UK
UK NFT Project Dropped Over Lack of Demand: Finance Minister
The U.K. government has decided to drop the highly anticipated non-fungible token (NFT) project initially announced last April, citing a lack of demand for an NFT issued by the Royal Mint, Finance Minister Jeremy Hunt said in a Treasury Committee meeting on Wednesday. "The Hash" panel discusses what this suggests about the state of the NFT markets.
UK NFT Dropped Over Lack of Demand, Finance Minister Hunt Says
The Royal Mint was asked to create a digital token last year, when NFTs were much more popular.
What the Bank of England’s Stablecoins Regime Could Look Like
The Bank of England's upcoming crypto regime would try to ensure that funds are returned to customers when certain crypto firms enter a crisis.
UK Crypto Promotions Laws Hoped to Be in Place by Late 2023
The Financial Services and Markets Act amendment, which would enable the new rules, will soon be discussed in Parliament.
UK Treasury Cancels Plans for Government-Backed NFT
Initially proposed in April 2022, the Royal Mint's plans for an NFT are not moving forward “at this time” but the proposal will remain under review.
The UK Has Created Crypto Banking Problems
U.K. lobbying groups and lawmakers have been complaining that crypto clients can’t find a bank and are faced with restrictions, so they are calling the government to act.
UK Crypto White List Needed to Solve 'Debanking,' Lobby Group Says
British banks have said they keep customers away from crypto for their own protection.
UK to Add Crypto Declaration in Tax Forms
Taxpayers will have to record their crypto gains separately as of next year, the U.K. Treasury said.
UK Bank NatWest Limits Daily Crypto Payments to $1,200
Customers will be limited to payments of 1,000 pounds ($1,218) per day and 5,000 pounds ($6,090) over a 30-day period.
Binance GBP Funding On-/Off-Ramp to Be Suspended in May
The exchange was notified by its fiat partner that it will no longer provide British pound deposit and withdrawal services.
