Treasury Report: UK's Bitcoin Startups React
This week's news that the UK government will seek to regulate digital currencies made waves in the local startup community. The UK Treasury report, revealed on Wednesday as part of chancellor George Osborne's annual budget, outlined plans to curb criminal activity via AML (anti-money laundering) regulation and allow digital currency companies to opt-in to standardised consumer protections following May's election. The government also proposed injecting £10m into research on digital currencies as part of its larger pledge to innovation in FinTech. While many of the 120 submissions that....
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As you all know, United Kingdom recently released a treasury report that explained plans for regulating bitcoin and other cryptocurrency based businesses by bringing in Anti-money Laundering (AML) regulations. This report received mixed response from the bitcoin startup community across the country. The Her Majesty's Treasury report - Digital currencies: response to the call for information is a comprehensive report created after due consultation with 120 respondents. These 120 respondents viz. digital currency using public, developers, businesses involved in digital and cryptocurrency....
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