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The UK is the "next frontier for blockchain innovation", according to Tether’s CEO. The government has previously stated its ambition to make Britain a global cryptocurrency hub, and Paolo Ardoino believes the country has an important role to play in the evolution of blockchain. Ardoino said: "We believe that the United Kingdom is the next frontier for blockchain innovation and the wider implementation of cryptocurrency for financial markets. We hope to help lead this innovation by providing cryptocurrency users worldwide with access to a GBP-denominated stablecoin issued by the largest stable...
BANG Showbiz English
The UK government has proposed imposing new regulations of buy now, pay later lenders. This comes after tech giant Apple announced their plans to launch their own service - which is similar to their competitors’ Klarna, Clearpay, PayPal and others - that allows borrowers to repay their loans in instalments, typically over three months. John Glen, Economic Secretary to the Treasury said: “Buy-Now Pay-Later can be a helpful way to manage your finances but we need to ensure that people can embrace new products and services with the appropriate protections in place. “By holding Buy-Now Pay-Later t...
BANG Showbiz English
UK Chancellor Rishi Sunak has announced plans to regulate some cryptocurrencies. The country is ultimately hoping to become a hub for digital payment companies - but Sunak insists that more regulations are needed in order for the UK to reach its long-term ambitions. He said: "We want to see the [cryptocurrency] businesses of tomorrow - and the jobs they create - here in the UK, and by regulating effectively we can give them the confidence they need to think and invest long-term." However, the Treasury has still not announced which stablecoins will be regulated as part of the broader plan. The ...
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