- Prince Charles outlined various pledges that Her Majesty’s administration would execute.
- Queen Elizabeth II delivered an address made by the federal government.
The Queen’s Speech, provided by Prince Charles, the monarch’s boy and first-in-line towards the throne, organized the government’s legislative priorities for the following parliamentary year. Additionally, throughout the ceremonial condition opening of Parliament, Queen Elizabeth II delivered an address made by the federal government.
Enhance Position as World Leader in Financial Services
Prince Charles outlined various pledges that Her Majesty’s administration would execute in speeches to home of Lords and home of Commons. He stated 22 laws and regulations is going to be filed, adding the government’s “priority would be to grow and strengthen the economy which help ease living costs for families.”
Based on the Queen’s Speech background briefing materials, one legislation may be the “Financial Services and Markets Bill.” Document specifications condition the bill’s goal would be to “maintain and boost the U.K.’s position like a world leader in financial services” and “seize the advantages of Brexit.”
The “Economic Crime and company Transparency Bill,” which Prince Charles also highlighted, make reference to cryptocurrencies. However, with regards to digital currency ecosystem, both U.K. and also the E.U. are very conservative. Because the embryonic asset class is becoming popular, market watchdogs such as the Financial Conduct Authority (FCA) have enforced a slew of rules, together with a ban on numerous cryptocurrency exchanges, including Binance.
Finance industry is viewed as speculative and unrelated to real cash through the government through the Bank of England (BoE). However, this latest nudge from Her Magnificence may push to research and talk about the positive implications for that payment ecosystem of adding support for cryptocurrencies.