UK Government to Fund Research in Digital Currencies and Explore Regulation
UK Government Funds Research in Digital Fintech and Promotes Firm Regulations. In November, the U. K. government launched a call for information on digital currencies, with a focus on their function as a payment method rather than as a speculative investment. After receiving more than 120 responses, the government released a Treasury document titled....
Related News
While most governments have been taking steps to regulate the bitcoin industry and others declaring a completely close-minded stance against digital currencies, Canada's Senate decided to vote against bitcoin regulation. The Canadian Senate's Banking, Trade and Commerce (BTC) committee released its findings last Friday and asked the federal government to use a "light touch" in dealing with digital currencies. The report indicated that legislators have acknowledged that the bitcoin industry is still young and developing so they'd like to see a more nurturing environment instead of one that....
Japan will soon have new regulations governing the Bitcoin industry as the Japanese parliament. Diet, the country’s bicameral legislature, approved a bill on regulation of virtual currency exchanges. The bill calls for a revision of the existing fund settlement laws originally designed for fiat currencies to accommodate Bitcoin and other digital currencies. By doing so, the government intends to offer better protection to digital currency users in the country. Japan has been in the forefront of the digital currency evolution. It is worth remembering that the world’s largest Bitcoin....
Today sees the launch of our new in-depth analysis reports service, CoinDesk Research. CoinDesk's platform and resources bring a unique opportunity to provide industry-leading research and insights on the most pressing issues concerning digital currencies and their emergence into mainstream society. For the inaugural CoinDesk Research report, we have chosen regulation as the topic - one that has significant implications for the continued growth of the industry. The Regulation Report explores a number of different perspectives - from governments, entrepreneurs and the digital currency....
Since the realm of virtual currencies is a decentralized industry, there is no single monetary authority or government agency implementing bitcoin regulation these days. In the United States, state governments are in charge of coming up with the necessary legislation to oversee the activity of bitcoin companies and enforcing the rules. For the Uniform Law Commission (ULC), there is a need for a unified bitcoin regulation law, as this could help strike the balance between consumer protection and encouraging innovation. The group recently released a discussion-only draft of their proposed....
Josh Blatchford is CMO of London-based bitcoin startup BTC.sx. Last week in the United Kingdom, the Conservative Party was re-elected into power. This article explores what their plans to regulate bitcoin might look like and whether they are capable of creating a bitcoin hub in the UK. The last government unveiled its stance on bitcoin back in April. Along with a call for information, it stated: "The government intends to apply anti-money laundering regulation to digital currency exchanges in the UK, to support innovation and prevent criminal use. The government will formally consult on....