UK sets out plans to regulate crypto and protect consumers

She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena. By recognising the potential of this technology and regulating it now, the government can ensure financial stability and high regulatory standards so that these new technologies can ultimately be used both reliably and safely. At the moment, the main services of our company are legal and compliance solutions for FinTech projects. The legal team can assist with legal analysis, project structuring, and legal regulation. The FCA evaluates crypto businesses by considering whether they meet certain threshold conditions (based on the business’ complexity) described in the Guide. For AML/CFT purposes, crypto companies of any legal structure are required to submit an Annual Financial Crime Report via RegData within 60 business days of the company’s Accounting Reference Date .

Corporation tax

Same here in the UK, the government no doubt has given a free hand but also kept a close watch. Despite this many scams do occur, many people do get fooled but some prosper also. The regulatory authorities always wanted to bring cryptos under regulation. Measures include legislating for a ‘financial market infrastructure sandbox’ to help firms innovate, an FCA-led ‘CryptoSprint’, working with the Royal Mint on an NFT, and an engagement group to work more closely with industry. Stablecoins to be brought within regulation paving their way for use in the UK as a recognised form of payment. In the 2022 Economic Freedom Index, which examined judicial performance, tax burden, regulatory efficiency, freedom of investment, and other factors, the United Kingdom ranked 24th out of 177 countries.

Tetap Terhubung Dengan Kami:

Laporkan Ikuti Kami Subscribe

CATATAN REDAKSI: Apabila Ada Pihak Yang Merasa Dirugikan Dan /Atau Keberatan Dengan Penayangan Artikel Dan /Atau Berita Tersebut Diatas, Anda Dapat Mengirimkan Artikel Dan /Atau Berita Berisi Sanggahan Dan /Atau Koreksi Kepada Redaksi Kami Laporkan,
Sebagaimana Diatur Dalam Pasal (1) Ayat (11) Dan (12) Undang-Undang Nomor 40 Tahun 1999 Tentang Pers.