Tuesday, 27 February 2024

Crypto News

UK to involve players on crypto legislation as Pullix presale nears $1M

UK funds get green light for tokenisation development

  • Paving the way for digital securities legislation, the UK partners with finance and tech sectors.
  • Pullix, a hybrid exchange, introduces PLX token, “Trade-to-Earn” concept, and a diverse ecosystem.
  • Pullix’s ecosystem includes off-chain order book, lending protocol, and VaultX.

In a significant move toward embracing the burgeoning crypto landscape, the UK government has announced plans to partner with financial and tech sectors to establish legislation for digital securities. Concurrently, Pullix, an emerging player in the crypto space, is making waves with its unique approach and ongoing presale.

This article delves into the details of the UK’s crypto-friendly initiatives and sheds light on Pullix’s innovative features and tokenomics.

UK government’s push for digital securities legislation

The United Kingdom, under the leadership of Prime Minister Rishi Sunak, is positioning itself as a hub for the crypto industry. A key development in this strategy is the government’s collaboration with financial services and technology industries to formulate legislation for digital securities. The proposed Digital Securities Sandbox (DSS) has garnered positive responses since its introduction in a July consultation.

The DSS, overseen by the Bank of England and the Financial Conduct Authority (FCA), is designed to allow companies to test new digital securities products under regulatory supervision. Respondents to the consultation emphasized the importance of flexibility within the sandbox rules to accommodate novel use cases. Additionally, clarity on tax treatment within the sandbox remains a priority for stakeholders.

The government’s commitment to working with regulators and industry players showcases a proactive approach, to create a conducive environment for testing and deploying digital securities. Assets such as debt, equity, and money-market instruments are set to be included in the sandbox, addressing requests from respondents for a broader scope.

Pullix’s innovative approach

As the UK paves the way for digital securities legislation, Pullix emerges as a dynamic player in the crypto space, offering a hybrid exchange solution that combines features of both centralized and decentralized platforms. Pullix aims to tackle liquidity challenges in decentralized finance (DeFi) and provide users with a secure, user-friendly trading…

Click Here to Read the Full Original Article at CoinJournal: Latest Bitcoin, Ethereum & Crypto News…