In the speech in question, Queen Elizabeth stressed that there will be bills that will allow a comprehensive approach to the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets sector, with special emphasis on crime prevention.
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Queen Elizabeth’s annual address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. to the residents of the United Kingdom, read before the English parliament by Prince Charles, contemplated among the regulatory objectives for 2022 to place greater emphasis on the sector of digital currencies and cryptoassets, so that some contemplated bills will have this ecosystem in their sights.
Increased emphasis on the digital currencies space
This was made clear by Queen Elizabeth in her speech, where she hinted at the possibility of a more comprehensive regulation of the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. sector starting this year. The message referred to a total of 38 bills awaiting approval before the end of 2022, including digital currencies, among proposals aimed at the area of security, justice, infrastructure, education and other topics.
Regarding cryptocurrencies, it seems that the approach the UK will take is particularly focused on the illegal use of these assets for various purposes, to which Prince Charles read the following:
“A bill will be introduced to further strengthen powers to tackle illicit finance, reduce crime of an economic nature and help businesses to grow. Measures will be introduced to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. the security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. services and help them protect the UK.”
In this regard, the bill to which he referred, which is that of theMercados Digitales, will further empower regulatory agencies to more accurately address crimes and malpractices in the cryptocurrency space. It envisages some plans and strategies, with which to establish new competition rules for these sectors, setting the course for companies operating in this space.
It is worth noting that the draft did not mention cryptocurrencies, but for analysts and economists who follow the issue closely, the emphasis will be especially placed on these assets, given that it is a sector with a large amount of capital capital is most commonly defined as the large sum of money you would use to invest. that has experienced significant growth in recent years.
Regulators have been moving forward in the United Kingdom
While Queen Elizabeth’s words confirm that there will be greater monitoring of the sector, regulators have been more actively approaching projects within this space.
One of the organizations that has given more to talk about is the Advertising Standards Authority (ASA) which banned several projects and companies from advertising their products and services as “misleading to consumers”. It is expected that the regulator will continue on this path and further tighten the regulations applicable to these cases.
Another organization that is also making efforts is the Financial Conduct Authority (FCA), which has some time addressing specific cases, highlighting recently by the position that holds hand in hand with the sanctions imposed on Russia, where exchanges and crypto companies were asked to take these regulations.
For their part, UK authorities recently warned the country’s crypto-users to be very careful with the handling of their mobile phones, as these are prime targets for criminals interested in stealing digital coins from potential victims.
- UK police warn: Criminals steal mobile phones to get their hands on victims’ cryptocurrencies
- Robinhood moves ahead with expansion into Europe, announces purchase of UK-based Ziglu
- UK government to launch NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. as part of new crypto-friendly strategy
Source: Gov.uk , Beincrypto
Version by Angel Di Matteo / DiarioBitcoin
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