Fun

News Feed - 2023-08-24 05:08:45

Arijit Sarkar34 minutes agoUK considers blanket ban on crypto investment cold callsThe U.K. Treasury has released a consultation paper to understand the grassroots-level impact of a blanket ban on cold calls related to financial services and products.398 Total views2 Total sharesListen to article 0:00NewsJoin us on social networksAs the United Kingdom prepares for a ban on finance-related cold calls, His Majesty’s Treasury has issued a consultation paper, and it is calling for evidence to gauge the full impact on businesses and the costs associated with introducing and implementing the ban.


On May 3, the U.K. government announced an ambitious fraud strategy, which would involve adding 400 new jobs to update its approach to intelligence-led policing. As Cointelegraph previously reported, the National Crime Agency estimates that fraud costs the country approximately 7 billion pounds ($8.7 billion) annually.


“The government will not tolerate this behavior,” said Andrew Griffith, the economic secretary to the Treasury, while criticizing the rising cold calls for financial services and products that often target the most vulnerable members of society.The Treasury’s case study on crypto cold call scam. Source: gov.uk


The Treasury highlighted numerous instances where cold calls were responsible for investors’ losses, out of which one involved cryptocurrencies, as shown above. While the U.K. government previously implemented various prohibitions and restrictions on cold calling, scammers often find loopholes in the system to bypass the law.The Treasury intends to impose a blanket ban on finance cold calls. Source: gov.uk


Intending to impose a blanket ban on financial cold calls, the Treasury put forth 19 questions to stakeholders to ensure maximum impact on scammers and minimum effect on businesses that often rely on cold calling prospects. The consultation closes on Sept. 27, 2023.


Related:UK Treasury plans to exclude derivatives and ‘unbacked’ tokens from regulatory sandbox


The U.K. government recently rejected the appeal to consider and regulate cryptocurrencies as gambling.“HM Treasury and the FCA [Financial Conduct Authority] will work with the industry to ensure crypto firms are made fully aware of the standards required for approval at the FSMA gateway. Further communications will be provided in due course to ensure standards for approval are clearly available to crypto firms operating in the UK.“


The government response noted that such an approach has the potential to completely counter the globally agreed recommendations from international organizations and standard-setting bodies.


Magazine:Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon# Business# Government# UK Government# United Kingdom# Scams# RegulationAdd reactionAdd reactionRead moreWhat is an atomic swap, and how does it work?Crypto P2P scams in India show digital asset education is neededEU Data Act smart contract ‘kill switch’ brings uncertainty

News Feed

France’s 3rd Largest Bank Societe Generale’s Subsidiary Obtains Registration as Digital Asset Service Provider
France"s 3rd Largest Bank Societe Generale"s Subsidiary Obtains Registration as Digital Asset Service Provider Societe Generale-Forge, a subsidiary of France’s third-largest
Eminem Purchases Bored Ape Yacht Club #9055 for $452K, Shady’s Portfolio Holds 166 NFTs
Eminem Purchases Bored Ape Yacht Club #9055 for $452K, Shady"s Portfolio Holds 166 NFTs Marshall Mathers, known professionally as Eminem has joined the community of bored apes by p
Brayden Lindrea5 hours agoGrayscale GBTC discount falls to 16% as markets bet on Bitcoin ETF approvalSome analysts say GBTC’s discount is narrowing because investors are pricing in the SEC’s approval on several pendi
Elon Musk Supports Bitcoin, Says BTC on the Verge of Broad Acceptance
Elon Musk Supports Bitcoin, Says BTC on the Verge of Broad Acceptance Spacex and Tesla CEO Elon Musk has clarified his position on bitcoin and dogecoin. He confi
Data Shows the US Economy Was Collapsing 5 Months Before the Coronavirus Outbreak
Data Shows the US Economy Was Collapsing 5 Months Before the Coronavirus OutbreakDuring the last two months, the global economy has shuddered and a great number of people still attr
Bitcoin Price Crash To $91,000 Termed Major ‘Bear Trap’ As Optimism Returns To The Market
Este artículo también está disponible en español. Crypto analyst Merlijn has described the Bitcoin price crash to $91,000 as a major bear trap as optimism returns to the
‘New nine’ Spot Bitcoin ETF volumes reach new daily high as BTC nears $55K
Brayden Lindrea1 hour ago‘New nine’ Spot Bitcoin ETF volumes reach new daily high as BTC nears $55KBlackRock’s IBIT made up more than 50% of the daily trading volume and even smashed its own daily record by more th
Tom Mitchelhill4 hours agoMark Zuckerberg reveals Meta AI chatbot, his answer to ChatGPTThe new AI assistant, Meta AI, will be initially available from Sept. 27 for a limited group of U.S.-based users.2196 Total views3 T
LUNA Investor Arrested for Knocking on Do Kwon’s Door After Losing $2.4 Million in Terra Crash
LUNA Investor Arrested for Knocking on Do Kwon"s Door After Losing $2.4 Million in Terra Crash A crypto investor has been arrested after knocking on Do Kwon’s door following
Ex-fintech CEO sentenced to 3.75 years over price manipulation scheme
Turner Wright3 hours agoEx-fintech CEO sentenced to 3.75 years over price manipulation schemeA federal judge in Florida recognized the HYDRO token as an investment contract qualifying as a security under SEC guidelines.7
Emerging DeFi Platform YFDAI Finance Launches SafeSwap and Launchpad, More Products to Follow
Emerging DeFi Platform YFDAI Finance Launches SafeSwap and Launchpad, More Products to Follow PRESS RELEASE. YFDAI Finance, a prominent decentralized finance (De
SEC-retly Failing: How the SEC Is Letting Crypto Down
SEC-retly Failing: How the SEC Is Letting Crypto Down When Gary Gensler (ex-Goldman Sachs investment banker) was announced as the new head of the Securities and Exchange Commission