Former Chancellor says UK is falling behind on crypto opportunity

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. Philip Hammond, who served as the U.K’s Chancellor of the Exchequer from 2016 to 2019 told Bloomberg that there has been a distinct lack of direction and cohesion when it comes to crypto policy. “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…

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UK chancellor names CBDC on list of financial reforms for Treasury

Rishi Sunak, chancellor of the Exchequer for the United Kingdom, has included cryptocurrencies and stablecoins on the list of financial reforms the government plans to undertake in the next few years. Speaking to lawmakers at the Lord Mayor of London’s residence on Thursday, the chancellor said the U.K. government would be implementing recommendations to establish the country as a center of fintech innovation and business. Though Sunak said the U.K. would be protecting its citizens’ access to cash, he added authorities would be monitoring updates in finance and technology as…

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