NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Silicon Valley Bank: UK Government Regulate Bitcoin Industry

newsbtc
newsbtc
4 years ago
2 mins read
UK Government Should Regulate Bitcoin Industry Newsbtc bitcoin news

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In response to the UK government’s call to for information on digital currencies last year, US-based Silicon Valley Bank suggested that they should start regulating the bitcoin industry. Ideally, the UK could work with other financial regulators across the globe to come up with a framework for cryptocurrency oversight.

The bank mentioned that regulation could help mitigate the risks associated with digital currencies and provide a framework for companies in the space to operate. If this were to happen, cryptocurrencies would become more appealing to users.

Bitcoin Industry Regulation

In some US states like New York, bitcoin industry regulation has had mixed reviews. The recently implemented BitLicense framework was seen to be stifling to innovation, as it could be very costly for startup companies to obtain regulatory approval for their products.

However, the prominent use of bitcoin in illegal and underground criminal activity stresses the need for oversight. The infamous online drug marketplace Silk Road has been shut down and its owner put behind bars, underscoring the need to monitor potential cryptocurrency usage in illegal dealings.

“If this [digital currency] is to be regulated, then yes, the [UK] government should lead and ensure accountability, sustainability, credibility and liquidity of digital currency participants or designate an appropriate body to the same,” indicated the four-page document. “Taking no action could leave the UK static to global economy change – if others go forward.”

Indeed the UK government could be one of the best leaders when it comes to creating a unified approach towards bitcoin industry regulation, as they are seen to be relatively open-minded to cryptocurrency developments. Their call for information has yielded several recommendations from top financial institutions, some of which are suggesting a creation of a government-based cryptocurrency and others advising the regulation of bitcoin wallets.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

The price of Bitcoin (BTC) has not been particularly impressive over the weekend, which has been a somewhat consistent theme...

Opeyemi Sule 16 hours ago
Bitcoin

Bitcoin Meets Heartbreak In Drake’s Latest Track—Details

Grammy‑winning artist Drake has just put out a new track called What Did I Miss? that makes a clear link between...

Christian Encila 17 hours ago
Bitcoin

Are Bitcoin Retail Traders Back In The Market? On-Chain Data Suggests So

Bitcoin started the month of July with a convincing rally to the upside, suggesting a sustained bullish sentiment amongst investors...

Opeyemi Sule 19 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin price analysis

Chartist Slams Misleading Dogecoin Analysis: ‘Focus On This Instead’

Jake Simmons 41 minutes ago

本月最熱門迷因幣價格反彈:哪些冷門項目有望暴漲100倍?

Mark Mak 3 hours ago
Bitcoin

Brazil’s Central Bank Hacked—$40M In Crypto Washed In Aftermath

Christian Encila 1 hour ago

Premium Sponsors

Press Releases

  • MEXC Releases Bimonthly Transparency Report: $559 Million...

    11 minutes ago
  • Make $8,000 a day in stable passive income easily –...

    16 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    17 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    1 day ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    2 days ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.