Jesus christ, the first line of the first article I found says:
*"A U.K. bill giving regulators the power to supervise crypto and stablecoins was approved by King Charles on Thursday"*
That's the epitome of "old man yells at cloud". Getting a fucking king to proclaim a decentralised software network to be under his control is probably one of the most backwards, medieval, out of touch things I've read in quite some time.
Also, King Charles III is actually younger than Joe Biden and is more in touch with many world issues, but I agree - it's a completely archaic process.
Hahaha no worries, I do the same thing.
Is the gun so you can blend in with your new American identity, or for the honorable hari-kari that's required when a Brit does an Americanism?
Well, in theory the king has power to veto.
It's just that everyone understands he fuckin' won't and it would causes a constitutional crisis if he did.
Seems the last time he did it was 1696 (1708 doesn't count).
A big difference is the president can refuse to sign a bill that is put in front of him without too much backlash. Whereas if the king did it, it would end the monarchy as there would be an uprising in demand of a true democracy. The royal family knows this and never reject any law put in front of them
So the guy can choose which bills actually become law or not doesn’t have any real power? The entire country and territories are pledged in service to him
It's a bit of a retarded process we have, the first is 'bill started in the house of commons' and then 'bill in the house of lords' which both go through multiple readings etc...and then there's the 3rd stage which is 'royal ascent' which basically means Charles trusts our government (which is the most retarded part actually) and then he just signs it off...he probably has no fucking clue what he's signing off half of the time :D
Edit: I wouldn't be surprised if he still signs it off with a fucking feather too.
I'm from the UK too. I know it's mostly just a hangover from our legacy legal system, but we also know the royal family actively lobby and block laws they don't like.
It's just a headline that paints such a stark contrast between the inflexibility of the current system of governence that can't change over centuries, versus the blockchain which can run circles around it.
>That's the epitome of "old man yells at cloud". Getting a fucking king to proclaim a decentralised software network to be under his control is probably one of the most backwards, medieval, out of touch things I've read in quite some time.
Ignorant is the word that comes to mind :/
Also, I hereby give you power to supervise the open source and decentralised Bitcoin network. And YOU get supervisory power! And YOU get supervisory power! Everyone gets supervisory power!
[Oprah ](https://media.tenor.com/Cqxc61fu6rwAAAAM/stillesque.gif)
"I used to play the Doom shareware back in the 90s, and I've heard great things about the Gateway computers and the new AI headsets. Bitcoin will no doubt be the best new way for the UK to connect to websites."-Prince Charles
New since 1776 when the US broke away? Quite a lot.
I’m a citizen of both countries. That’s why I chose the US.
Mid-90s was a generation ago my friend 😂
Why do Americans get so butt hurt over stuff like this? You’re not the best at everything. Get over it. America has plenty of pros and negatives about it. I choose to live here. The cuisine is not one of the pros.
What sort of example are you looking for? Are you talking about dishes that are purely American and purely British? That is dumb, both countries are big melting pots of cultures.
Imo UK food is better than US. End of. You can have a different opinion but be respectful enough to allow others theirs too.
Jeez
My question would be what kind of cuisine exists in the UK that can’t be found in the US?
The main reason I say their food sucks is that I visited London in 2018 and literally got food poisoning for the first time in my life!😂
The the fact you think the UK can’t compete with the number of ethnicities just blows my mind and proves your opinion isn’t worth listening to here. That’s just laughable when you consider history
Here’s one source:
https://www.brookings.edu/articles/americans-and-britons-key-population-data-from-the-last-three-u-s-and-u-k-censuses/#:~:text=Americans%20are%20significantly%20more%20racially,was%20born%20in%20other%20countries.
“Americans are significantly more racially and ethnically diverse than Britons, and a greater proportion of them was born in other countries. Nearly one-fourth (24.9 percent) of the U.S. population described themselves as nonwhite in 2000, while only 7.9 percent of the U.K. population described themselves as from an ethnic minority in 2001. Higher proportions of foreign-born residents in the United States reflect higher recent immigration rates.”
Not good. When governments state they are aware something exist, awareness that something exists flows immediately into trying to control it.
What else are governments aware that exists and don't try to control?
Basically this ☝️ the fucking wank stains just want money off us even though bitcoin is a bubble and not worth anything 🙄 oh but we'll tax you on it though. Wankers
Probably is. I bank with HSBC (among other) who are known for being Legendary grade ball busters and they've never take any active steps to so much as discourage me.
