RATE Group | Cryptocurrency Regulations May Take 2 Years for Lawmakers to Draft
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Cryptocurrency Regulations May Take 2 Years for Lawmakers to Draft

15 Oct Cryptocurrency Regulations May Take 2 Years for Lawmakers to Draft

Posted at 02:51h in Cryptocurrency News by

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bitcoin britain uk cryptocurrency

Cryptocurrency regulations in the UK could take up to 24 months to be introduced according to a legal expert at a UK based law firm.

James Kaufmann, Legal Director at Reynolds Porter Chamberlain (RPC) UK, while commenting on the subject in a statement published by his company, said it could take two years to introduce such regulations due to a couple of reasons. To achieve the results within such a timeline is based on a best-case scenario where the proposals with the House of Commons Treasury Committee report starts to progress.  

RPC is a London based corporate law firm with offices in the UK and Asia. The firm which has over 80 partners, has been named Law Firm of the Year three times in a row since 2014.

According to Kaufmann, the processes required to move such bills forwards are often “lengthy,” given that the recent proposals sent to House of Commons Treasury Committee (HM Treasury) have just begun to move forward.

“Bringing a complex and fast-evolving area…

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