The FCA and the Bank of England are calling for industry feedback on their proposed stablecoin regulation framework, aimed at targeting systemic payment systems and ensuring financial stability. The move marks a significant step in the UK’s efforts to establish a safe and regulated environment for digital currencies.
In a significant move to regulate the rapidly evolving cryptocurrency market, the UK’s Financial Conduct Authority (FCA) issued 146 alerts related to cryptoasset promotions within the first 24 hours of implementing its new crypto marketing regime.
With the rapid evolution of Web3 technologies and the burgeoning crypto market, the UK is poised to carve a niche for itself, potentially outpacing the United States.
To protect investors and promote market integrity, the United Kingdom’s Financial Conduct Authority (FCA) will ban the free promotion of non-fungible tokens (NFTs) and cryptocurrencies via airdrops once cryptocurrency promotion rules come into effect on October 8.
The Bank of England (BoE) is reportedly considering whether to limit stablecoin payments in new regulations, according to the Bank of England’s deputy governor, Jon Cunliffe.
The UK government has set out plans for a major international crackdown on crypto-related crime and money laundering. The plans include a global task force and increased regulation and enforcement of crypto-assets.
The Financial Conduct Authority (FCA), the top financial regulator in the UK, has taken further action against unregistered cryptocurrency ATMs in East London in collaboration with the Metropolitan Police, the largest police force in the UK.
HSBC and Nationwide have announced new restrictions on buying cryptocurrencies in the United Kingdom, citing a warning from the Financial Conduct Authority (FCA), the U.K. regulator that oversees the financial services industry, about the risks involved in buying cryptocurrencies.
The UK government has introduced a tax relief policy for foreign investors who use local brokers or investment managers to invest in cryptocurrencies.
It is reported that the British Ministry of Finance is finalizing a comprehensive rule package to regulate the cryptocurrency industry.
In 2022, many countries are under the weight of inflation and other economic conditions. Some analysts believe that the outlook for digital currencies is cloudy, a direct result of macroeconomic uncertainty and Bitcoin’s strong correlation with stocks and fiat currencies.
In the face of a cryptocurrency market of more than $2 trillion and a trend of increasing popularity around the world, the United Kingdom is sending positive signals and is expected to become the latest country to fully regulate the industry.
The UK Advertising Standards Authority (ASA) issued an enforcement notice to more than 50 companies advertising cryptocurrencies, describing the issue as a red alert priority.
The UK Financial Conduct Authority (FCA) issued a statement condemning all bitcoin and cryptocurrency ATMs as illegal.