UK Financial Regulator Considers Approving Blockchain Startups
The U.K.’s Financial Conduct Authority (FCA) is thinking about approving a number of blockchain companies as it actively encourages businesses to utilize bitcoin’s underlying technology. Despite the fact that some regulators are cautious over the use of blockchain technology, the U.K.’s FCA is known as the most forward-thinking. It comes as no surprise then, that in an interview with the Financial Times, Chris Woolard, the FCA’s director of strategy and competition, explained that the FCA believes that the blockchain technology has some potentially interesting applications. He said: We are....
Related News
The UK’s Financial Conduct Authority (FCA) will possibly approve blockchain businesses within the region. This will give UK-based distributed ledger businesses an edge when it comes to grasping a broader reach towards consumers. The FCA Is Researching Blockchain Startups for Economic Growth. According to the Financial Times (FT), the UK’s FCA is....
According to a recent Bloomberg report, Japan’s top financial regulator is pumping the brakes on approving crypto-based exchange-traded funds (ETFs), taking a more conservative stance than regulators in some other countries. Crypto ETF Expansion Faces Headwinds In Japan Hideki Ito, commissioner of Japan’s Financial Services Agency (FSA), emphasized the need for “cautious consideration” when greenlighting […]
Since 2015, an increasing number of multi-billion-dollar financial institutions such as Goldman Sachs have exhibited their interest in emerging innovative financial technologies and startups. Several major banks and financial organizations have established various investment funds for fintech and blockchain startups, to research the application of fintech and blockchain technologies in the financial market. Blockchain technology focused startups have been the main attraction of these banks. According to the Outlier Ventures research team, there are over 1,000 blockchain startups in....
The UK Financial Conduct Authority (FCA) has unveiled a number of blockchain and digital currency projects to its regulatory ‘sandbox’ in a bid to promote product testing and consumer safety. Nine blockchain startups (out of a total of 24) are involved in the fintech sandbox, a development which comes more than two years after the FCA first launched its financial tech-focused initiative ‘Project Innovate’. Within the sandbox, startups test new services and products under the supervision of regulators. The startups involved are Billon, BitX, Epiphyte, Govcoin Limited, Otonomos, Nivaura,....
The Australian Securities and Investment Commission (ASIC) has released an information broadsheet on blockchain technology today. The sheet contains six questions that the regulator is likely to ask during its assessment for companies and startups considering the use of blockchain technology. As a government body, the ASIC is Australia’s financial services regulatory that also oversees financial markets and the country’s corporate infrastructure. Essentially, all Australian companies, financial markets and financial services such as investments, insurance, and credit fall are all regulated....