Crypto: What if the UK becomes the next European hub?

While the European Union is multiplying initiatives to regulate cryptocurrencies uniformly, the United Kingdom is aiming for much more. The Liz Truss government would consider making the country a privileged country for sector participants. Treasury Secretary Richard Fuller announced this on Wednesday. He also took the opportunity to provide some details of this policy.

Financial services in a new era

The goal of the new head of cryptography is to attract project managers and all those involved in innovation. To appease them, various bills are being drafted to promote the proper conduct of their activities in the field. The first of these relates to financial services and markets. It is aimed, in particular, at regulating the use of cryptocurrencies and stablecoins as a means of payment. Mr. Fuller also mentioned the fight against crypto-crime, which will be framed by another bill.

With these two instruments, one serving the cryptosphere and the other protecting the interests of users, the UK hopes to become the next European crypto hub. Mr. Fuller expects, in particular, that the policy will propel the country’s financial services into a new era.

“By making this country a welcoming place for crypto technologies, we can attract investment, create new jobs, benefit from tax revenue, create a wave of revolutionary new products and services, and improve the current state of financial services. era. “, he stated.

Like the rest of Europe, the UK intends to adopt rules governing the use of cryptocurrencies. However, this should allow developers and industry innovators to settle there to help the country become a crypto powerhouse.

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Avatar of Luke Jose Ajinaku
Luke Jose Ajinaku

The failed cryptocurrency investment in 2017 not only did not dampen my enthusiasm, but only increased my enthusiasm. Therefore, I decided to study and understand the blockchain and its many applications, as well as pass on information regarding this ecosystem with my pen.

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