Bitcoin Forum>Bitcoin>Bitcoin Discussion
Pages:
Author

Topic: U.k Approves Cryptocurrency As A Regulated financial Activity. - page 3. (Read 369 times)

coupable
hero member
Activity: 2338
Merit: 757
Re: U.k Approves Cryptocurrency As A Regulated financial Activity.
June 30, 2023, 11:33:51 AM
#2
Quote from: Cryptomultiplier on June 30, 2023, 11:17:15 AM

What do you think?

Certainly, this will open broader horizons for service companies specialized in cryptocurrencies, such as stock exchanges and trading platforms, and will allow them to expand their activities, especially those platforms that have recently become in trouble in the United States, and that have certainly lost a large part of their user base.
At the same time, local users will be more vulnerable to losing their privacy since the government will surely impose tracking and verification measures on platforms that will obtain business licenses. I imagine that Binance and Coinbase will seize the opportunity to carve out this market full of users and will therefore offer greater guarantees accordingly to avoid actions similar to what the SEC is currently doing.
Cryptomultiplier
full member
Activity: 952
Merit: 232
Re: U.k Approves Cryptocurrency As A Regulated financial Activity.
June 30, 2023, 11:17:15 AM
#1
It no longer news that the U.K has received an assent from King Charles, which approves #Crypto as a regulated financial activity in the country.
It a very great step in the right direction of economic growth and it is far from what the U.S is doing by making crypto seem like an unholy venture despite its user base being larger than that of the U.K.

Quote
The FSMB will also lay the groundwork for the advancement of the blockchain sector in addition to establishing the following:

Enhances the scrutiny of the financial services regulators to ensure clear accountability, appropriate democratic input, and transparent oversight.
Removes unnecessary restrictions on wholesale markets – implementing the key outcomes of the Wholesale Markets Review.
Protects free access to cash in law and introduces crucial protections for victims of Authorised Push Payment scams.
Enables the regulation of crypto assets to support their safe adoption in the UK.
Establishes ‘sandboxes’ that can facilitate the use of new technologies, such as blockchain, in financial markets.

This is one assurance that crypto currency will soon become legal tender in more countries that look up to, or has been influenced by the U.k.
They will follow suit thus encouraging the adoption and use of cryptocurrency and its services.

What do you think?

https://www.fxstreet.com/cryptocurrencies/news/uk-passes-bill-to-recognize-crypto-as-regulated-financial-activity-boosts-adoption-in-europe- Smiley
Pages:
Bitcoin Forum>Bitcoin>Bitcoin Discussion
Jump to: