Treasury slaps down calls for crypto to be regulated like gambling July 20, 2023 The Treasury has slapped down a suggestion from MPs that crypto should be regulated like gambling today, describing it as running “completely counter” to standards set by international watchdogs.
UK must have a ‘Goldilocks’ approach to crypto rules or risk scaring firms off, warns minister Griffith June 20, 2023 The UK must strike a “goldilocks” approach to crypto rules and not scare off a crop of fintech firms with an overly “hot” regulatory clampdown, the City minister has warned.
Crypto exchange Bitstamp wins FCA approval ahead of regulatory clampdown June 13, 2023 Crypto exchange Bitstamp has won authorisation from the UK’s financial watchdog today and doubled down on investment in Britain despite a looming clampdown from regulators.
Regulator plays sheriff as it takes on crypto marketing ‘wild west’ June 8, 2023 Crypto firms face a regulatory clampdown in the UK this year as the City watchdog cracks the whip on the “Wild West” landscape of crypto marketing. In a new set of rules announced today, the Financial Conduct Authority (FCA) said it will force crypto firms to introduce a “cooling-off” period, during which time consumers can [...]
MPs call for dedicated ‘crypto tsar’ as parliamentary schism emerges June 5, 2023 A group of crypto-friendly MPs have called for the appointment of a dedicated “crypto tsar” to oversee plans to turn the UK into a digital asset hub today, as stark divisions emerge in parliament over the future direction and role of the country’s crypto industry. In a new report, the All Party Parliamentary Group on [...]
Crypto ‘more closely resembles gambling than a financial service’, Treasury committee warns government May 17, 2023 An influential group of lawmakers has argued that consumer cryptocurrencies should be treated like gambling in the government’s upcoming crypto regulations. In a new report on the crypto sector, MPs on the Treasury Select Committee concluded that retail trading in unbacked crypto “more closely resembles gambling than a financial service”. The MPs noted that the [...]
Crypto venture capital backing tumbles again as market ‘winter’ spooks investors May 12, 2023 The amount of cash invested into crypto companies globally tumbled sharply again in the first quarter of the year as investors continue to flee the market amid a deep ‘crypto winter’, new data has revealed.
Binance seeks green light from UK as City minister lays out future for crypto rules May 10, 2023 Binance said it would do “everything we possibly can” to be regulated in the UK as the world’s largest crypto exchange hit out at the US’s regulatory environment. Speaking at the Financial Times’s Crypto and Digital Assets Conference, Binance’s chief strategy officer Patrick Hillmann argued the US “has been very confusing over the past six [...]
Britcoin: BoE’s CBDC head says digital pound will have ‘very highest standards of privacy’ May 9, 2023 The Bank of England’s director of fintech batted away concerns that a digital pound would threaten privacy as he confirmed that it would not be exchangeable with cryptocurrencies as they currently exist. Speaking at the Financial Times’ Crypto and Digital Assets Conference, Tom Mutton – who is responsible for leading the CBDC unit at the [...]
Crypto: As government consultation closes, what next for UK regulation? May 1, 2023 The government’s consultation on crypto regulations closed over the weekend with figures in the crypto industry welcoming proposals for greater oversight of the sector. The government hopes the regulations will turn the UK into a digital hub. The plans follow soon after a series of high-profile problems in the crypto industry, such as the collapse [...]