UK lawmakers open inquiry into NFT regulation — ‘there are fears that the bubble may burst’
According to the DCMS committee, NFT regulation in the U.K. is “largely non-existent,” with lawmakers planning to assess the assets ahead of a review by the treasury department.This post was originally published on this site
Santander UK Limits Cryptocurrency Exchange Transactions, Bank Says Investing in Crypto ‘Can Be High Risk’
On Nov. 3, Santander UK, the subsidiary of the Spanish financial giant Banco Santander, S.A., published a notice that says “investing in cryptocurrency assets can be high risk.” Furthermore, the British bank also imposed a limit on cryptocurrency exchanges using the firm’s mobile and online banking services. Santander UK Limits Crypto Exchange Transfers to ‘Protect’ […]
Bank of England raises interest rates to 3%, largest jump in 33 years
The Bank of England is trying to bring soaring inflation under control by dramatically increasing the cost of borrowing money.This post was originally published on this site
United Kingdom banks are a threat to crypto, and that’s bad news for everyone
Banks in the United Kingdom try to block businesses and individuals alike from investing in cryptocurrency. Regulators should fix the situation.This post was originally published on this site
A new definition of crypto comes from the IRS — Law Decoded, Oct. 17–24
IRS broadens the classification of crypto, Ripple gets another point in a case against SEC and Hong Kong considers its own regulatory framework in opposition to China.This post was originally published on this site
FCA green lights Revolut, making no UK crypto firms operating under temporary status
Revolut had been the last ‘holdout’ out of 12 companies originally granted FCA temporary registration to continue offering crypto services in March.This post was originally published on this site
Bitcoin, British pound trading volume soars 1,150% as UK’s currency risks dollar parity
Doom and gloom for some British pound investors is neatly avoided with a Bitcoin flight.This post was originally published on this site
Global think tank suggests blockchain in public finance can help reduce fraud
Modernizing public finance management through blockchain could help governments identify potential corruption and waste by providing additional transparency and traceability.This post was originally published on this site
GBP follows Euro: The pound-dollar rate hits all-time low
Reaching 1 GBP = $1.04, the pound has crash-landed, marking a record low against the U.S. dollar following the new prime minister’s budget announcements. This post was originally published on this site
UK gov’t introduces bill aimed at empowering authorities’ to ‘seize, freeze and recover’ crypto
King Charles announced the bill in May to both houses of the U.K. Parliament, saying it was aimed at tackling illicit finance, reducing economic crime and helping businesses grow.This post was originally published on this site