United Kingdom | Publication | February 2024
The most recent Finance Bill, which sets out the legislation required to abolish the lifetime allowance, completed its House of Commons stages and had its first reading in the Lords on February 6, 2024. It is expected to complete all its Parliamentary stages by February 21, 2024.
Somewhat surprisingly, having said they would reverse the legislation if they won the next General Election, the Labour Party did not oppose the Bill in the House. The Opposition has, however, published a Plan for Financial Services which sets out in general terms only its intentions for an “in-Government pensions and retirement savings review”.
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On 29 November 2024, the first tranche of sweeping Australian privacy reforms under the Privacy and Other Legislation Amendment Bill 2024 (Cth) (Bill) passed both Houses of Parliament.
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A value-referenced crypto asset (VRCA, commonly known as a “stablecoin”) is a crypto asset designed to maintain a stable value over time by referencing the value of a fiat currency, such as the US dollar, or any other value or right, or a combination thereof. It can be used as a medium of exchange or as a store of value that is less volatile than other crypto assets.
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