Is this the consequence of a return to the rise in the cryptocurrency market, or a deeper desire? Be that as it may, the United Kingdom seems determined to pursue its ambition of becoming a territory favorable to the development of a digital economy based on cryptocurrencies. And this even if its own banks are apparently trying to block the way to this national dynamic.
A fact highlighted in a recent report published by the Sky News site about a relaunch by the British Treasury services of the working group “Asset Management Taskforce. » With a clear desire to focus on informed regulation of the cryptocurrency industry in collaboration with the private sector. An approach in which the Coinbase platform “seriously” fits.
UK – An “Innovation Hub for the Web3 Economy”
The effective implementation of the European “Markets in Crypto-Assets” (MiCA) regulation seems to be taking shape. And it could well be the beginnings of a “seismic shift in the way (Europe) uses and thinks about money,” according to Brian Armstrong, founder and current CEO of the Coinbase platform. Leading this momentum, the UK is touted as “one of (its) fastest growing user markets. »
A context strongly fueled by recent statements by British Treasury Secretary Andrew Griffith about his post-Brexit desire to strengthen the UK’s competitiveness in the asset management industry. And this obviously without automatically excluding cryptocurrencies about which will be examined, according to the Sky News media, “trends in tokenization, artificial intelligence (iA), distributed ledger technology and blockchain. »
« Sources said Mr Griffith would launch a technology task force looking at ways to strengthen the UK’s asset management industry – one of the most important drivers of economic activity in the City . It will examine trends in tokenization, artificial intelligence, distributed ledger technology, and blockchain, and explore their potential deployment in the fund management industry.. »
Obviously a step supported by the Coinbase platform, whose CEO is due to speak at an upcoming fintech conference in London. An event during which he is expected to provide nine recommendations on how the UK could “consolidate its place as a Web3 hub. The latter essentially focus on better collaboration between the banking and fintech sectors, the digitization of the economy and a favorable regulatory framework for stablecoins.
Issues apparently already discussed between Brian Armstrong and Andrew Griffith during a recent encounter official. With the main point addressed on this occasion by the boss of Coinbase, the complicated relationship between traditional banks and the cryptocurrency industry. And that just might be the major problem standing in the way of that long-awaited crypto hub…
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