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 ...
Gemini has begun offering Ethereum staking to its users in the UK as part of its efforts to diversify its offerings and reach more people worldwide. On June 23, 2023, the crypto exchange officially launched Gemini Staking Pro in the UK, allowing institutions and high-net-worth individuals to participate as validators ...
The Financial Conduct Authority (FCA) of the United Kingdom announced on June 8, 2023, that it would introduce stringent regulations to improve investor protection and promote a better understanding of risks among investors. The new regulations, effective from October 8, 2023, primarily target cryptocurrency services in the country. These regulations ...
The Crypto and Digital Assets All-Party Parliamentary Group (APPG) has released an extensive report containing 53 crucial recommendations for regulating the UK's cryptocurrency and digital asset market. Titled "Realising Government's Vision for The UK to Become a Global Hub for Cryptocurrency & Fintech Innovation," the report aims to provide policymakers ...
A recent report by British legislators recommending the classification of cryptocurrencies as gambling has been the subject of fierce criticism from stakeholders in the UK cryptocurrency industry. The House of Commons Treasury Committee released the report on May 17, 2023, in which it proposed regulations similar to those applied to ...
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 ...
