The UK’s digital minister has reiterated the government’s ambitions. Making the UK a global cryptocurrency hub It cautions against potential criminal uses of digital assets. From the report: “We want the UK and London to become crypto centers,” Chris Pilfe told Bloomberg Radio on Wednesday. “But of course we have to do that in a way that protects the public, pays particular attention to issues like money laundering and ensures that cryptocurrencies are not used as a way to circumvent things like sanctions.” The UK Treasury Department announced in April plans to make the UK a global cryptocurrency hub, calming an industry that had been battling with financial regulators over overly stringent guardrails. Retail investors in the UK are banned from using crypto derivatives, and authorities are putting stricter rules on their marketing. […] “The Ministry of Finance is working closely with the Bank of England, the Financial Conduct Authority and the Prudential Regulation Authority to ensure that the balance is in the right direction,” said Philippe.
UK Secretary Wants Country to Be Crypto Hub With Criminals Excluded
Source link UK Secretary Wants Country to Be Crypto Hub With Criminals Excluded