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 ...
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 ...
