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UK plans full cryptocurrency regulation

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By Francesca Hangeior

Britain’s financial watchdog, on Tuesday, launched plans for full regulation of cryptocurrency from 2026.

This move is coming amid booming demand for highly volatile bitcoin.

The world’s biggest cryptocurrency has surged in value since Donald Trump won the US presidential election in early November.

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However, bitcoin has also experienced huge losses in recent years.

Trump has pledged to make the United States the cryptocurrency capital of the world through supportive regulations, pushing bitcoin towards the symbolic record $100,000 mark.

Britain’s Financial Conduct Authority on Tuesday announced a roadmap featuring consultations on cryptocurrency regulation ahead of “final rules” by the watchdog in 2026.

The FCA also plans by early next year rules on “stablecoins”, which are backed by a traditional currency, most often the dollar.

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Crypto ownership has grown to 12 percent of adults in the UK, according to data from the regulator published Tuesday.

“Currently, cryptocurrency remains largely unregulated in the UK and high-risk,” the FCA said.

“Our research results highlight the need for clear regulation that supports a safe, competitive and sustainable cryptocurrency sector in the UK,” said Matthew Long, director of payments and digital assets at the watchdog.

The FCA last year tightened rules over the promotion and selling of cryptocurrency. This include measures to ensure companies promoting these digital assets give “clear warning” that customers could lose money in “high risk” investments.

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News of the FCA roadmap came as a cross-party parliamentary group on Tuesday slammed the watchdog for its activity over the past three years, claiming it is “not fit for purpose”.

MPs and peers in a report urged an overhaul after concluding the regulator “is seen as incompetent at best, dishonest at worst”.

They added: “Its actions are slow and inadequate, its leaders opaque and unaccountable.”

It follows a series of recent scandals that have marred the financial sector in Britain.

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“We sympathise with those who have lost out as a result of wrongdoing in financial services,” the FCA said in response.
“However, we strongly reject the characterisation of the organisation,” it added in a statement.

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Verbatim Magazine Honours Prof Nnamchi For Legislative Excellence, Quality Leadership

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Hon. Professor Paul Sunday Nnamchi, was among the twenty eminent Nigerians including seating governors of four states who were honoured by the Verbatim Magazine at the Late General Yaradua Centre recently.

He was recognized by the investigative journal for excellence and quality leadership in legislative performance for year 2024 based on his contributions in the plenary of the House of Representatives, the number of Bills and motions he has sponsored so far.

Professor Nnamchi was last year rated the most performing legislator from the southeast by the authoritative organ of the National Assembly, “The Order Paper” which evaluates the work rates of the legislators annually.

As at the end of March, 2025, the lawmaker who represents Enugu East/Isi Uzo Federal Constituency in the 10th House of Representatives has sponsored thirty-six Bills and over twenty impactful motions in the House. Over twenty of the Bills have passed second reading.

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Speaking at the well attended Verbatim 13Th Anniversary Lecture delivered by the Executive Governor of Nasarawa State, Engineer Abdullahi Sule, the magazine Editor, Mr Tobs Agbaegbu, affirmed that the awardees were carefully selected through in-depth evaluation and investigation by its team of editors.

He stressed that the magazine has established itself as a leader in investigative journalism and as such would not be associated with questionable awards that lack merits.

The award recipients cut across private and public sectors’ practitioners, governors, legislators, military officers and journalists all of whom had distinguished themselves in leadership as Trail Blazers in their chosen careers.

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Just in: Presidency Insists INEC Chairman, Yakubu Not Sacked

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By Kayode Sanni-Arewa

The presidency has debunked reports that the INEC Chairman, Mahmood Yakubu has been replaced, describing it as ‘fake news.’

“Disregard any fake news making the rounds about the replacement of the INEC Chairman.

“Any such announcement will come from the SGF’s office or the any other official source.” – O’tega Ogra, Senior Special Adviser to President Bola Ahmed Tinubu on Digital Media and New Media.

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Just in: Saudi Arabia Suspends Visa Issuance to Nigeria, 13 Other Countries

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By Kayode Sanni-Arewa

Umrah, business, and family visit visas for citizens of 14 countries, including Nigeria, Egypt, and India, as part of preparations for the upcoming Hajj season.

Officials speaking to ARY News said, “The suspension of Umrah, business, and family visit visas is aimed at preventing unregistered individuals from attempting to perform the pilgrimage.”

The move comes amid concerns over the rising number of pilgrims attempting to join Hajj without official permits. In recent years, many visitors have overstayed their visas, contributing to overcrowding and serious safety risks.

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Authorities also expressed concern over the misuse of business or family visit visas by individuals who enter the Kingdom and work illegally, a violation that “disrupts the labour market and breaches visa conditions.”

The Saudi foreign ministry stated that the new measures were implemented “to streamline travel procedures and enhance safety during Hajj.

It added, “Individuals found to be staying in the Kingdom illegally may face a five-year entry ban.”

The countries affected by the ban are India, Pakistan, Bangladesh, Egypt, Indonesia, Iraq, Nigeria, Jordan, Algeria, Sudan, Ethiopia, Tunisia, Yemen, and Morocco.

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