#The UK Sets out Its Plans for Becoming a Global Crypto Hub

 

Binance Future Signals  - https://binancefuturessignals.com/

Binance Future Signals - https://telegram.me/binancefuturesignal

Free Bitcoin Signals App -

 https://play.google.com/store/apps/details?id=com.signalBroadcaster.FreeBitcoinSignals

We are the Number# 1 Crypto trading group on Telegram in 2023 provide high end tools and high quality Signals Crypto signals for Binance Futures, Bybit, Bitfinex, Kucoin, WazirX, Coinswitch, CoinDCX & Bitmex with an around 80-90% accuracy. All signals are provided by our Experts Team with proper take profit and proper stop loss including leverage for making daily profit in your account & Signals are informed to Elite Members very early in advance thus any trader from any part of the World can easily take position

We also provide Binance Futures, Bybit, Bitfinex, Kucoin, WazirX, Coinswitch, CoinDCX auto trading Bot. This Bot follows the auto Signals and trades as per take profit and stop loss automatically. The Bot also has a special feature of making spontaneous trades, these are the trades which are made by the Bot according to the Trend of the market. It is all automatic without any manual intervention

In Brief

The Treasury seeks feedback from the industry stakeholders for crypto regulations.

The proposal is the second phase of the government’s phased approach to regulating cryptocurrencies.

It has received positive feedback from the community, with Binance welcoming the decision.

The U.K. has announced its long-awaited report on crypto regulations and is seeking consultations from market participants and industry experts before taking them to the next stage.

The crypto regulations from the United Kingdom are much anticipated after Prime Minister Rishi Sunak expressed his plans to make the nation a global crypto hub. Last Dec, the Treasury laid out plans for establishing a regulatory environment for stablecoin payments.

Early last month, the U.K.’s National Crime Agency announced a special unit to tackle crypto crimes. They were also looking to hire blockchain experts for their new crypto unit. Despite these small steps toward crypto regulations, the government also faced criticism from former Finance Minister – Philip Hammond.

Today, the government announced the next step for regulating cryptocurrency by seeking feedback from industry stakeholders.

UK Crypto Regulation Proposal

The government believes cryptocurrency and its activities should follow the same standards as other financial services. The consultation proposal is the second phase of the government’s phased approach to regulating cryptocurrency.

In light of last year’s FTX collapse, the government has drafted rules to limit prevent history repeating, such as co-mingling of users’ funds with the firm’s funds. 

The proposal reads: “These provisions aim to protect investors’ rights to their assets while a firm is a going concern such that, if and when a custodian becomes insolvent, assets are returned to investors promptly and as whole as possible.”

The consultation will close on Apr. 30.

The Community Reacts Positively to the Proposal

Binance, the largest cryptocurrency exchange, has vocally expressed its support for HM Treasury’s proposals for the UK crypto regulations. The team further tweeted that they are looking forward to contributing after reviewing the details.

 The community members have largely supported the proposal so far and found it “promising.”