CryptoUK

#CryptoUK and its Regulatory Working Group is pleased to have submitted a response to the #HouseOfLords Financial Services Regulation Committee's Call for Evidence on the #FCA and #PRA's secondary competitiveness and growth objective. Read the full response 👉 https://buff.ly/3VbJteX We offered six key areas for improvement: 💬 Improve engagement and communication with the #crypto and #digitalassets industry specifically on the secondary objective. In the newly published FCA Crypto Roadmap, issued on 26 November 2024, there are no indicators of a focus on the secondary objective. We also would encourage the Committee to ask for clear milestones from the FCA for the secondary objective within their roadmap, with an emphasis on consulting with the industry. 📈 Provide different and better metrics and KPIs by which to effectively measure the regulators’ performance against the secondary objective. ⬆️ Upskill regulator teams on two dimensions (potentially via secondments). First, greater expertise related to crypto and digital assets transactions, as well as to the industry itself. Second, improved knowledge around how commercial entities operate, innovate, navigate economic and regulatory changes or uncertainty, and become globally competitive. 💷 Design a fee and authorisation structure that is calibrated appropriately for size, maturity, and risk profile of the company. 🤝 Work closely with the newly-formed Regulatory Innovation Office (“RIO”) to ensure the secondary objective is met for this industry, which requires an expansion of the sector list of the RIO. 🌐 Learn from other global regulators whose approaches have been evidenced to enable growth and international competitiveness. Want to read the full response? Visit our website to read it online or download the PDF version 👉 https://buff.ly/3VbJteX ... #UK #Britain #Cryptocurrency #Blockchain #DLT #Fintech #DigitalCurrencies #DigitalMoney #Tokenization #SmartContracts #Web3

#CryptoUK are partnering with Brunel University of London, alongside members Qi and Bitstamp, in a research project to explore the advancement of #digitalcurrencies, mainly #cryptocurrency as a #payment method. We'd love to offer you the chance to take part in providing early stage feedback 👉 https://buff.ly/4eNK0L5 With the recent announcements of #Bitcoin rising, there seems to be some ‘normalisation’ of #crypto hitting headlines in a positive light. This will inevitably change the perception of digital currencies, but there is still more work to be done. This research aims to collect valuable insights from a diverse range of stakeholders, including consumers, merchants, technology developers, charities, payment gateways, and corporate institutions. The goal is to reshape perceptions and disseminate the findings through publications, social media, roundtable discussions, and presentations to government bodies and policymakers. We would appreciate the support of our wider community in participating in the research fieldwork. This short questionnaire will help collate initial stages of feedback. Completion of this by as many participants as possible will support the next stages of the research project. You can complete the questionnaire here 👉 https://buff.ly/4eNK0L5 We thank you in advance for supporting this exciting project 🙏 ... #Crypto #FinTech #Blockchain #DLT #Research

We are thrilled to announce that Jump Crypto has joined CryptoUK's flagship institutional member tier, alongside Clifford Chance, CMS UK, Gemini, gunnercooke, KR1 plc, MoonPay, OKX, Ramp Network, Socios.com, Taxbit, Taylor Wessing UK, and Uphold - plus, 100+ other members spanning our Community and Corporate membership tiers. Jump Crypto is a world-class team of builders, partners, innovators, and traders dedicated to unlocking the full potential of #blockchain, #cryptocurrency, and #Web3. They play a critical role in developing key infrastructure within the #crypto ecosystem. As a member of CryptoUK, Jump Crypto will take an active part in shaping the future of crypto and #digitalassets in the #UK. Through our flagship institutional membership tier, they will contribute to existing working groups, lead discussions, explore new topics, and create fresh opportunities both within established and newly formed initiatives. If your organisation is interested in joining CryptoUK, we offer three tiers to cater for companies of all sizes, from startups to global institutions. Visit our membership page to learn more 👉 https://buff.ly/3C52mFW Learn more about Jump Crypto: buff.ly/4i1xI4t Follow them on Linkedin: Jump Crypto ... #CryptoUK #FinTech #Cryptocurrency #DLT #DigitalMoney #DigitalCurrencies #DigitalPayments #SmartContracts #Tokenization

