{"id":5728,"date":"2022-07-18T03:13:14","date_gmt":"2022-07-18T03:13:14","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=5728"},"modified":"2022-07-18T03:13:15","modified_gmt":"2022-07-18T03:13:15","slug":"us-and-uk-to-deepen-ties-on-crypto-regulation-says-british-regulator","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=5728","title":{"rendered":"US and UK to Deepen Ties on Crypto Regulation, Says British Regulator"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong> Britain\u2019s top financial regulator, the Financial Conduct Authority (FCA), says the U.S. and U.K. will deepen ties on crypto regulation. \u201cIn the past, innovative firms would have been pleading for less regulation. Now they understand and appreciate that rules are there to help provide certainty,\u201d said the British regulator.<br \/><\/strong><\/p>\n<h2>US and US to Strengthen Collaboration on Crypto Regulation<\/h2>\n<p>The U.K. Financial Conduct Authority\u2019s chief executive, Nikhil Rathi, outlined the FCA\u2019s regulatory goals Wednesday at Peterson Institute for International Economics.<\/p>\n<p>\u201cOne area of global focus is crypto, both opportunities and risks,\u201d the FCA chief said. \u201cCurrently, our remit is limited to anti-money laundering rules for platforms. We have applied those strict rules as we would to any other firm that wants to operate in the U.K. market.\u201d<\/p>\n<p>The regulator added:<\/p>\n<p>The U.S. and U.K. will deepen ties on crypto-asset regulation and market developments \u2014 including in relation to stablecoins and the exploration of central bank digital currencies.<\/p>\n<p>Rathi proceeded to mention that the FCA held \u201cCryptosprints\u201d earlier this year, which drew nearly 200 participants. \u201cThe objective of the events was to seek industry views around the current market and the design of an appropriate regulatory regime,\u201d the FCA explained on its website.<\/p>\n<p>The chief financial regulator described:<\/p>\n<p>Participants told us they wanted a regulatory regime for cryptoassets as a high priority \u2026 They also want regulation phased in over time, to allow firms and investors to prepare and for the rules to fit the evolving crypto assets.<\/p>\n<p>\u201cIn the past, innovative firms would have been pleading for less regulation. Now they understand and appreciate that rules are there to help provide certainty,\u201d he opined.<\/p>\n<p>The FCA chief noted:<\/p>\n<p>We are demonstrably supporting responsible use cases for the underlying technology while ensuring it is not at the expense of appropriate consumer protection or market integrity.<\/p>\n<p>The U.K. government outlined in May its legislative agenda for the next parliamentary year in the Queen\u2019s Speech. One of the bills aims to support \u201cthe safe adoption of cryptocurrencies and resilient outsourcing to technology providers.\u201d Another aims to create \u201cpowers to more quickly and easily seize and recover crypto assets, which are the principal medium used for ransomware.\u201d<\/p>\n<p>Furthermore, the British government unveiled a detailed plan in April to make the country a global crypto hub and \u201ca hospitable place for crypto.\u201d The plan includes establishing a dynamic regulatory framework for crypto, regulating stablecoins, and working with the Royal Mint to create a non-fungible token (NFT) to be issued by the Summer.<\/p>\n<p><em><strong>What do you think about the U.S. and the U.K. working together on crypto regulation? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/us-and-uk-to-deepen-ties-on-crypto-regulation-says-british-regulator\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Britain\u2019s top financial regulator, the Financial Conduct Authority (FCA), says the U.S. and U.K. will deepen ties on crypto regulation. \u201cIn the past, innovative firms would have been pleading for less regulation. Now they understand and appreciate that rules are there to help provide certainty,\u201d said the British regulator. US and US to Strengthen Collaboration [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-5728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/5728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5728"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/5728\/revisions"}],"predecessor-version":[{"id":5730,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/5728\/revisions\/5730"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/5729"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}