Tag: United Kingdom

The proposed regulatory changes seek to simplify how DeFi returns are taxed and reduce the “administrative burden” for taxpayers. The tax treatment of lending and borrowing on decentralized finance (DeFi) protocols could soon be changed in the United Kingdom as the taxation arm of the Treasury is seeking input on a possible new regime. An…

The Financial Conduct Authority wants input from crypto companies on moving forward with regulations. The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), wants to work together with crypto companies to develop a regulatory framework for the industry. On April 25, FCA Executive Director Sarah Pritchard spoke at London’s City Week conference highlighting the need for cooperation…

Challenges for crypto companies range from having applications rejected, accounts frozen, to being overwhelmed with paperwork. Crypto companies are facing difficulties accessing banking services in the United Kingdom, according to multiple sources interviewed by Bloomberg. The few banks still working with crypto firms are requesting more documentation and information about how they monitor clients’ transactions. Challenges include…

The focus on crypto regulation was part of the U.K. government’s plan to fight economic crime, which also included addressing law enforcement’s ability to seize and store assets. The government of the United Kingdom has laid out plans to step up regulation of crypto assets in its efforts to respond to economic crime in the…

ETH worth over $101 million had been returned to the lending protocol as of March 25. The exploiter still controls part of the stolen assets. The hacker behind the $196 million exploit on lending protocol Euler Finance has returned the majority of the stolen assets, according to on-chain data. In a transaction on March 25, the exploiter…

Events surrounding Silicon Valley Bank are moving fast. Here is a breakdown of the major developments over the last week. The sudden collapse of Silicon Valley Bank (SVB) has quickly unfolded over the last week, depegging stablecoins, leading regulators in the United States and the United Kingdom to prepare emergency plans and raising fears among…