Plenty to do next year folks. Come be part of the discussion at CryptoUK

The #FCA have today released a new statement highlighting the rising number of #crypto holders in the #UK and how it plans to regulate moving forward 👉 https://buff.ly/4g4kxhd We at #CryptoUK are not surprised to see reports of increasing awareness of #cryptocurrency and #digitalasset ownership in the UK given that it has been a high-profile part of many governments' agendas for the last 12 months. We are also pleased to have the overview from the FCA on their approach and roadmap for the UK to move forward with our own regulatory regime, with a clear path and milestones around the approach from the regulators 👉 https://buff.ly/3AYaWK5 The announcements from the FCA, alongside the encouraging commentary from the EST and City Ministers speech last week are at long last signalling the governments intentions in relation to the crypto and digital asset industry and providing some positive endorsements for the future of our sector here in the UK 👉 https://buff.ly/3OqtMg8 We look forward to working closely with our members on reviewing the proposed discussion papers and providing valuable industry insight to the government and regulators to help them move forward at pace to ensure the UK remains in a competitive position. If your organisation is interested in joining more than 100 #CryptoUK members in our effort to foster #cryptocurrency and #blockchain adoption in the UK, we would love to speak with you. We offer membership tiers for organisations of all sizes, from startups to global institutions. Visit our website for a full insight into our member community and the opportunities on offer 👉 https://buff.ly/3C52mFW ... #DigitalAssets #Cryptocurrencies #DLT #Toeknization #FinTech #Bitcoin #BTC #Ethereum #ETH #Solana #SOL #Binance #BNB #Ripple #XRP #Dogecoin #DOGE #Cardano #ADA #Avalanche #AVAX #Tron #TRX #Toncoin #TON #Stellar #XLM #ShibaInu #SHIB

Tulip Siddiq MP, Economic Secretary to the Treasury, delivered a keynote at this year’s City and Financial Global Tokenisation Summit outlining the #UK government’s progressive strategy in embracing #tokenisation and #digitalassets. Her speech underscored the transformative potential of distributed ledger technology (#DLT) and reaffirmed the government’s commitment to positioning the UK as a global hub for digital innovation. Read the highlights 👉 https://buff.ly/4i7DpxF ... #Cryptoassets #Blockchain #Tokenization #Stablecoins #Crypto #CBDCs #DigitalMoney #DigitalCurrencies #Cryptocurrency #FinTech

CryptoUK members Sumsub have issued their expert report on identity fraud and you can register to receive your free copy here: https://lnkd.in/eEg3cbzb In 2024, identity fraud is more accessible than ever, drawing in a growing number of individuals worldwide. With each incident, the stakes rise, raising urgent questions about digital security and trust. How easy is it to commit fraud now? Are we dealing with highly skilled hackers, or could it be someone as familiar as your neighbour? What fuels this surge, and how can we protect ourselves? 

A couple of key announcements for the UK at the City & Financial Global Tokenisation Summit! ⚡️EST Tulip Siddiq confirmed in her keynote address that staking is not a collective investment scheme and will not be treated as such under UK regulation. ⚡️She also highlighted some points from the previous HMT consultation noting that there will be a new regulated activity for issuance and custody of stablecoins (separate to e-money and payments regimes) but that stablecoin provisions will come next year at the same time as the rest of the crypto asset regime. It was reiterated that the full crypto asset regime will published at the same time rather than piecemeal. ⚡️Further updates on both staking and stablecoins to follow in the new year alone with their respective consultations and regulatory/legal provisions. This means likely consultations on these topics in the early new year too. ⚡️She reiterated the new governments commitment to innovation and to supporting the crypto and digital assets industry. The overall tone was positive for the digital finance industry.

Last night saw Chancellor Rachel Reeves deliver her first Mansion House speech setting out reforms and developments in the financial services sector. Amongst the developments was the inclusion of a new pilot to deliver a Digital Gilt Instrument, which will be referred to as DIGIT and use distributed ledger technology (#DLT). Ahead of the speech, UK Finance & EY published a ‘Digital Gilt Roadmap’ setting out the building blocks to support the issuance of a UK digital gilt: https://lnkd.in/ewiYpPa4 Additionally, there was mention of the issuance of new growth-focused remit letters to the UK regulators including the Financial Conduct Authority. These set out clarity to all regulatory bodies that there will be an expectation for them to fully support this government’s ambitions on economic growth. There was an acknowledgment of the work already underway with the FCA and PRA and a welcome of next steps to deliver growth and innovation. We welcome the progressive steps being made by the government and Treasury and support the development of the work to ensure the UK remains a pivotal market for innovation and growth.

#CryptoUK urges a fast-track process for #crypto firms under MLRs to ensure they can stay agile and compliant. Enhanced licensing is the key to unlocking seamless industry participation. Read more in our response to the Bank of England's approach to innovation in #money and #payments discussion paper, published on our website here 👉 https://buff.ly/3Yl6UTL … #BoE #UK #Policy #Regulation #Cryptoassets #Blockchain #DLT #Finance #FinTech #TradFi