UK government
Stablecoins have a new name in Great Britain: Law Decoded, Oct. 24–31
The first full week under the leadership of the newly-elected Prime Minister Rishi Sunak saw a major landmark for crypto regulation in the United Kingdom. The Financial Services and Markets Bill, made public on Oct. 25, aims to enhance the U.K.’s position as a “global leader in financial services” — but what is more important is that it contains some new definitions for crypto products. The bill moves stablecoins from the category of crypto assets to digital settlement assets (DSA) — a new category marked by its potential “to develop into a widespread means of payment.” It’s yet to be seen what regulations the DSA will be subject to and if this change of status will guarantee them a green light for adoption. But, even that scope of change brings optimism. It seems we may witness unpr...
The UK has a new name for stablecoins and a new bill to regulate crypto
The United Kingdom moved forward on the Financial Services and Markets Bill on Oct. 25, hardening its vision for Bitcoin (BTC) cryptocurrency and “digital settlement assets” in the country. The Bill, proposed on Oct. 18, suggested would propose “A range of measures to maintain and enhance the U.K.’s position as a global leader in financial services, ensuring the sector continues to deliver for individuals and businesses across the country.” The Bill reasserts the U.K.’s intention to become a global cryptocurrency hub, comments echoed by Dr. Lisa Cameron, Member of Parliament and the chairperson of The Crypto and Digital Assets All-Party Parliamentary Group. In an exclusive interview with Cointelegraph over the weekend, she explained that crypto is on the lawmakers’ radar, although there is...
British MP Lisa Cameron on Bitcoin and UK becoming international crypto hub
The United Kingdom could be warming to Bitcoin (BTC) and crypto. Taking a timeout from Scotland’s first major Bitcoin conference, Cointelegraph spoke to Lisa Cameron, a Member of Parliament who is spending more and more time working with digital assets. Cameron told Cointelegraph: “I have spoken to companies who are involved in CBDCs and stablecoins. We’ve looked at crypto tokens, and Bitcoin is obviously part of the sector.” As the Scottish National Party Member of Parliament for East Kilbride, Strathaven and Lesmahagow (areas of Scotland), Cameron works in Westminster–a metonym for the Parliament of the United Kingdom. She rubs shoulders with the new crypto-curious Prime Minister, Rishi Sunak. Cameron is also the chairperson of The Crypto and Digital Assets All-Party Parliamentary ...
AML and KYC: A catalyst for mainstream crypto adoption
For Satoshi Nakamoto, the creator of Bitcoin (BTC), the motivation to create a new payment ecosystem from scratch in 2009 stemmed from the economic chaos caused by the banking sector’s over-exuberant and risky lending practices mixed accompanied by the bursting of the housing bubbles in many countries at the time. “And who do you think picked up the pieces after the fallout? The taxpayer, of course,” said Durgham Mushtaha, business development manager of blockchain analytics firm Coinfirm, in an exclusive interview with Cointelegraph. Satoshi recognized the need for a new monetary system based on equity and fairness — a system that gives back power into the hands of the people. A trustless system with anonymous participants, transacting peer-to-peer and without the need of a central ...
Third non-EU country, Ukraine, joins the European Blockchain Partnership
After Norway and Liechtenstein, Ukraine became the third country outside the European Union (EU) to join the European Blockchain Partnership (EBP), an initiative derived by 27 member states to deliver cross-border public services. The Ministry of Digital Transformation of Ukraine announced the country’s move to join the EBP as an observer on June 17. With the ultimate goal of integrating its digital economic space with the EU, Ukraine plans to expand its interstate blockchain network partnership with other countries. Ukraine’s intent to join the EBP dates back to July 2021, when Oleksii Zhmerenetskyi, the head of the Parliamentary group, Blockchain4Ukraine, and Konstantin Yarmolenko, the founder and CEO of Virtual Assets of Ukraine, wrote a letter to Ursula von der Leyen, the president of ...
NCA wants regulation for coin mixers, but the crypto industry is already one step ahead
The United Kingdom’s National Crime Agency (NCA) seeks to regulate the crypto coin mixers under the country’s laws against money laundering. Coin mixing tools are popular in the decentralized world as they maintain the privacy of transactions. These tools often mix several transactions to obscure the origin of a particular transaction. Then the recipient receives the transactions from a mixing “black box” comprised of hundreds of transactions from various wallets. While privacy-focused, these tools often face regulators’ ire as they are also a known way for hackers and criminals to wash their funds. Gary Cathcart, the NCA’s head of financial investigation, claimed that these transaction mixing tools offer a layer of anonymity to criminals that can be use...
