Cryptocurrency’s threats to UK economy
UK government could face ‘limitless’ losses from businesses accepting cryptocurrency payments, the source of money is not taxed and cannot be retrieved when it is bankrupt.
More and more companies are starting to accept payments for goods and services in cryptocurrencies such as bitcoin, stellar, alongside debit, credit, or cash payments.
While many crypto enthusiasts are welcoming this change, experts say this could be a way for those businesses to use to launder money from the authorities, especially when the company goes bankrupt.
It is seen as the latest threat to emerge from the growing popularity of cryptocurrencies linked to money laundering and illegal black-market transactions. This is likely to deal a lot of damage to the British government in a time of prolonged economic inflation.
The Bank of England and the Ministry of Finance are considering the possibility of digital assets being integrated into the UK monetary system, to prevent possible risks as many businesses are gradually moving towards the electronic currency.
| Post date | Users | Rates | Link to Content |
|---|---|---|---|
| 2024-09-05 | dusdbv3 | view | |
| 2024-06-27 | orioleinsights | view | |
| 2021-10-30 | Sorte Rosa | 56 | view |
| 2021-10-30 | Sorte Rosa | view |
Comments
I heard about it... Maybe…
I heard about it... Maybe things will change. I've been hearing a lot about cryptocurrency lately. And at some point I became very interested in learning more about it. I was finally able to find an article on this site https://tabtrader.com/academy/articles/what-is-a-take-profit . There I found a more or less clear explanation about crypto. I really gained new knowledge. If you are interested, you can also take a look at the article in your free time.
Hello everyone. I need to…
Hello everyone. I need to withdraw cryptocurrency and I'm looking for a reliable crypto mixer. Perhaps someone will advise the one that he uses? Because there are a lot of them on the Internet, but I'm afraid to get caught by scammers.
Hello guys! A BTC node…
Hello guys! A BTC node refers to a computer or device running the Bitcoin network's software protocol, maintaining a full and up-to-date copy of the blockchain. These nodes play a crucial role in the decentralized nature of Bitcoin, as they validate and relay transactions and blocks, ensuring consensus across the network. Additionally, node btc can be divided into different types, with full nodes preserving the entire blockchain and verifying all transactions, while lightweight nodes rely on full nodes for transaction validation. Running a BTC node contributes to the network's security, transparency, and overall health.
Hi all. I’ve heard about starting with technical analysis, but I have no idea where to find easy to understand information about it. Does anyone have suggestions for some resources or lessons? Otherwise, any advice would be great!