England on the one hand to cryptocurrencies While maintaining its cautious approach, it is trying to take steps to become a crypto money center.
In this context, the current prime minister of the country Rishi Altar Prior to this assignment, he had plans to introduce stable currencies into the country’s payment systems and that he cryptocurrency announced that it aims to turn it into a center.
Speaking to the Financial Times about the UK’s crypto ambitions Former UK Finance Minister Philip HammondHe said the country is lagging behind some rival EU countries in establishing itself as a crypto hub.
Stating that the UK should not let it lag behind other countries on crypto, Hammond emphasized that the country should establish a more effective regulatory regime for digital assets and act faster on this issue.
“The UK needs to be a leader in the post-Brexit crypto space.
However, it has allowed itself to lag behind some rival EU countries. Switzerland is further. The EU is also moving faster.
There must be an appetite to take a measured risk. We need to figure out how to become the preferred place to trade in new asset classes.
In this context, there is a need for better, more effective regulation of the crypto industry.”
Reminding that the crypto custodian Copper, of which he is the new chairman, has withdrawn its license application to the UK Financial Conduct Authority, Philip Hammond “Copper withdrew its FCA application last year and returned to Switzerland. FCA was slow to act on this one. But I hope Copper will return to the UK in the future.” said.
Copper, institutional investors cryptocurrency is a digital asset technology company that enables them to buy, trade and store.
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