UK to announce new crypto regulations
Cryptocurrencies have been having hard time for a while but updates keep coming.
The UK government is expected to announce new rules governing the sale and marketing of crypto assets. Regulators will have greater powers to oversee the industry, including a restriction on crypto-related ads by companies outside the UK, the Financial Times reported. The Financial Conduct Authority will also monitor how crypto companies are doing. The proposed powers will be added to a law already in parliament. The Financial Services and Markets Bill is designed to shape the UK's post-Brexit financial sector. The bill includes sections that define stablecoins and crypto assets.
UK set to announce new crypto regulations
The NFT sector continues to develop day by day. This time, Coca-Cola took action for the World Cup NFT collection. According to the latest news, Coca-Cola has agreed with Crypto.com for the World Cup NFT collection. The collection will consist of 10,000 NFTs. Coca-Cola is releasing a series of FIFA World Cup NFTs based on heatmaps of games played. NFTs will be developed and stored on Crypto.com's NFT platform by GMUNK, a digital artist who has previously worked with Nike, DoorDash and musician Grimes.
Central banks of many countries are very interested in digital currencies (CBDC) issued by their central banks. According to the latest news, the State Bank of Pakistan has signed new laws for Electronic Money Institutions to enable a CBDC to be issued within the next three years. State Bank of Pakistan continues to take new steps for CBDC work. The country is targeting 2025 for CBDC studies.
