Who really controls Britain's digital state? MPs have warned that Palantir's growing presence in the UK public sector represents an “unacceptable point of weakness”. Its government work includes: - The National Health Service
- Ministry of Defence
- Financial Conduct Authority Palantir insists the government retains control of its data, but owning the data and being able to walk away from the technology are two very different things. If the government can't realistically change suppliers, who holds the power? Our latest blog investigates access to sensitive government systems, the revolving door between government and technology companies, vendor lock-in and Britain's growing dependence on a handful of US suppliers. Read the full article in our blog here:

Bitcoin Policy UK

Who Is Gaining Control Of Britain’s Digital State?

Britain wants to become a digital state. Increasingly, some of the technology needed to make that ambition possible is being supplied by a relative...

@Susie Violet Ward

Could HMRC's proposed new powers put Bitcoin holders at greater risk of physical attack? HMRC wants to expand its powers to demand information from crypto businesses, but UK tax software firm Recap warns that the draft definition could also capture businesses that never hold customer funds, including: - Tax software providers
- Wallet manufacturers
- Block explorers Once a name and home address are linked to a Bitcoin address, that connection can remain long after a tax inquiry has ended. If the information falls into the wrong hands, it could expose individuals to theft, extortion or physical attacks. Read the full article on our blog.

Bitcoin Policy UK

HMRC’s Proposed Crypto Powers Could Raise Physical Security Risks

HMRC is proposing to extend its information-gathering powers to cryptoasset businesses and update the rules governing computer records and software...

@Susie Violet Ward

Bitcoin is not a generic cryptoasset. We’ve written to the FCA arguing that “same risk, same regulation” should work both ways. Bitcoin has no issuer, no controlling company and no organisation that can change its supply or allocate tokens to insiders. It is not asking for special treatment. It is asking to be regulated according to the risks it actually presents. Read the full article and open letter:

Bitcoin Policy UK

Bitcoin Is Not a Generic Cryptoasset: Our Open Letter to the FCA

Bitcoin Policy UK has written to Nikhil Rathi, Chief Executive of the Financial Conduct Authority, about Bitcoin’s treatment under the UK&#x...

@Susie Violet Ward

Stablecoin rules aren't aimed at Bitcoin, but the wording can reach further than intended. The Banking Act framework behind the Bank of England and Financial Conduct Authority (FCA) joint stablecoin regime covers "digital settlement assets", a legal category that isn't limited to stablecoins. In our response we asked both regulators to confirm the regime applies to identifiable firms, not to: - open source protocols - non custodial wallets - node operators - Lightning routing We also asked how smaller issuers would be given enough time to meet the Bank’s rules. Read the full article and our submission:

Bitcoin Policy UK

BPUK Calls for a Clear Route Through Stablecoin Regulation

When HM Treasury recognises a stablecoin issuer as systemic, that issuer comes under the supervision of two regulators. The Bank of England and the...

@Susie Violet Ward

Labour conference is back in Liverpool. Last year Bitcoin Policy UK turned up with orange umbrellas and a stand in the main exhibition hall. We: - Put Bitcoin on the conference floor - Spoke to the FCA - Put Bitcoin books into politicians’ hands* - Took mining into the energy debate - Asked Peter Kyle about the UK's bitcoin - Spoke to MPs about UK Bitcoin policy A year later, Bitcoin is being used on stage as a political punchline. We’ll keep making sure the people writing the rules understand Bitcoin. This was a huge team effort. Thank you to everyone who made it what it was. * Lawrence Lepard's The Big Print and Jason Maier’s A Progressive’s Case for Bitcoin . Thank you both. H/t Russell Rukin for the umbrellas, booth and beautiful leaflets, Alex Glasse for filming and getting our very own “distracted boyfriend” moment and The Bitcoin IFA for spotting us on the news.