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United Kingdom reportedly considers Bitcoin regulations strengthening

As suggested by some cryptocurrency-themed outlets citing the local British media, the authorities of the United Kingdom are at least seriously considering tightening the rules of the game for the local Bitcoin community. For example, those who trade with bitcoins and, of course, other cryptocurrencies will have to tell this the financial supervision bodies and disclose information they would like to know more.

These are only the rumors, one might object. What does the government itself say? Turns out it says things which are suspiciously in line with these rumors:

“I’m not convinced that the regulatory authorities are keeping up to speed. I would be surprised if the committee doesn’t have an inquiry next year. It would be timely to have a proper look at what this means. It may be that we want speed up our use of these kinds of thing in this country, but that makes it all the more important that we don’t have a regulatory lag,” said John Mann, who is a member of the country’s Treasury select committee.

The authorities of Great Britain, this means, are moving towards the “active supervision” model, as the Russian Central Bank once called it when analyzing the world’s cryptocurrency legislation practice. The initial messages about the huge drop of BTC price due to this news from Great Britain did not confirm at all, by the way. At the press time, Bitcoin is $11,420 at Coinmarketcap.

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