Digital asset firms continue to flounder in face of strict UK regulations
Rishi Sunak’s vision of the U.K. becoming a global hub for Bitcoin will likely come true, and the U.K. will be better off for the strict approach it has taken from the outset.
Rishi Sunak’s vision of the U.K. becoming a global hub for Bitcoin will likely come true, and the U.K. will be better off for the strict approach it has taken from the outset.
"Patient Passports" could be managed more efficiently if the records are stored on a blockchain that is cryptographically secured and verifiably accurate—like the BSV blockchain.
The COPA trial is reminiscent of the film "The Man in the White Suit," with not only the main character and Dr. Wright having similar fashion style but also seemingly foreshadowing his proceedings.
The £100 million funding will go toward upskilling workers for the AI era, launching nine new AI hubs, and training regulators, although the U.K. authorities have yet to figure out the regulation side.
The days of U.S. tech bullying the ‘little guys’ around the globe may be numbered, at least in the EU and U.K., where new laws are being introduced to prevent them from abusing their dominant positions.
The Bank of England and the U.K. Treasury remain undecided about the necessity of a CBDC in the U.K. but confirmed that neither the Bank nor the government would have access to users' personal data.
While proving his identity as Bitcoin creator is vital in the upcoming COPA trial, Dr. Craig Wright clarified that the focal point of this legal battle is to fight to maintain Bitcoin's integrity.
While the United Kingdom has good intentions in enforcing laws on the digital asset industry, the new financial promotions regime puts firms unable to legally market in the region at a significant disadvantage.
The Bank of England takes aim at Bitcoin as a payment method, with Governor Andrew Bailey calling it "inefficient," while Deputy Governor Sarah Breeden cites the lack of regulatory clarity for its adoption.
In compliance with the FCA's new order, OKX will test its retail customers to determine their eligibility to hold an OKX account and manage digital assets responsibly starting January 8, 2024.
The U.K.'s new Economic Secretary, Bim Afolami, will be available to speak to the Crypto and Digital Assets All-Party Parliamentary Group about digital asset firm's access to U.K. banks, according to Chancellor of the Exchequer Jeremy Hunt.
Three days before the halt of trading pairs involving GBP, Binance users in the United Kingdom were caught off guard as the exchange has started declining transactions covering the British pound.