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Title: [2017-06-26] Barclays Want UK Government to Regulate Bitcoin Post by: sheld0n on June 26, 2017, 06:04:30 PM In a recent interview with CNBC, Barclays CEO, Ashok Vaswani revealed that the bank has been in communications with Britain’s Financial Conduct Authority (FCA) to discuss ways in which to safely regulate bitcoin.
It has been announced that Barclays has been engaged in active dialogue with UK regulators about bringing bitcoin “into play” within the UK fintech industry. Barclay CEO, Ashok Vaswani, told CNBC that Barclays previously has met with the Financial Conduct Authority (FCA), Britain’s chief regulatory watchdog overseeing the fintech industry, to discuss virtual currency regulations. https://news.bitcoin.com/barclays-want-uk-government-to-regulate-bitcoin/ Title: Re: [2017-06-26] Barclays Want UK Government to Regulate Bitcoin Post by: IconFirm on June 26, 2017, 09:34:23 PM The same Barclays who have just been charged with mass Fraud.....
https://bitcointalk.org/index.php?topic=1983909.0 What a joke they are. Title: Re: [2017-06-26] Barclays Want UK Government to Regulate Bitcoin Post by: gentlemand on June 26, 2017, 09:41:08 PM What extra regulation is required? There's the usual KYC/AML stuff. Perhaps it'll be something to do with custodial requirements for exchanges and so on.
It is a little odd that there isn't one single bit of crypto legislation in the UK considering the efforts elsewhere. Perhaps that's a factor in banks being so crypto averse. Title: Re: [2017-06-26] Barclays Want UK Government to Regulate Bitcoin Post by: IconFirm on June 26, 2017, 09:47:36 PM No regulation is required - crypto regulates itself by design.
It's a control/money grab by one of the banking industrys biggest fraudsters. Nothing more. The supposed lack of regulation didn't seem to stop them investing in Bitcoin either: https://www.ft.com/content/edf0652e-fb3c-11e5-b3f6-11d5706b613b Pure Hypocrites. Title: Re: [2017-06-26] Barclays Want UK Government to Regulate Bitcoin Post by: Vishnu.Reang on June 27, 2017, 09:22:52 AM This is very interesting news. If Barclays ventures in to the Bitcoin sector, then it can be mutually beneficial for both the parties. There is a good chance that in the next 4-5 years Bitcoin will overtake other payment gateways such as PayPal, Visa and Mastercard. Those who jump in early will reap the maximum gains.
Perhaps Ashok Vaswani has decided that he doesn't want to go down in the history books as a sore loser like George Bell. Title: Re: [2017-06-26] Barclays Want UK Government to Regulate Bitcoin Post by: iamTom123 on June 27, 2017, 10:16:38 AM What extra regulation is required? There's the usual KYC/AML stuff. Perhaps it'll be something to do with custodial requirements for exchanges and so on. It is a little odd that there isn't one single bit of crypto legislation in the UK considering the efforts elsewhere. Perhaps that's a factor in banks being so crypto averse. Reading things between the lines, this can turn out to be good news for Bitcoin. We all live in a world of compromise and so some regulations in place are not necessarily hindrance to the growth of Bitcoin and can even sprout new opportunities. maybe Barclays have already decided to jump into the Bitcoin bandwagon and can even be thinking of taking advantage of the blockchain technology which is open for everybody. It would indeed help if Britain can come up with a legal framework for Bitcoin so that fintech companies can be guided and there would be more that can be attracted to base in the UK. It seems to me that this will not be the last for a big bank to be push for safety regulations on Bitcoin and we will see later what are their true intentions are. |