial fraud, which according to the National Crime Agency, cost the country approximately £7 billion ($8.7 billion) per year. The strategy includes plans to ban cold calls that promote financial products such as insurance and cryptocurrencies. Bloomberg reported that the ...
The United Kingdom has announced an initial investment of £100 million ($124.8 million) to create a joint task force between the government and industry focused on artificial intelligence (AI) development. The task force's objective is to create safe and reliable foundation models that will secure the UK's sovereign capabilities and ...
Coinbase has unveiled a plan for the UK to become a hub for the Web3 economy and "turbocharge" its cryptocurrency industry. On April 17, 2023, Sky News reported that the UK Treasury intends to reactivate the Asset Management Taskforce and collaborate with the private sector to establish crypto regulations, in ...