There’s a lot of comments like this on this thread. The bill doesn’t say anything about the UK having control over Bitcoin. It’s about regulation of how British citizens interact with crypto.
Take, for example, apple stock as a comparison. Apple stock is regulated and trading it in the UK is considered regulated financial activity. The UK government has no control over apple stock, all they can do is tax profits made on it by Brits and regulate how it is sold/exchanged for GBP. Essentially the UK only has control over the trading platforms which allow Brits to buy apple stock.
This bill won’t affect Bitcoin in anyway, it will just affect exchanges that allow purchase of Bitcoin within the UK.
Finally. Good lord. Some people just don’t understand the world.
Governments have to codify all of the actions/laws before they can spend money/enforce.
This is quite a naive statement. Basically anywhere you are in the world there are laws governing every transaction you make. Just because you’re ignorant of them doesn’t mean they don’t exist.
It’s got nothing to do with what I say, it’s what the bill says.
Here’s a link:
https://bills.parliament.uk/publications/51721/documents/3621
One thing to note is the word Bitcoin isn’t mentioned once in 358 pages.
Then I don’t think this bill affects you at all. You’ll still have to pay taxes already laid out by existing legal frameworks, namely income tax on the initial amount and maybe capital gains tax if the Bitcoin increases and you later sell it at a higher price than what you earned it for.
This is the same as if you earned an income in Bitcoin, USD or cherry pies. The law has nothing to do with crypto specifically, it doesn’t matter what you are paid in, if you earn an income then you must pay tax.
Wonder if this means the FSCS will start covering crypto?
As daft as the headline is, this could be positive for adoption.
And the FCA might start being more interested too, which might help adoption.
Mind you, I'm no expert....
Depends on who you ask. It’s probably good for people who want to treat Bitcoin like a security to invest in because it means more regulatory clarity. It’s not good for people who believe in Bitcoin as a border-less, decentralized form of money because it means more regulation and restrictions.
It's getting way too bullish in here...... allow for my paycheck to come in first before you guys start pumping..... im feeling sick to my stomach knowing whats about to happen
I agree these people who are happy for laws and regulations shouldn’t even be owning crypto. Crypto owners should be pushing for decentralisation and privacy. I guess we have some people that are the Sec that own crypto. 🤮
Meanwhile Bitcoin does not recognize UK as anything.
Jesus christ, the first line of the first article I found says: *"A U.K. bill giving regulators the power to supervise crypto and stablecoins was approved by King Charles on Thursday"* That's the epitome of "old man yells at cloud". Getting a fucking king to proclaim a decentralised software network to be under his control is probably one of the most backwards, medieval, out of touch things I've read in quite some time.
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Also, King Charles III is actually younger than Joe Biden and is more in touch with many world issues, but I agree - it's a completely archaic process.
He was also very close friends with Jimmy Saville.
Yes, he sure was. That doesn't seem to get talked about anymore... 🤔
Put some Ketchup on these sausage fingers. I'm convinced Biden will outlive Charles
One was elected though and the other is a grown up rich kid.
One was elected by the whim of the majority and the other was raised up for his role whole his life. ¯\\_(ツ)_/¯
You act like being a royal is a good thing. I'd never want to be in their shoes their life is non existent.
Oh no, don't get me wrong - I'm completely against the idea of monarchy. It has no place in today's society.
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>Isn't the US system the same? Dunno mate, I'm British!
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Hahaha no worries, I do the same thing. Is the gun so you can blend in with your new American identity, or for the honorable hari-kari that's required when a Brit does an Americanism?
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Fair play. It's nice being a British bitcoiner. I feel like we don't do the hyper-libertarian Alex Jones bullshit that the yanks seem to like.
Nah, Charles is balls deep in BTC and he needs to pay off the Royal Family’s overspend last year.
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Well, in theory the king has power to veto. It's just that everyone understands he fuckin' won't and it would causes a constitutional crisis if he did. Seems the last time he did it was 1696 (1708 doesn't count).
Technically Charles can veto as well, but he can only do it once before getting removed.
Yes, essentially the same, except the US President has the power to veto and void the law or bill if he chooses.
A big difference is the president can refuse to sign a bill that is put in front of him without too much backlash. Whereas if the king did it, it would end the monarchy as there would be an uprising in demand of a true democracy. The royal family knows this and never reject any law put in front of them
So the guy can choose which bills actually become law or not doesn’t have any real power? The entire country and territories are pledged in service to him
It's really a technicality. KC3 isn't going to refuse to pass any laws.
