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The UK’s aggressive stance on crypto could redefine the UK’s crypto market, but will innovation pay the price? The FCA’s tight grip on crypto ads and the BoE’s stablecoin oversight mark a major shift in the UK’s digital currency landscape. What’s happening? The UK is tightening its regulatory grip on the cryptocurrency market with a dual focus: ensuring that the marketing of crypto assets is responsible and that stablecoins, when used as a form of payment, are robustly regulated.  The Financial Conduct Authority (FCA) has recently introduced stringent rules for firms marketing crypto assets. These rules include mandating a specific cooling-off period for new investors to contemplate their decisions, banning “refer a friend” bonuses, and requiring clear risk warnings in advertisements.  Concurrently, the Bank of England (BoE) is spearheading legislative proposals to regulate stablecoins, aiming to secure financial stability and consumer...

Crypto services in the U.K. will face stricter regulations, including a “cooling-off period” for first-time investors and a ban on “refer a friend” bonuses. In a June 8 announcement, the United Kingdom’s Financial Conduct Authority (FCA) said that from Oct. 8, advertisers of crypto services in the U.K. would be subjected to stricter regulations. The U.K. watchdog has mandated that crypto companies in the U.K. implement a "cooling-off period" for first-time investors. Additionally, as part of measures to enhance investor awareness of risks, the FCA has prohibited the use of " refer a friend" bonuses by firms in the sector. Sheldon Mills, Executive Director of Consumers and Competition, stated in the written statement that while the decision to purchase crypto lies with individuals, research indicates that many express regret over impulsive choices. The implemented rules aim to provide people with sufficient time and appropriate risk warnings to enable an informe...

A Bitcoin-only policy organization in the United Kingdom seeks to steer a course for greater levels of Bitcoin adoption. God save our gracious coin, long live the coin. A team of entrepreneurs, environmentalists and Bitcoin (BTC) advocates have assembled to back Bitcoin in Britain. The Bitcoin Policy U.K. (BPUK) unites stakeholders, policymakers, environmentalists, tax specialists, Bitcoin experts and miners to “Unlock the potential of Bitcoin” in Britain, and explore how the decentralized currency’s burgeoning industry could benefit U.K. households, businesses, and communities. The BPUK’s primary objectives are to drive investment, both generate and prepare students for the Bitcoin jobs of the future, raise awareness and education , while also exploring the use of wasted and stranded energy resources for Bitcoin mining. Head of policy, Freddie New, told Cointelegraph that “The genesis of this project was the Bitcoin Collective Conference in Edinburgh.” The Bitcoin Collective confere...