The regulations will take effect on Jan. 8, with the Bank of England and U.K. Financial Conduct Authority operating the sandbox.
Category: United Kingdom
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The Pope and US regulators warn about AI risks: Law Decoded
The head of the Catholic Church warned humanity of AI’s potential dangers and explained what needs to be done to control it.
Revolut Business reportedly cuts crypto services ahead of new rules
The neobank will halt crypto purchases by businesses while it sorts out new ad requirements.
Majority of UK MPs ‘lack crypto knowledge,’ says industry association
According to CryptoUK, MPs Andrew Griffith and Lisa Cameron were among the top crypto proponents in the U.K. government.
Crypto in the well and snake villain star in FCA’s pixelated animation
The United Kingdom’s financial regulator has published a pixelated, video game-styled Wild West cartoon to enlighten investors.
AI guidance for judges in England and Wales warns against risks
UK senior judges have published a set of AI guidelines for the judiciary to follow, which advises how to use AI and warns of the potential risks of using the technology in trials.
British regulator adds Justin Sun-linked Poloniex to warning list after $100M hack
The Financial Conduct Authority warns that the crypto exchange is operating without proper authorization.
Tax services are getting pushy to have crypto declared: Law Decoded, Nov. 27–Dec. 4
Spain and Brazil are chasing cryptocurrency stored abroad, while the U.K. wants taxes paid for crypto assets that weren’t previously declared.
UK House of Commons recommends further CBDC tests on viability, risks
The U.K. Parliamentary Committee fears that an official launch will demand a significant investment, adding that “It is not clear to us at this stage whether the benefits are likely to outweigh these risks.”
Crypto payment firm Alchemy Pay adds SEPA deposits in Europe
Alchemy Pay has introduced new deposit options, including the Euro Instant solution, SEPA Instant, and the U.K. fast money transfer option, Faster Payments.