U.K. Treasury MP Talks up Fintech, Blockchain & Digital Currencies
The United Kingdom has established a role as a global fintech leader and the government is committed to continuing this leadership, according to Harriett Baldwin, MP at HM Treasury. Baldwin announced several new steps the country is taking in this direction at Innovate Finance’s Global Summit at Guildhall in London. The U.K. leads in a variety of fintech specialties, such as alternative lending, e-commerce, digital currencies and others. Baldwin applauded the line-up of summit speakers, including digital currencies, blockchain, alternative finance and companies focused on expanding banking....
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The Australian Government Treasury has, in a detailed policy statement pledging support for Fintech to boost the industry, revealed that digital currencies such as Bitcoin will be exempt from double taxation. The policy statement also details how the government plans on regulating companies in the Fintech arena, as well as those in the bitcoin and blockchain space. In a policy statement released by the Australian Government today, new proposed measures to boost the Fintech sector and establish Australia as a Fintech destination will see the government reduce tax barriers for Fintech....
UK Chancellor George Osborne who has previously declared his intention to explore digital currencies like Bitcoin has now reiterated his stance during a recent conference in London. The UK's Chancellor of the Exchequer, George Osborne spoke about digital currencies at the Bank of England's Open Forum conference. The Chancellor reiterated the UK Treasury's recent stance of welcoming Fintech investment and opening the doors for the UK to be a major destination for new financial technology. As reported by The Financial Times, Osborne said: I want the U. K. to be the global center of fintech.....
The rumors have been flying that the UK Treasury is looking into digital currencies and how to create some form of legal net for these currencies. The UK Treasury is asking for information on new digital currencies from the public, law enforcement agencies and financial regulators. However, most of these people do not know what digital currencies are. That is why the UK government is giving the hand of friendship toward the Bitcoin community ( kind of). According to our information, the UK Treasury will be looking at examples of regulation in other countries, but will make up their own....
Japan’s finance minister Taro Aso suggested on Tuesday that the G7 finance ministers should have discussions over central bank digital currencies (CBDCs) in Friday’s virtual meeting. Read more: G7 Officials Stress Need to Regulate Digital Currencies: US Treasury
The United Kingdom Treasury's public call for information on digital currencies closed yesterday, after a 31-day consultation period. The Treasury issued the call on 3rd November after the Chancellor of the Exchequer said in the summer that a "major programme of work" would be launched around researching digital currencies and associated technologies. Now, the UK Digital Currency Association and several companies in the industry have published their responses to the Treasury's call. The UKDCA's 46-page response underlines the fact that digital currencies should be treated as a 'financial....