Clampdown on crypto ads: A one-off or a new phase of global regulation?
Over the last week, regulators in three major jurisdictions across two continents introduced new rules governing cryptocurrency-related promotions and advertisements. Citing consumer risks associated with digital asset investments, authorities in the United Kingdom, Singapore and Spain tightened the requirements around crypto firms’ marketing messaging and customer recruitment practices. While some experts view this emerging trend as a sign of a new global phase of cryptocurrency regulation, questions about the efficiency and universal applicability of this approach persist. New measures In the United Kingdom, Her Majesty’s Treasury issued a report summarizing the results of a public consultation on crypto-asset promotions, published in July 2020, as well as the government’s further steps ...
Coronavirus: England to lift mask, distancing rules July 19
Prime Minister Boris Johnson on Monday revealed plans to lift most of England’s legal coronavirus restrictions, including face masks and social distancing from July 19, urging personal responsibility rather than government edict. Johnson had initially aimed for a full reopening on June 21, but was forced to push back the date because of a surge in the highly contagious Delta variant. That variant now accounts for nearly all new Covid-19 cases in Britain, and infection rates have soared, sparking concern. But mass vaccinations have stopped a resultant surge in hospital admissions or deaths. “This pandemic is far from over, it certainly won’t be over by the 19th,” warned Johnson. “We must reconcile ourselves, sadly, to more deaths from Covid. “There’s only one reason why we can contemplate g...
Italian premier calls for Euros final to be moved from Wembley
The prime minister of Italy has called for the Euro 2020 final to be moved from Wembley due to coronavirus concerns. Mario Draghi says the level of infection in the United Kingdom means alternative venues must be considered. “I will try to stop the final being held in a country where infections are rising quickly,” he said on Monday when asked if Rome could be considered a possible replacement. Wembley is due to host five knockout matches, including both semi-finals and then the final on July 11. Italy will also play their last-16 game in London against Austria on June 26. Cases of COVID-19 have been increasing in recent weeks in the UK, fuelled by the Delta variant first identified in India, with a further 10,633 confirmed on Monday. There are also still strict travel restrictions in plac...
House summon AGF over ‘blockage’ of $60 billion repatriation
The House of Representatives has again summoned the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) for allegedly halting the repatriation of $60 billion loot from Texas, United States of America. The Chairman of the Ad hoc Committee on Assessment and Status of All Recovered Loots – Movable and Immovable Assets from 2002 to 2020 by Agencies of the federal government for Effective Efficient Management and Utilisation, Rep. Adejoro Adeogun, summoned Malami on Wednesday in Abuja when a former Special Prosecutor to the Special Presidential Investigation Panel (SPIP), Mr Tosin Ojaomo, appeared before it. He also revealed that before the panel which was headed by Okoi Obono-Obla was disbanded, it investigated the Auditor General of the Federation for the withdra...
Igbo group writes Nigerian government to request extradition of Nnamdi Kanu for ‘treasonable felony
YouTube An Igbo professional group, Coalition of South East Professionals’ Network in Nigeria and Diaspora (CSEPNND), has written an open letter to the Federal Government of Nigeria, urging it to immediately write the Government of the United Kingdom and Israel, requesting for extradition of leader of Indigenous People of Biafra,Mazi Nnamdi Kanu,to face the law over his involvement in alleged treasonable felony. The group whose request was contained in the open letter dated January 8th, 2021, and addressed to President Muhammadu Buhari, explained that its action was predicated on Kanu’s ceaseless treasonable activities in the country. Noting that Kanu possessed citizenship of the two foreign nations, the coalition, according to the letter signed by its National President, Prof. Madumere Ch...
Arsenal defender tests positive for coronavirus
Arsenal have confirmed that defender Gabriel Magalhães has tested positive for coronavirus. Gabriel has impressed since joining from Lille in the summer, making 15 appearances across all competitions. The 23-year-old is expected to miss the next two matches whilst he self-isolates, as per the UK Government’s guidelines. Get more stories like this on Twitter You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
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