Delivering the Queen’s Speech, Prince Charles outlines the British government's plans that support the safe adoption of cryptocurrencies. crypto cryptocurrency bitcoin $BTC
UK Outlines Plans to Support Crypto Adoption, Create More Powers to Seize and Recover Digital Assets
Delivering the Queen’s Speech, Prince Charles outlines the British government’s plans to support the safe adoption of cryptocurrencies and create “powers to more quickly and easily seize and recover crypto assets.”The U.K. government outlined its legislative agenda for the next parliamentary year in the Queen’s Speech delivered Tuesday by Prince Charles, the monarch’s son and first in line to the throne.
Speaking to both the House of Lords and the House of Commons, Prince Charles detailed numerous commitments that Her Majesty’s government will carry out. He mentioned that 22 bills will be introduced, telling parliament that the government’s “priority is to grow and strengthen the economy and help ease the cost of living for families.”
One of the bills is the “Financial Services and Markets Bill,” according to the background and briefingof the Queen’s Speech posted on the government’s website. The purpose of this bill is to “maintain and enhance the U.K.’s position as a global leader in financial services” and “seize the benefits of Brexit,” the document details.
“The creation of a civil forfeiture power will mitigate the risk posed by those who cannot be criminally prosecuted but use their funds to further criminality,” the Queen’s Speech briefing note describes.
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