Key Points:
Griffith stated at City UK’s annual dinner on Thursday that he intended to have the bill on the books by Easter. The statute book is a record of all legislation that has been passed and enacted in the United Kingdom.
My ambition is for us to be the global financial hub – using our strengths to enhance strong relationships with jurisdictions all around the world, attracting investment and increasing opportunities for cross-border trade.
Griffith said in his speech
The measure was revised in October to include new provisions for crypto assets. The reforms, if passed, will give the Financial Conduct Authority (FCA) and HM Treasury new monitoring powers. The measure also focuses on stablecoins and will bring the United Kingdom closer to the European Union’s Markets in Crypto-Assets (MICA) regulation.
Crypto regulation is already mainly in the hands of the FCA, which decides on crypto business registrations based on anti-money laundering criteria. The proposed bill would give the FCA much more regulatory authority.
Earlier this week, the United Kingdom revealed its plans to regulate cryptocurrency trading and lending. The Treasury published a consultation paper outlining a new crypto regulatory framework that will include crypto service providers, financing platforms, consumer protection, coin issuance, and other topics. This framework will also give the FCA more authority.
The crypto sector has been generally supportive of the new framework proposal thus far, and it has until the end of April to provide comments on the paper.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
The integration helps users with a $10 USDC reward for purchasing at least $10 of…
11 people lost property worth NT$4.34m in a Singapore crypto poker robbery, including $3.58m SGD…
Hong Kong asset managers invested $112M in US-based spot Bitcoin ETFs. Yong Rong Asset Management…
Arthur Hayes offers insights into Bitcoin's recent performance, along with predictions for its future trajectory,…
According to ZachXBT, someone suffered from address poisoning and phishing due to copying the wrong…
Fidelity Investments, a mammoth asset manager with a portfolio valued at $4.8 trillion, has disclosed…
This website uses cookies.