Tags: United Kingdom

UK Mps feel trading crypto is as addictive as gambling.

At the Bitcoin Builders Conference, Daniel Fogg from IOV Labs and Rootstock spoke with Cointelegraph about how emerging markets are shaping the future of the crypto space.

Britain’s plans to become a crypto hub are on the rocks as lawmakers have other ideas about how digital assets should be regulated.

The volatility and purported lack of intrinsic value of most crypto assets make it particularly risky for consumers, the politicians claimed.

Despite sweeping changes in the 244-page UK‘s recent gambling proposal, crypto will face no new restrictions.

Nexo is restructuring its operations but does not plan to leave the United Kingdom. 

Binance is backing the UK‘s regulatory framework and wants to be a part of it.

At a recent event, Tom Mutton, the Bank of England’s head of fintech, touted the privacy benefits of CBDCs while denouncing the anonymity of cryptocurrencies.

The FCA‘s actions followed similar operations in East London and Leeds, where the regulator said it had issued warnings or cease-and-desist requests to suspected ATM operators.

The U.K. Competition and Markets Authority says it will be examining the development and deployment of AI and its social impact.

“I’m an advocate for getting regulation in place that makes the most of the potential of the sector whilst protecting consumers,” said the MP.

The proposed regulatory changes aim to reduce the “administrative burden” for taxpayers.

The UK Treasury is seeking input on taxing the DeFi space, and on provisions around staking and lending.

While many countries have sped up their efforts to regulate cryptocurrencies following a crisis-filled 2022, most still lack a clear framework for the industry to build around.

“When you think about Bitcoin, it‘s potentially the largest country or one of the largest countries today. But it‘s digital in and it‘s spread out everywhere,” Jeff Booth told Cointelegraph.

The proposed regulatory changes seek to simplify how DeFi returns are taxed and reduce the “administrative burden” for taxpayers.

The British government has pledged 100 million British pounds ($124.8 million) in funding to support a task force for the development of “safe AI.”

The Financial Conduct Authority wants input from crypto companies on moving forward with regulations.

Can a Bitcoin-boosted football club breathe life into a tired town in the United Kingdom? This week’s “Decentralize with Cointelegraph” podcast tours Bedford.

Jennifer ended up with an outstanding debt of approximately $190,000 after being conned by crypto fraudsters.

"We’re the Bitcoin club. But as Bitcoin is, we‘re a community. So this is our team. And if we go up, everyone‘s going to be like, Yeah, that‘s our team!" chairman Peter McCormack told Cointelegraph.

The insights of Project Meridian would be used by the Bank of England in its Real-Time Gross Settlement (RTGS) system.

Armstrong hinted that Coinbase might shift to another nation if there is no clear crypto legislation in the US.