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The central bank official spoke about the risks cryptocurrencies and stablecoins may pose when connected to traditional financial systems through individuals, financial institutions, hedge funds, and banks. Go to Source Powered by WPeMatico
The world’s largest exchange has played regulatory hopscotch, moving from different jurisdictions without central offices. Go to Source Powered by WPeMatico
Wirex has temporarily halted signing up new U.K. customers following what it called “constructive dialogue” with the Financial Conduct Authority. Go to Source Powered by WPeMatico
A 108-page report details how the United Kingdom can retain its status as one of the global centers for fintech innovation and business. Go to Source Powered by WPeMatico
Her Majesty’s Treasury in the U.K. issued a document that details a series of proposals addressing the crypto community. With the consultation, the Treasury is initiating a “regulatory approach to cryptoassets and stablecoins” for 2021 following the Brexit turmoil. Special Focus on Stablecoins Regulation According to the official announcement, the consultation mainly targets stablecoins to … Read more
In addition to trying to define stablecoins, the UK is looking to establish how close it wants its crypto laws to be to other countries. Go to Source Powered by WPeMatico
The UK government is seizing funds in dormant bank accounts worth approximately $185 million to fund its coronavirus relief efforts. So far, 30 banks have been voluntarily transferring money from dormant accounts to the government, including HSBC, Barclays, Clydesdale, Credit Agricole, Danske, Santander, Lloyds, and Bank of Scotland. The government has also proposed adding other … Read more
