Summary:
The UK is looking to transform Britain into a crypto hub.
However, the UK’s digital minister has issued caution as they want to have proper investor protections.
The UK also wants to create measures to guarantee crypto will not be used for money laundering or circumventing global sanctions.
The UK’s digital minister, Chris Philp, has reiterated plans to transform Britain into a crypto hub. At the same time, he issued caution on how to go about it, pointing out the need for measures that protect investors and prevent digital assets from being used in money laundering and circumventing global sanctions.
He said:
We do intend the United Kingdom and London to be crypto centers.
But of course we’ve got to do that in a way that protects the public and in particular pays attention to issues concerning for example money laundering, and making sure that crypto is not used as a way to circumvent things like sanctions.
Minister Philp’s comments complement those made by the UK treasury...
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