UK government Financial News

04.09 / 13:55

regulation UK government OpenAI The UK releases key ambitions for global AI summit

The United Kingdom released its five “ambitions” for its global artificial intelligence (AI) safety summit on Sep. 4, with a big focus on risks and policy to support the technology.

24.08 / 08:33

business Government regulation Scams UK government Cold Calls UK considers blanket ban on crypto investment cold calls

As the United Kingdom prepares for a ban on finance-related cold calls, the UK Treasury issued a consultation and call for evidence to gauge a full picture of the impact on businesses, or the costs associated with introducing and implementing the ban.

21.08 / 03:03

Government NVIDIA UK government GPU Power UK to spend $130M on AI chips amid scramble to buy up computing power

British Prime Minister Rishi Sunak is set to spend $130 million (100 million pounds) to buy thousands of computer chips to power artificial intelligence, amid a global shortage and race for computing power.

25.07 / 11:05

UK UK government Costs UK faces highest debt interest costs in developed world

Inflation index-linked debt accounted for almost 25% of UK government debt stock in 2023.

21.07 / 06:09

business regulation banking UK government Customers UK banks risk losing licenses for debanking customers over political views

The British government is reportedly set to announce measures that could see banks stripped of their license if they choose to debank customers due to their political views.

11.07 / 11:59

business regulation UK government Financial Services ATM UK FCA shuts down 26 crypto ATMs following coordinated investigation

The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), “disrupted” 26 of the 34 cryptocurrency ATMs it visited and inspected since the start of 2023.

06.07 / 22:49

Adoption security Tokens DLT UK government Future Financial Gaining speed on tokenization is vital for UK’s financial future, banking group warns

Advocacy group UK Finance is urging the British government to encourage securities tokenization. The market is small now, but the future stakes are high, it said.

05.07 / 09:41

Law Adoption regulation UK government Bitcoin Clarity needed on crypto lending regulations — UK Law Commission

A lawyer leading the United Kingdom’s Law Commission’s review on the application of British laws towards digital assets has stressed the need for further clarity around cryptocurrency lending.

03.07 / 14:15

Law regulation Bank of England UK government UK Law Commission recommends 'distinct' legal category for crypto

The United Kingdom’s Law Commission is pushing for the creation of a ‘distinct’ category of personal property to accommodate and protect unique features of cryptocurrencies and digital assets.

19.06 / 19:59

Government regulation Bitcoin Regulation UK government Financial UK government moves forward on financial markets bill for potential regulation of crypto

Lawmakers in the upper house of the Parliament of the United Kingdom are moving forward with legislation that could help support the adoption of crypto in the country.

19.06 / 06:05

Blockchain CBDC Adoption Bank of England UK government ‘Britcoin’ launch inches closer after Project Rosalind CBDC tests

The Bank of England (BoE) is a step closer to launching its central bank digital currency (CBDC) dubbed “Britcoin” following the conclusion of a trial study called Project Rosalind.

12.06 / 16:43

business regulation Machine Learning UK government London UK to get ‘early or priority access’ to AI models from Google and OpenAI

British Prime Minister Rishi Sunak recently announced that Google DeepMind, OpenAI, and Anthropic — three tech outfits widely considered the global industry leaders in generative AI technologies — have agreed to provide the United Kingdom with early access to their AI models.

06.06 / 17:01

Government Technology regulation UK government Power Nuclear power AI should be regulated like medicine and nuclear power: UK minister

Developers working on artificial intelligence should be licensed and regulated similarly to the pharmaceutical, medical, or nuclear industries, according to a representative for Britain’s opposing political party.

06.06 / 16:09

business regulation UK government ChatGPT AI could threaten humanity in 2 years, warns UK AI task force advisor

The AI task force advisor to the prime minister in the United Kingdom said humans have roughly two years to control and regulate artificial intelligence (AI) before it becomes too powerful.

30.05 / 12:27

Government Law regulation Europe European Union Opinion UK government The EU is watching your wallet, but it still beats the US for crypto

Millions of American television viewers, including those watching the NBA Finals, will soon see a new national ad campaign run by Coinbase. Titled “Moving America Forward,” the campaign is focused on explaining crypto and illustrating how it can help “update the system.” The ads add to the increasing pressure the company is putting on the United States Securities and Exchange Commission for clarity on digital assets. But no company can operate without a backup plan, which explains why Coinbase also secured a license in Bermuda in April to operate an offshore exchange.

18.05 / 05:51

regulation Kraken Gambling UK government lawmaker Kraken, UK trade body derides lawmaker description of crypto as 'gambling'

Self-regulatory organization CryptoUK and crypto exchange Kraken UK has slammed a recent report from a panel of British lawmakers that suggested crypto should be regulated in a similar vein to gambling.

17.05 / 03:07

Blockchain regulation Trading Gambling UK government Bitcoin lawmakers Crypto retail trading should be regulated as gambling: UK lawmakers

The trading of so-called “unbacked cryptoassets” such as Bitcoin (BTC) and Ether (ETH) should be regulated as gambling rather than a financial service, a panel of British lawmakers said in a new report.

11.05 / 10:27

Blockchain regulation SEC UK government U.S. Binance looks to the UK for regulation amid US crypto crackdown

Crypto exchange Binance has acknowledged that a crackdown on cryptocurrencies has made it challenging to conduct business in the United States, and it is now looking to be regulated in the United Kingdom.

10.05 / 22:45

Law regulation Europe European Union Bitcoin Regulation UK government 3 takeaways from the European Union's MiCA regulations

The European Union has become the first major jurisdiction to pass a comprehensive crypto law, the Markets in Crypto-Assets (MiCA) regulation, which aims to provide legal certainty for the crypto industry and investors by establishing standard regulations and harmonized rules at the EU level.

04.05 / 11:19

regulation UK government ChatGPT UK reviews AI development: It can ‘drive substantial economic growth’

The United Kingdom’s Competition and Markets Authority (CMA) has officially stepped onto the artificial intelligence (AI) scene after it announced an examination of the impact of the technology on consumers and the economy.

03.05 / 07:49

Technology Adoption regulation Scams crimes UK government Cold Calls UK government targets fraudsters with new ban on cold calls for crypto

The United Kingdom is set to ban cold calls that sell financial products, including insurance and cryptocurrencies, in an attempt to crack down on fraud. It is estimated that fraud costs the country approximately £7 billion ($8.7 billion) annually.

UK government Financial News

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