Ian Taylor News

Goldman Sachs has named Aaron Lamshed as its head of equity capital markets in Australia and New Zealand, as Ian Taylor swaps investment banking for a C-suite role at his client APM Human Services.

Following a 10-month inquiry, the Aall Party Parliamentary Group (APPG) has made a total of 53 recommendations on a number of key areas, warning that the UK has a finite window of 12-18 months to ensure early leadership on cryptocurrency regulation. The report looks into the the role and current approach of UK regulators including the Bank of England, the FCA and the ASA, the potential offered by Central Bank Digital Currencies and the risks faced in terms of consumer protection and economic crime. The lawmakers contend that cryptocurrency and digital assets are best regulated within existing and new financial services regulations, but state "significant concerns" about whether regulators currently have the resources, capacity and technical expertise required to deliver on their responsibilities. The APPG recommends that all UK regulators related to the sector should have dedicated and properly resourced cryptocurrency and digital assets units, states the report. To ensure a coordinated approach across all policy areas, the Government should also consider the appointment of a ‘Crypto Tsar’ who can help coordinate across departments to ensure a consistent approach.

Following a 10-month inquiry, the Aall Party Parliamentary Group (APPG) has made a total of 53 recommendations on a number of key areas, warning that the UK has a finite window of 12-18 months to ensure early leadership on cryptocurrency regulation. The report looks into the the role and current approach of UK regulators including the Bank of England, the FCA and the ASA, the potential offered by Central Bank Digital Currencies and the risks faced in terms of consumer protection and economic crime. The lawmakers contend that cryptocurrency and digital assets are best regulated within existing and new financial services regulations, but state "significant concerns" about whether regulators currently have the resources, capacity and technical expertise required to deliver on their responsibilities. The APPG recommends that all UK regulators related to the sector should have dedicated and properly resourced cryptocurrency and digital assets units, states the report. To ensure a coordinated approach across all policy areas, the Government should also consider the appointment of a ‘Crypto Tsar’ who can help coordinate across departments to ensure a consistent approach.

The UK central bank wants to create a team of up to 30 people to oversee the project, according to a report by the Times. “A team of 30 seems like quite a significant resource to focus on the digital pound,” Ian Taylor, an adviser to the trade association CryptoUK, told the Times. “It shows the impact it would have, and that the bank are serious about it.” The Bank in late March posted openings for a digital pound solution architect "to explore the technology design and architecture options for a potential retail CBDC", and a digital pound security architect, whose role will be "to explore and develop secure technology design and architecture options for a potential retail CBDC". The job ads state: "HM Treasury and the Bank of England have recently issued a Consultation Paper setting out an assessment of the motivations and design choices for a potential digital pound, alongside a Technology Working Paper which outlines our emerging thinking on CBDC technology. These papers signal that our work will now move onto a design phase, which will look at the technology and policy requirements for a digital pound." In February, Bank of England deputy governor Jon Cunlifffe told a committee of MPs that a digital pound has a better than 50/50 chance of coming to fruition. “These are big projects… this would be a very serious thing that would have to be resilient, fraud-proof, secure," Cunliffe said. “If we just wait until we say OK now we think it's needed, we will be five years behind.”

The European Union has passed its landmark Markets in Crypto Assets regulation, in a move experts say will pile pressure on UK and US watchdogs.

The UK central bank wants to create a team of up to 30 people to oversee the project, according to a report by the Times. “A team of 30 seems like quite a significant resource to focus on the digital pound,” Ian Taylor, an adviser to the trade association CryptoUK, told the Times.

When Liz Truss stepped down as prime minister last week, crypto firms were worried it could further undermine Britain’s plans to become a so-called “crypto hub”. That ambition was announced six months ago. It feels like a lifetime.

The cross party group, chaired by Dr Lisa Cameron MP, which is made up of MPs and Lords including the likes of former Digital Minister Lord Vaizey, member of the Treasury Select Committee Harriett Baldwin MP, and former Secretary of State Matt Hancock MP acts as a forum for parliamentarians, policymakers and the UK crypto sector to discuss policy and regulation of the industry.The terms of the inquiry are expansive, assessing the role of Government and regulators, consumer protection issues and the use of central bank digital currencies.The APPG inquiry comes at a time of increased scrutiny of the UK crypto and digital asset sector. HM Treasury announced plans earlier this year to make the UK the global home of crypto investment, seeking to attract crypto firms to the UK and to boost the nation's technology and fintech sector.

Her Majesty’s Revenue and Customs (HMRC), the U.K.’s tax agency, on Wednesday, has released a controversial set of guidance that could affect innovation in Decentralized Finance (DeFi).

Lisa Cameron, a member of parliament for the United Kingdom’s House of Commons, is reportedly chairing a lobbying group aimed at promoting crypto-related legislation in government.