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Search resuls for: "British fintech"


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☆ Britain sets out plans to regulate crypto industry in wake of FTX collapse
  + stars: | 2023-02-01 | by ( Ryan Browne | ) www.cnbc.com   time to read: +6 min
In a widely-anticipated industry consultation launched Tuesday, the government proposed a number of measures aimed at bringing regulation of crypto asset businesses in line with that of traditional financial firms. A big theme that emerged in 2022 was the rise of risky loans made between multiple crypto firms and a lack of due diligence done on the counterparties involved in those transactions. The collapse of FTX has added urgency to global regulators' attempts to govern the regulation-averse crypto space. The regulatory move comes as crypto firms in both the U.K. and beyond are feeling the chill of a deep downturn known as "crypto winter." Global crypto hub ambitionsThe U.K. wants to become a leader in crypto and blockchain technology on the global stage.
☆ Britain's new PM is a fan of crypto. There are hopes he'll give the industry a boost
  + stars: | 2022-11-01 | by ( Ryan Browne | ) www.cnbc.com   time to read: +6 min
Dan Kitwood | Getty ImagesU.K. cryptocurrency firms and investors have high hopes that new prime minister Rishi Sunak could turn around Britain's fading crypto aspirations. Crypto isn't exactly high up on his priority list, but industry insiders say there's reason to be optimistic. Before Sunak's appointment as PM, confidence in the U.K.'s position in the global crypto market had been waning. In a survey of 300 British fintech founders, only 9% believe it's leading the way on crypto. Yet the U.K. is home to a fairly active crypto market.
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