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The rule will allow the Financial Conduct Authority (FCA) to regulate crypto companies under the existing promotions law, and should help safeguard consumers from misleading crypto promotions, the Treasury, the government's finance arm, tweeted in March. Source
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Fraud makes up over 40% of crime in the country, and costs the U.K. government £7 billion ($8.8 billion) a year, U.K. Prime Minister Rishi Sunak said in the statement. The country wants to crack down on fraud and scams, and is setting up a National Fraud Squad to tackle
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Economist Paul Krugman questioned why Republican Florida governor Ron DeSantis opposes a central bank digital currency (CBDC) in a recent opinion editorial. Krugman suggested that DeSantis may be motivated by “general paranoia.” He speculated that DeSantis may be influenced by individuals who fear a digital currency could hinder “un-woke activities
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Tech entrepreneur, angel investor, and author of The Network State, Balaji Srinivasan, says a proverbial “giant robot” of supportive governing bodies and crypto proponents is needed to do battle with the “giant monster” of the U.S. federal government. The former CTO of Coinbase also said he will issue an update
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Warnings continue to pervade market and financial news this week, with Monica Crowley, former assistant secretary for public affairs for the U.S. Department of the Treasury, indicating “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. In related news, billionaire Bill Ackman warned that the
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At one level, his concerns are partly understandable. Depending on how it is technically designed and legally regulated, a consumer-facing CBDC could potentially amass and store large volumes of personal information about individuals’ daily purchases and movements. Domestically, groups including the American Civil Liberties Union have repeatedly stressed the importance
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Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of central bank digital currency (CBDC) as money in his state. “The Biden administration’s efforts to inject a centralized bank digital currency is about surveillance and control,” the governor warned. Governor Ron DeSantis Proposes
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Ron DeSantis, the Governor of Florida expected by many to throw his hat into the ring for the 2024 United States presidential race, has called for a ban on a digital dollar.Standing in front of a podium bearing the line “Big Brother’s Digital Dollar” at a March 20 press conference, DeSantis
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Kristi Noem, the governor of South Dakota, has used her authority to veto legislation aimed at changing the definition of money to exclude cryptocurrencies.In a March 9 notice to South Dakota house speaker Hugh Bartels, Noem said she had vetoed House Bill 1193, which proposed amending the state’s Uniform Commercial
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Chris Sununu, the governor of New Hampshire, has released the results of an investigation from a commission aimed at recommending legislation around digital assets and blockchain as part of a 2022 executive order.In a Jan. 19 announcement, Sununu said the Commission on Cryptocurrencies and Digital Assets had reported the legal
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