What is the legislation being implemented that gives the UK government (NCA) the power to freeze, confiscate, and seize people’s crypto, without being charged or arrested first, if they suspect illegal activity such as scams, terrorism, money laundering, drug trafficking etc.?
When will regulation for stablecoins be introduced in the UK?
Check out my previous video on UK Stablecoin regulation here:
How many warnings and alerts have been made by the FCA so far since the new cryptocurrency regulations came into force in the UK on 8 October 2023? How are they managing financial promotions and planning to restrict crypto firms that do not meet its rules and regulations?
How does the UK and Law Commission plan to treat crypto, NFTs and other digital assets as property under law? And what does this mean?
That is what I cover in this video.
It has never been more important to educate yourself financially.
Contact me here if you are interested in working with me:
Useful links:
Economic Crime and Corporate Transparency Act 2023:
Law Commission – Digital Assets To Be Treated As Property Under Law:
Chapters:
0:00 – Intro
0:47 – Economic Crime and Corporate Transparency Act 2023
1:58 – UK Regulation for Stablecoins
2:32 – FCA Warnings for Crypto Firms
3:55 – Crypto To Be Treated As Property Under law
Disclaimer:
The information contained in this video is for informational purposes only. Nothing shall be construed as financial advice. The content is solely the opinions of the speaker who is not a licensed financial advisor. The speaker does not guarantee any particular outcome.
#crypto
#cryptoregulation
#uk
UK have tax policies designed to ensure no one gets rich
But it’s ok for politicians to give out brown envelopes
Which wallets?
"Using the powers provided in POCA 2002, law enforcement agencies in the UK can enforce a confiscation order against an individual who has benefitted from crime or. These powers can be used to seize and recover cryptoassets. Following recovery, a proportion of the assets are reinvested to tackle economic crime."
Basically if you're not a criminal or associated with proceeds of crime, then you have nothing to worry about…
Thought Rishi was a fan of crypto…
They want to rob Andrew Tate.
Remove your crypto from exchanges, take full custody of your crypto by using a cold storage device and live peacefully knowing you are in the 0.1%.
Remember, the real criminals are in government.
Uk Government have the rights to suck my balls, they want us to be more poor, why we should pay taxes for our own investments, but they can print money non stop
Get a physical wallet. No digital wallet/trading platform is safe.
Every wallet or phone has a backdoor even your intel processor.
Legislation is not law. it governs those that consent.
Leave the uk, before the ship has totally sunk
Might go to THAILAND, MAYALSYIA or PORTUGAL
They cannot freeze any assets within the DE CENTRALISED sphere, so drug traffickers, scammers etc etc, the alleged people they intend to stamp down on, do not use centralised exchanges coinbase etc etc, neither do they use centralised wallets, or anything that uses infura, therefore the only reason for this video is to FUD people from buying crypto, Crypto is the peoples revolution, the Fuck you, corrupt governments investment vehicles etc, one more thing do not confuse LEGAL with LAW, law cannot be changef, legals can and often are changed as they're proven not to work 😊
Great content, but your intro blah blah is too long
Thank you for the information
How do they freeze Bitcoin? Soon the clever governments will beg Bitcoin holders to sell directly to them at retail price with no tax implications just to get hold of Bitcoins.
The tide is turning guyz. No matter what country you are in it will be the same eventually just better weather. The whole world is going to be digital so what does that tell you. This is a global agenda, you can run but you can't hide. NWO takeover. 😂😂😂
So if theres a global crash they could freeze everyones crypto without any grounds for doing so cant they?
Uk is fully matrix 💁🏻♂️live there like a 🫏
If i was to memorise all my crypto, can the gov't still extract that information from my head😢
Government do that anyway
Hope they check thoroughly first
We know how mistakes are orchestrated!!
They may grant themselves the right to seize it but they can not grant themselves the ability to confiscate it. Thus the beauty of crypto.
LOVE the way "" caucusasians"" use the WORD ………""CIVIL""……..WHEN THEY BOUT TO COMMIT A CRIME.
Can anyone advise me best course of action to avoid as much tax as possible.
I have multiple different coins on kraken .
Can i transfer to a non regulated exchange or wallet ? Any advise appriecated
Legislation first, followed by centralising crypto so the banks can take over
Interesting times
I knew this was coming. As they debase our currency over time they are obliged to remove valid alternatives from people. Specially those who aren’t friends of the swamp.
Am I right in thinking if it gets transferred from a CEX to a cold wallet/offline storage, it's untraceable from that point?
TWO WORDS – "COLD STORAGE" 😂😂😂
I am a little concerned now. Could anyone correct me if im wrong, am i missing something ? So if your doing illegal stuff they can take all crypto but if your not you will have to pay taxes on proffits just like you would if you made a fairly large proffit on something like a house ?
VpN best decision 👌 now i am in Malta chill and grill😂
Starting to sound like a communist country, get out quick
You don't own your car, dvla does.
UK elite.. "how dare you use your brain and jump from lower or middle class into the class of the rich & wealthy, go back to work & stay there" 😂🤣.. The UK is a scam
Well if you are doing illegal activities then what is wrong?
Interested to know more about what government agencies can do regarding accessing hot/comf storate wallets. If they can access your Ledger for example, it’s game over for the idea of self-custody
Thought block chains were unbreakable/Untouchable 🤔
No risk No champagne
If your preferred crypto doesn't have strong self-custody support its time to rethink your preferred crypto.
There are solutions. The first is to leave this retrograde country. But you can also open the Incognito wallet and transfer there, from there go to an exchange without kyc not domiciled in the UK to exchange and return to Incognito wallet and repeat. Please write below other solutions that you know.
The tory gang of thieves are like the bully at a kids party, pushing the birthday child out of the way and them blowing out the candles, they are 100% very good at ruining Britain. I bet they all hold crypto and use it to buy white powder and prostitutes. Its not Great Britain anymore and defiantly not a United Kingdom.
I don't think there is any other country that is worst than UK. Their greed at public wealth is ridiculously high. I barely could open any account on any crypto exchanging platform!
Uk is over
Time for those who haven't got one already, to get a non-custodial wallet. The exchanges have to abide by the FCA and the communist measures it brought in.
If they really wanted to go after fraudsters, they'd not have members of parliament evading millions in tax. They'd go after the big tech companies who pay approx 4% tax when SMEs and individuals get tortured by the communist tax system.
So like bank accounts can be frozen and the proceeds of crime can be taken, so just adding crypto to these old laws, it makes sense and changes nothing
Are there any safe UK banks for buying/selling on the crypto market?
I really don't want to use my personal account (Barclays), as I also have a business account with them also.
Impressive video! Your detailed analysis of the intricate pension situation and the potential impact of the debt ceiling crisis is a compelling wake-up call for proactive financial planning. Yet, adding a touch on alternative investment strategies, such as the potentially lucrative day trading, would have elevated the discussion. Though risky, with strong risk management and a keen understanding of the markets, it can be a profitable endeavor. Continuous learning, staying updated with trends, and leveraging insights like Pennie Thorne’s are critical to success. Remember, with discipline and dedication, trading success is within reach…
I think what the UK has plan for crypto is to keep the big three Bitcoin, Ethereum, XRP (maybe) if not then Bitcoin and Ethereum and get rid of all other coins, because BTC and ETH are expensive and will be out of reach for most people in the UK to own. They might keep certain coins that are regulated such as Jasmy which is regulated by the Japanese government, but what do i know.