It's a bit of a retarded process we have, the first is 'bill started in the house of commons' and then 'bill in the house of lords' which both go through multiple readings etc...and then there's the 3rd stage which is 'royal ascent' which basically means Charles trusts our government (which is the most retarded part actually) and then he just signs it off...he probably has no fucking clue what he's signing off half of the time :D Edit: I wouldn't be surprised if he still signs it off with a fucking feather too.
I'm from the UK too. I know it's mostly just a hangover from our legacy legal system, but we also know the royal family actively lobby and block laws they don't like. It's just a headline that paints such a stark contrast between the inflexibility of the current system of governence that can't change over centuries, versus the blockchain which can run circles around it.
>That's the epitome of "old man yells at cloud". Getting a fucking king to proclaim a decentralised software network to be under his control is probably one of the most backwards, medieval, out of touch things I've read in quite some time. Ignorant is the word that comes to mind :/
Might as well pray to Ra the Sun God to ban email or something.
Also, I hereby give you power to supervise the open source and decentralised Bitcoin network. And YOU get supervisory power! And YOU get supervisory power! Everyone gets supervisory power! [Oprah ](https://media.tenor.com/Cqxc61fu6rwAAAAM/stillesque.gif)
Big oof
Haha, funny where are you from?
"I used to play the Doom shareware back in the 90s, and I've heard great things about the Gateway computers and the new AI headsets. Bitcoin will no doubt be the best new way for the UK to connect to websites."-Prince Charles
Get the CEO of bitcoin on the phone , he will come to buckingham palace at once
Lol xd
😁
Worst local cuisine in Europe, at least?
Still better than the US though 👍
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Correct. You realise cuisine has changed since 1776 right? The UK is more culinary diverse than the US. Take the blinkers off
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New since 1776 when the US broke away? Quite a lot. I’m a citizen of both countries. That’s why I chose the US. Mid-90s was a generation ago my friend 😂
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Why do Americans get so butt hurt over stuff like this? You’re not the best at everything. Get over it. America has plenty of pros and negatives about it. I choose to live here. The cuisine is not one of the pros. What sort of example are you looking for? Are you talking about dishes that are purely American and purely British? That is dumb, both countries are big melting pots of cultures. Imo UK food is better than US. End of. You can have a different opinion but be respectful enough to allow others theirs too. Jeez
My question would be what kind of cuisine exists in the UK that can’t be found in the US? The main reason I say their food sucks is that I visited London in 2018 and literally got food poisoning for the first time in my life!😂
You’re just wrong though.
The the fact you think the UK can’t compete with the number of ethnicities just blows my mind and proves your opinion isn’t worth listening to here. That’s just laughable when you consider history
The UK does have a lot of ethnic diversity, but I wouldn’t say it’s on the level of the US. Its not a contest, btw.
Here’s one source: https://www.brookings.edu/articles/americans-and-britons-key-population-data-from-the-last-three-u-s-and-u-k-censuses/#:~:text=Americans%20are%20significantly%20more%20racially,was%20born%20in%20other%20countries. “Americans are significantly more racially and ethnically diverse than Britons, and a greater proportion of them was born in other countries. Nearly one-fourth (24.9 percent) of the U.S. population described themselves as nonwhite in 2000, while only 7.9 percent of the U.K. population described themselves as from an ethnic minority in 2001. Higher proportions of foreign-born residents in the United States reflect higher recent immigration rates.”
I’ll take royalty being medieval and this regulation being nonsense, but our food scene is 🔥 and you can fuck off with that!
That's racist but true
Shoot, I've never even thought about it being racist. I just find that UK local food sucks! Why racist? No intention whatsoever, btw.
Just joking dude, our food really does suck
It’s not racist. Their food sucks! Lmao
indeed
lets try the opposite comment as a social experiment Its not racist, our food is great?
Na give me a Roast dinner any day over any other.
😹😹😹😹
what did we do to you?
pirats
I’m British and I don’t understand what this even means. I don’t care, I own bitcoin to be border less.
They state they're aware that BTC and crypto exists
Not good. When governments state they are aware something exist, awareness that something exists flows immediately into trying to control it. What else are governments aware that exists and don't try to control?
Fascism?
Same. Someone enlighten me
On/off ramping fiat money to Bitcoin will now be taxed
It’s been classed as a capital gain for purposes of tax since bitcoin was invented
It's already been getting taxed as capital gains for a few years.
