Absent any further appeal by the developers, Tulip Trading’s case will proceed to trial, where the question of the extent to which blockchain developers owe legal duties to their users will be decided in full light of the evidence and the facts.
The plans by the HM Treasury are intended to make the U.K. a digital asset hub while giving due recognition to the risk they pose to investors and the wider financial system.
London is gearing up for ICE 2023, which is set to take place on February 7 and bring in key industry leaders as they rally for responsible gaming with blockchain technology.
Once the listing went up for the London penthouse, speculation was rife that Ignatova is back after five years; however, it had nothing to do with her or U.K. authorities.
While Switzerland and the European Union are leading the race to become a digital assets hub, Philip Hammond believes the U.K. is not far behind and may soon see it overtake with proper regulations.
The FCA revealed that 5% of firms that had applied for authorization were accepted on the first attempt, while 85% were rejected for failing to meet the minimum AML and terrorist financing standards.
U.K. Treasury is looking for a Head of Central Bank Digital Currency who will lead its work on a potential digital pound but hasn’t committed to issuing the CBDC.
After its second reading of the Financial Services and Markets Bill, members of the British House of Lords have voiced concerns that it does not go far enough and that a whole new regulatory approach will be required.
Applicants vying for a position in the new 'crypto cell' department must have proper training on blockchain as they will spearhead new and existing investigations on crimes tied to virtual currencies.
The Rishi Sunak government will implement a tax exemption for foreign investors who purchase digital assets through local investment brokers and managers.
'Designated cryptoassets' in the United Kingdom are now qualified for Investment Manager Exemption, allowing foreign investors to evade strict tax implications.