Cryptocurrency industry becomes less decentralized and anonymous and more regulated and controlled. Government authorities require crypto exchanges to disclose transaction data of their customers. And the exchanges seem to be quite collaborative in these terms.
These days, the banking industry is calling on their users to use digital banking payments instead of cash. According to research, some of the more economically developed countries, like Sweden and UK, will move to a cashless society by 2020. However, why are banks so eager to call on their customers to stop using cash?
The UK Finance Conduct Authority researched the country’s cryptocurrency market to understand the citizen’s attitude towards digital assets. Curiously enough is that they do it right before the registration deadline set for companies dealing with cryptocurrency.
The upcoming US free trade talks have provided an opportunity for the UK’s Department for International Trade (DIT) to negotiate provisions for digital trade, which underpins the UK economy and is vital to both service and goods exporting businesses.
The UK Financial Conduct Authority (FCA) recently issued well-filtered recommendations to the public especially the investors not to participate in cryptocurrency investments related to Covid19 through an official website.
Leaders from the seven most powerful world economies want to fully explore Bitcoin to its maximum potential. The G7 recently released a report on cryptocurrency investigating the effects of global stable coins. The G7 which includes the US, UK, Germany, Italy, Japan, France, and Canada also has leading hubs for cryptocurrency and blockchain projects.