UK To Bring Crypto Under Financial Services Laws By 2027
According to reports, the UK Treasury will extend existing finance laws to cover cryptoasset firms, with the new rules set to take effect in October 2027. Related Reading: Crypto’s Back-End Gets A Boost As Coinbase And Standard Chartered Join Forces This means exchanges, wallet providers and other crypto service companies will move beyond current anti-money-laundering […]
Related News
Financial technology (fintech) has exploded during the last two years and cryptocurrency and blockchain firms have bolstered the billion-dollar industry. A recently published study by Utility Bidder indicates that the industry is predicted to surpass $382 billion by 2027. Moreover, fintech firms that are blockchain-specific are projected to be worth over $67.4 billion by 2027. The recent study also highlights that Kraken is the most influential blockchain company of 2021. Kraken Named 2021’s Most Influential Blockchain Company Numerous research studies have shown the fintech....
The blockchain’s immutability, one of its greatest strengths, could also prove to be one if its greatest limitations, given the need to reverse certain activities in financial services, argues Richard Lumb, an Accenture executive, writing in The New York Times. Lumb noted the bitcoin blockchain’s immutable record clashes with evolving privacy laws, such as newly-proposed European Union laws. He also noted that new laws in the U.S. require personal financial data to be easily redacted. He says immutability is becoming a serious blockchain technology issue, one also raised by the recent....
According to the Swiss Federal Council and government sources, Switzerland will postpone the automatic exchange of cryptocurrency account data with foreign tax authorities until at least January 2027. Related Reading: $36 Million Gone: Solana Hack Strikes South Korea’s Top Exchange That means the country will still pass new rules next year, but the cross-border sharing […]
Crypto is one of the backbones of the world’s gaming industry, which is growing and drawing in more game addicts. The value of the gaming sector might reach $350 billion by 2027 – thanks to cryptocurrency. The crypto world may be surprised by some of the surprising disclosures made by Triple A’s most recent cryptocurrency […]
In much of Africa, many people still lack access to basic financial services for many reasons. One of the reasons is that financial institutions have set standards or thresholds that make it impossible for low-income earners to even open a bank account. Access to soft loans or other forms of financing is even more cumbersome while the punitive interest rates charged ensure that SMEs, farmers, and other groups do not even entertain the idea of borrowing banks. The fact that this has been ongoing for many years is a clear indication that the conventional banking system has failed these....