Will the New UK Government Create a Bitcoin Hub?
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....
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Delivering the Queen’s Speech, Prince Charles outlines the British government’s plans to support the safe adoption of cryptocurrencies and create “powers to more quickly and easily seize and recover crypto assets.”
UK Government Plans to Support Crypto Adoption
The U.K. government outlined its legislative agenda for the next parliamentary year in the Queen’s Speech delivered Tuesday by Prince Charles, the monarch’s son and first in line to the throne. The Queen’s Speech is written by the government and read out by the monarch as....
Germany wants to take cryptocurrency under government control. On January 2, the Christian Social Union (CSU) presented a document which offers several solutions to combat terrorism. According to Die Welt, one such solution includes taking transactions of virtual currencies such as Bitcoin under control. Such a measure is aimed at preventing terrorism financing, a problem that stands sharp especially after the Munich terror alert. Bitcoin allows anonymous transactions without the necessity of personal identification or the ability to track sender and receiver. No wonder the currency is so....
London has been trying to establish itself as the global hub of bitcoin, with more and more cryptocurrency enthusiasts freely able to exchange ideas about the industry in this city. In addition, the UK government has taken a relatively open-minded stance in taking cryptocurrency developments in stride. According to Citi, the UK government should create its own cryptocurrency to spearhead the shift to a more technologically-advanced shift in monetary systems and payments. "The greatest benefits of digital currencies can be realised through the government issuing a digital form of legal....
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.....
The Colombian government contemplates deploying a central bank digital currency (CBDC) to mitigate tax evasion. The country recently went through a change of government, and the new Gustavo Petro-led administration is apparently seeking to amend the alleged mistake of his predecessor. Related Reading: Bitcoin Is Now Accepted In This Popular Resort In The Maldives In […]