The UK Parliament has empowered law enforcement to seize and freeze illicit crypto assets. UK lawmakers have unanimously voted on a cybersecurity-focused bill.The bill has been assented into law.The bill will allow the direct seizure of crypto assets suspected to be involved in crime.The United Kingdom (UK) of Great Britain is doubling down on illegal…
Transak’s compliance chief, James Young, told Cointelegraph that while the U.K.’s new crypto marketing rules are good for the industry, they still pose challenges to some firms operating in the decentralized space. On Oct. 8, the United Kingdom’s Financial Conduct Authority (FCA) imposed new marketing rules compelling cryptocurrency firms to promote their products and services clearly, fairly and…
During their recent meeting, the G20 finance ministers and central bank governors have embraced the roadmap on crypto assets proposed by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). They have called for “swift and coordinated implementation” of this roadmap. The G20 finance ministers and central bank governors gathered in Marrakech, Morocco,…
The Bank of England’s plans for a CBDC launch raise concern among U.K. Tax Reform Council and the broader Bitcoin community. The United Kingdom Tax Reform Council has launched a campaign against the Bank of England’s plan to introduce a central bank digital currency (CBDC). The nonprofit organization warns that such a move could seriously harm…
Crypto firms in the United Kingdom could face some harsh punishments under the FCA’s proposed financial promotions regime. Newly proposed advertising rules in the United Kingdom could potentially see executives of crypto firms face up to two years of prison for failing to meet certain requirements around promotion, according to the United Kingdom’s financial watchdog. …
British regulator the Financial Conduct Authority (FCA) has taken a massive swipe at the crypto industry, labeling exchanges as platforms for money laundering. Global regulators have been railing against crypto over the past month, and their wild condemnations are becoming more extreme. The latest to make one of these ludicrous accusations is incoming FCA chair…
The lower house of the Parliament voted in favor of adding crypto to the scope of activities to be regulated via the proposed Financial Services and Markets Bill – which already seeks to extend payments rules to stablecoins. Lawmakers in the U.K. voted in favor of recognizing crypto assets under regulated financial activities in the…
Former Boris Johnson Chancellor of the Exchequer Rishi Sunak is the first contender for Prime Minister of the United Kingdom. To become the party leader, Sunak needed to receive 100 public nominations, a threshold he successfully reached. Rishi Sunak’s goal is to establish London as Europe’s crypto capital. After Boris Johnson’s departure, Rishi Sunak was…
The new leader of the world’s sixth-largest economy is the former chancellor of the exchequer and is said to be richer than King Charles. He is also a firm crypto supporter. Rishi Sunak is set to become prime minister of the United Kingdom within days. Sunak was defeated for the top government post by Liz…