Bitcoin Industry Responds to UK Treasury's Call for Information
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....
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The UK Treasury has issued a 'Call for Information' on digital currencies in order to weigh the risks and benefits offered by the new technology. The request is intended to provide the government with the information necessary to fully understand digital currencies, as well as to solicit feedback and opinion from all interested parties. The Call for Information will be open for one month to allow individuals, businesses and other organisations to submit their comments on a wide range of issues. The document asks 13 questions, ranging from basic information on the potential benefits of....
The UK Government, through Her Majesty's Treasury (HM Treasury) has asked for public feedback to assist in their formation of digital currency regulations. https://www.gov.uk/government/consultations/digital-currencies-call-for-information. HM Treasury has been aware of the developing Bitcoin space for quite some time, yet previously (2013) they had agreed to take a "wait and see" approach, allowing businesses in the bitcoin space to develop within the UK without any hindrance. Earlier this year, George Osborne (Chancellor of the Exchequer), asked HM Treasury to investigate the potentials....
Around the same time as Accenture's call for the UK government to regulate bitcoin wallets, Citi suggested that officials should look into creating their own digital currency. This has been revealed in the Treasury's release of a document entitled "Digital Currencies: Response to the Call for Information". This report summarizes all the submissions received by the government after it urged the public to assist them in understanding the workings of the digital currency industry. The Treasury received more than 120 responses and has outlined the proposals and the government's next steps.....
UK's HM Treasury invites views and evidence on the risks and benefits of digital currencies in a Call for Information. UK's economic and finance ministry, the HM Treasury, announced on November 3, it was holding a public Call for Information on digital currencies. The organization will be gathering views and opinions on the advantages and the risks involved in dealing with digital currencies, in order to decide "whether [the government] should take action to support innovation in this area," while "examining the risks presented by digital currencies, and assessing whether action is....
The UK Government's Ministry for Economy and Finance - Her Majesty's Treasury, tasked with setting the UK's future economic policies is steadfast in its approval and welcoming of block chain technology and digital currencies. It started when the UK Treasury issued a public call in November 2014, seeking inputs for ways to effectively regulate digital currency. "What are the potential benefits of (this) distributed ledger technology? How significant are these benefits?" was one of 13 questions asked during the "call for information"; while fully acknowledging the fact that intermediaries....