A former Chancellor of the United Kingdom has raised concerns the country is slipping behind its rivals in the European Union when it comes to the regulation of crypto.
“Particularly in the area of digital asset trading, I feel that the UK has missed a trick [...] We are getting very close to the point where it will be too late. Other jurisdictions are racing ahead of us.” He also stressed that the development of digital trading infrastructure will be key to turning the U.K. into a hub for trading tokenized traditional assets, such as tokenized equities and tokenized bonds.
“The jurisdictions that have embraced this technology that have regulated it properly and effectively will be the ones that develop these markets and they will become the new hubs.”in May to introduce legislation to regulate the crypto industry.
Disappointing but not surprising.
The cost of electricity in the UK basically prevents it anyway.
That’s a shame but sadly not surprising. At least the people are on it.
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