🇬🇧📝 UK Treasury Secretary Andrew Griffith has sent a letter to the Financial Conduct Authority (FCA) requesting clearer and more flexible cryptocurrency marketing regulations, expressing concerns about the broadness of current regulation and lack of final guidance for crypto firms. #UKCrypto #Regulations 📈🗂

🔍📋 UK crypto firms struggle with compliance, as BeInCrypto reports a SmartSearch study. 🇬🇧💼 Only 17% consistently meet customer verification requirements. Majority don't cross-check sanctioned or politically significant persons (PEPs) and new customer lists. Martin Cheek of SmartSearch emphasizes the challenge of compliance, urging stricter research on customers. ⚖️🛡️ Staying compliant is crucial in the evolving crypto landscape. #CryptoCompliance #UKCrypto #BitcoinWorld

🇬🇧 UK Chancellor Jeremy Hunt expresses readiness to address banking challenges faced by UK cryptocurrency firms and discuss solutions with lawmakers. Emphasizes the importance of responsible growth in the global cryptocurrency hub of London through necessary regulations and stablecoin rules. 🏦💼🌐 #UKCrypto #RegulationDiscussion

NiceHash, a cloud-based cryptocurrency mining platform, has informed its users via email that it will cease providing services in the United Kingdom (UK) starting from October 10th (local time). After this date, UK users will be unable to create new accounts, and certain functions like fund transactions, deposits, and withdrawals will be restricted.
NiceHash attributes the decision to discontinue UK services to changes in the regulatory environment within the country. The move comes in response to forthcoming regulations from the UK's Financial Conduct Authority (FCA) regarding the advertising and promotion of cryptocurrency services, set to go into effect in October.
NiceHash has expressed its intention to resume services in the UK as soon as possible, but this will likely depend on regulatory developments and compliance with the new rules established by the FCA. The cryptocurrency industry is continually evolving, with regulatory changes impacting various aspects of the sector in different regions around the world. 🇬🇧💼 #NiceHash #CryptocurrencyRegulation #UKCrypto

🇬🇧 Gemini will restrict cryptocurrency transfers to UK crypto service providers registered with TRUST from Nov 17, complying with UK travel rules. In December, they plan to restrict crypto receipts from non-TRUST registered firms. 🔒🚀 #Gemini #CryptoRegulation #UKCrypto

UK government abolishes centuries-old tax breaks for the rich in preelection budget announcements

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Former British finance minister Philip Hammond said it would be a mistake not to have a system in place that encourages so-called “non-doms” to reside in the U.K.

Non-domiciled tax status allows people who are based, but not settled, in the country to only pay U.K. tax on money made in the country. As part of the Spring Budget statement, U.K. Finance Minister Jeremy Hunt said on Wednesday that this would be scrapped and replaced with a new system.

Uk 🇬🇧 y’all stay safe and make sure your digital assets are always on non custodial wallet.

#Write2Earn‬ #UKCrypto #BinanceSqaure #SHIBA_INU