Crypto assets to be classified as property in the UK
The Jurisdiction Taskforce of the Lawtech Delivery Panel in the United Kingdom has published new guidance designed to minimize the legal ambiguity and uncertainty surrounding digital assets.
UK’s Financial Conduct Authority will not regulate Bitcoin and Ethereum
The UK’s financial regulator, the Financial Conduct Authority says it will not regulate Bitcoin or Ethereum - viewing them as ‘decentralized tokens used as a means of exchange’ and therefore outside its regulatory scope.
Cryptoassets Taskforce: final report
This report provides an overview of cryptoassets and the underlying technology, assesses the associated risks and potential benefits, and sets out the path forward with respect to regulation in the UK.
According to study, only 5 percent of British crypto investors realise profit
Despite the rags to riches tales of bitcoin millionaires, the experience of the average crypto investor is very different—at least according to one UK investment survey.
What does the FCA think about blockchain?
In mid-December 2017, the UK’s Financial Conduct Authority (FCA) published a really interesting 32-page paper on Distributed Ledger Technology (DLT). The timing wasn’t great as most of the City was out getting smashed at Christmas parties, so I thought it best to put it aside until the New Year hangovers were out of the way and share it with you now.
UK’s Royal Mint to sell digital gold
The UK’s Royal Mint (TRM) and CME Group recently announced that AlphaPoint and BitGo are helping develop a trading platform for a new blockchain based product, Royal Mint Gold.
Does digital identity need blockchain technology?
GOV.UK Verify's technical architect Adam Cooper shares his thoughts on whether services like GOV.UK Verify should be making use of blockchain technology.
House of Lords told Bank of England’s digital currency is ‘some way off’
Earlier today in the Palace of Westminster, the 13-member Economic Affairs Committee of the United Kingdom's House of Lords took evidence from the Bank of England (BoE), academia, and industry experts during a “one-off inquiry into distributed ledger or blockchain technology.”
Credits and Skyscape partner to provide Blockchain-as-a-Service to the UK Public Sector
Founded in November 2014, by Nick Williamson and Eric Benz, Credits is a Blockchain Software as a Service (SaaS) initiative from the Isle of Man, with an office in Lodon. Williamson also founded Manx startup Pythia, the parent company building Credits. Credits began offering the Platform-as-a-Service (PaaS) tools, for building secure and scalable blockchains, on April 6. The Level39 member launched the public beta version of their PaaS at Money 20/20.
UK Government awards £250k grant to develop blockchain foreign exchange prototype
Innovate UK works with companies to de-risk, enable, and support innovation. Incorporated by Royal Charter in February 2007, Innovate UK was originally established as the “Technology Strategy Board,” which is still the organization's legal name. The organization has committed over £1.8 billion to innovation, and has helped more than 7,600 organizations with projects since 2007. They estimate adding between £11.5 billion and £13.1 billion to the UK economy, creating 55,000 extra new jobs. Earlier this month, Innovate UK announced it will invest a further £561 million in UK-based disruptive businesses.
UK Cabinet Minister, Rt Hon Matt Hancock, spearheads government blockchain adoption
The Imperial College of London's Centre for Cryptocurrency Research and Engineering and Digital Catapult ran a policy hack day for UK government representatives on the 26th April, in order to help government officials identify possible applications of blockchain technology in public service delivery. The event was attended by representatives from policy, academia and government, with in-depth discussions around how and when blockchain could be applied in a broad variety of government use cases.
In brief: The brexit effect and FinTech
Communities across Britain are weighing whether or not to depart from the European Union (EU), knowing it will disrupt, among other items, trade agreements and potentially the UK’s position as a hub for FinTech innovation. The “Brexit” referendum has been a subject of thought since 2013, when Britain’s Prime Minister David Cameron pledged that a Tory re-election, in 2015, would lead to a renegotiation of Britain’s EU membership.
ICAP’s test shows blockchains could significantly transform the post trade landscape
[ICAP plc](http://www.icap.com), announced today that its Post Trade Risk and Information (PTRI) division has “successfully completed a proof of technology test case using blockchain technology.” A UK-based post trade risk services provider,, ICAP operates in all the world’s major financial centers, with more than 70 locations in 32 countries. In the year ending March 31, 2015, the company reported total revenue of £1.27 billion from its three divisions; Global Broking, Electronic Markets, and PTRI.
Ruling clarifies bitcoin taxation across Europe, while individual countries still struggle
Taxing the transfer of bitcoin makes the digital currency expensive to use. A new ruling from one of Europe's highest courts clarifies that bitcoin transfers should not be liable to Value Added Tax.
UK national risk assessment of money laundering and terrorist financing
This is the UK's first money laundering and terrorist financing national risk assessment (NRA). In conducting this assessment the aim is to identify, understand and assess the money laundering and terrorist financing risks faced by the UK.
UK Government Commits £10 Million to Digital Currency Research
The UK government has confirmed the funding for research into digital currencies, including bitcoin. The UK has made it a priority to become a leader in the FinTech sector, and would consider regulating digital currency only to benefit its economy, businesses and customers.