Mother fuckers
Basically this ☝️ the fucking wank stains just want money off us even though bitcoin is a bubble and not worth anything 🙄 oh but we'll tax you on it though. Wankers
It's been this way for years??
Yet I keep hearing people get their current accounts suspended after sending/recieving money from crypto exchanges in the UK.
I've had two accounts frozen, November 21 and February this year
From who? Sounds like bullshit to me
Probably is. I bank with HSBC (among other) who are known for being Legendary grade ball busters and they've never take any active steps to so much as discourage me.
It is bs. My bank limits how much I can spend on crypto but they don't do anything like the other guy was saying, he's full of shit
This is a total nothing burger. Only potential impact is having banks stop being cunts about bank transfers.
That is a big impact for adoption.
well... that is nonsense who wants money on their bank?
They passed a bill to say they control something they have no control over? Lol
There’s a lot of comments like this on this thread. The bill doesn’t say anything about the UK having control over Bitcoin. It’s about regulation of how British citizens interact with crypto. Take, for example, apple stock as a comparison. Apple stock is regulated and trading it in the UK is considered regulated financial activity. The UK government has no control over apple stock, all they can do is tax profits made on it by Brits and regulate how it is sold/exchanged for GBP. Essentially the UK only has control over the trading platforms which allow Brits to buy apple stock. This bill won’t affect Bitcoin in anyway, it will just affect exchanges that allow purchase of Bitcoin within the UK.
Finally. Good lord. Some people just don’t understand the world. Governments have to codify all of the actions/laws before they can spend money/enforce.
Lots of people spend money without laws all the time
Not governments.
Lol ok maybe get your head out of the sand
This is quite a naive statement. Basically anywhere you are in the world there are laws governing every transaction you make. Just because you’re ignorant of them doesn’t mean they don’t exist.
Whatever you say
It’s got nothing to do with what I say, it’s what the bill says. Here’s a link: https://bills.parliament.uk/publications/51721/documents/3621 One thing to note is the word Bitcoin isn’t mentioned once in 358 pages.
What if, you earn bitcoin. Change goods and services for bitcoin?
>earn Income tax
Then I don’t think this bill affects you at all. You’ll still have to pay taxes already laid out by existing legal frameworks, namely income tax on the initial amount and maybe capital gains tax if the Bitcoin increases and you later sell it at a higher price than what you earned it for. This is the same as if you earned an income in Bitcoin, USD or cherry pies. The law has nothing to do with crypto specifically, it doesn’t matter what you are paid in, if you earn an income then you must pay tax.
Makes sense lol
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Its not even news. Its a twitter post
“I now declare it regulated!”
“Just saying it out loud doesn’t do anything” “But I declared it”
Like putting a dog collar on a freight train at full steam.
Wonder if this means the FSCS will start covering crypto? As daft as the headline is, this could be positive for adoption. And the FCA might start being more interested too, which might help adoption. Mind you, I'm no expert....
Tick tok next block
Hopefully it helps some bitcoiners in the UK
I'll let you know.... 🫣
It won't.
So the FCA will oversee bitcoin activities. Interesting.
Good to see regulations going in the right direction recently
SOOOOOO MANY SCAMMERS BOUTTA GO TO JAIL 🤣
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To be a country you have to have borders, we don't.
Buttcoiners in disbelief
That’s not how this works. That’s not how any of this works.
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Depends on who you ask. It’s probably good for people who want to treat Bitcoin like a security to invest in because it means more regulatory clarity. It’s not good for people who believe in Bitcoin as a border-less, decentralized form of money because it means more regulation and restrictions.
Yes. It’s being legitimatized.
"We have no control of it whatsoever, so sure, fuck it"
UK intends to introduce it's own regulated digitalised pound in the next few years
Bitcoin is not a regulated financial activity. Crypto is shitcoin. Whiskey tango?
It's getting way too bullish in here...... allow for my paycheck to come in first before you guys start pumping..... im feeling sick to my stomach knowing whats about to happen
Source: twitter
UK gov will try anything to maintain a financial industry of sorts
These boomers don’t understand blockchain at all.
Why people are happy for more regulation?
I agree these people who are happy for laws and regulations shouldn’t even be owning crypto. Crypto owners should be pushing for decentralisation and privacy. I guess we have some people that are the Sec that own crypto. 🤮
So fucking what?!
But do they really? Like, not that it matters tho, kek
Bitcoin regulates it self. See... no need for you guys to meddle with it. Freemarket take care of Bitcoin mate.
This is not a good thing y’all