I wonder if exchange prices will be ‘locked in’ before 24 hour timer starts?
Crypto: 24-hour cooling-off period included in ad overhaul https://www.bbc.co.uk/news/technology-65834528
16 thoughts on “The UK may soon not be able to buy the dip! Regulation to enforce 24hr cooling off period.”
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They are just protecting the users /s
Seems like the UK is getting a little too trigger happy with their purchases. Maybe they need some time to think about it before swiping that card!
Sounds like the UK is gonna need to start making some impulse purchases before this regulation goes into effect!
The harder they make Bitcoin to buy the more people will realise they need it.
This is outrageous! How dare they limit my freedom to buy and sell as I please? It’s just another example of the government overstepping their bounds and interfering in our lives.
Hope we get a 24hr cooling off period before paying taxes!
Not really a big deal – it’s just a 24 hour cooling off period before you can place your first buy order on an exchange. The article reports that 5 million people in the UK hold crypto which is pretty surprising!
Tap global is the answer to most of the headwinds crypto is facing right now. Easy on and off ramp, fully insured and regulated, listed on the UK stock exchange
https://www.withtap.com/
Only an issue for CEXs.
Looks like we’ll just have to set limit orders instead
Fucking clueless UK as ever..
FYI, Bisq, Robosats, HodlHodl, LocalCoinSwaps and Agoradesk will allow any brit to buy and sell digital assets with or without their governments consent.
Maybe this will be the cycle where people finally understand P2P is the way crypto is meant to be dealt with.
Imagine thinking people won’t use DeFi
It’s only for ‘new’ users.
What is more worrying is that as someone who has sent money to crypto exchanges for a ver long time, is now my transaction is put on hold and some deranged Karen from the bank is telling me that Crypto ruins lives and destroys families. Yes this is true.
TBH if I was just dipping my toes in the water, I’d have probably said cancel the payment. Instead I just told her to send the money but it still took 10 minutes of questions and arguing. Such like “How do you know your not getting scammed?, Have you ever made a withdrawal? Nobody’s put you up to this? etc, etc” It was ludicrous and slightly intimidating.
HBOS before you ask. Edit: Now LLoyds banks I believe.
UFB. A country dictating how long you have to wait to invest your own money!
They keep mentioning that bitcoin is like gambling but they will certainly not regulate our gains the same as winnings from gambling (0% tax).