What's Hot

    Circle Launches EURC on Stellar Network

    September 28, 2023

    Gemini Allocates $24 Million for Indian Expansion

    September 28, 2023

    Kraken Secures EMI License from Ireland and Spain

    September 28, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      Circle Launches EURC on Stellar Network

      News September 28, 2023
      Recent

      Circle Launches EURC on Stellar Network

      September 28, 2023

      Gemini Allocates $24 Million for Indian Expansion

      September 28, 2023

      Kraken Secures EMI License from Ireland and Spain

      September 28, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»UK House of Lords Nears Approval of Sweeping Crypto Regulation Bill
    News

    UK House of Lords Nears Approval of Sweeping Crypto Regulation Bill

    Anietie DavidBy Anietie DavidSeptember 19, 2023Updated:September 19, 2023No Comments2 Mins Read
    UK House of Lords Nears Approval of Sweeping Crypto Regulation Bill
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The UK House of Lords is on the brink of approving the groundbreaking Economic Crime and Corporate Transparency Bill, a comprehensive piece of legislation aimed at combating illicit cryptocurrency activities and fostering corporate transparency.

    Introduced in September 2022, the bill has navigated a year-long legislative journey, making its way from the House of Commons to the UK House of Lords. As it enters the final stages of approval, key amendments have been incorporated to emphasize its focus on targeting monetary gains originating from fraudulent activities and other financial crimes within the crypto space.

    One of the pivotal aspects of the bill is its commitment to enhancing corporate transparency and regulating overseas business registrations, a move that could potentially reshape the landscape of cryptocurrency operations in the UK.

    UK House of Lords Initiates Critical Legislative Phase and FCA’s Pledge for Crypto Regulation

    In the coming days, the House of Commons will face a crucial decision. It will either accept the proposed amendments from the UK House of Lords or put forward recommendations for further modifications to the bill. Following this pivotal moment, the bill will be subjected to the ultimate step in the legislative process: royal assent, where a monarch formally gives their approval to enact it into law.

    Amidst these legislative developments, the UK’s Financial Conduct Authority (FCA), the nation’s financial regulator, has signaled its readiness to collaborate with cryptocurrency companies. The goal is to create a long-anticipated regulatory framework for the burgeoning crypto industry, which is transitioning from a niche market to mainstream prominence.

    During her address at London’s City Week conference, FCA Executive Director Sarah Pritchard expressed a cooperative spirit, stating, “Let’s work together to shape our rules and regulations to benefit markets, consumers, and firms as crypto goes from niche to mainstream.” 

    Pritchard emphasized that the FCA’s responsibilities will primarily center on ensuring compliance with Anti-Money Laundering and Counter-Terrorist Financing legislation for crypto firms operating within the UK.

    UK Financial Authorities UK Government UK House of Lords
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleCoinEx Exchange Negotiates with Lazarus Group After $70 Million Crypto Hack
    Next Article Balancer Faces Second Attack in Less Than a Month, $238K in Crypto Stolen
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    Circle Launches EURC on Stellar Network

    September 28, 2023

    Gemini Allocates $24 Million for Indian Expansion

    September 28, 2023

    Kraken Secures EMI License from Ireland and Spain

    September 28, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    Hong Kong Monetary Authority (HKMA) Issues Warning on Misleading Crypto Banking Claims

    September 18, 2023

    Report Shows that 99% of Nigerians are Crypto Aware

    September 4, 2023

    Hong Kong Report Reveals Positive Impact of Bond Tokenization on Market

    August 26, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.