January 29, 2023

UK Treasury: The government will work more actively with the crypto industry

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UK Treasury: The government will work more actively with the crypto industry

The leadership of the main financial department of the United Kingdom believes that cabinet colleagues are still experiencing difficulties with the speed of decision-making in relation to the crypto industry.

British Chancellor Andrew Griffith(Andrew Griffith) announced plans to resume the active involvement of the government in the development of this new sector of the economy. The agency is going to hold six roundtables with industry participants during the year to continue working on bills related to cryptocurrencies.

The official recalled the document on the rules forcryptocurrency industry, which previously promised to be published before Christmas. So far, the document is not ready, since there were difficulties in coordinating between different departments, but this is a matter of several weeks, not months, the Ministry of Finance assures.

“We are all striving for clarity in regulationthe crypto industry, but we want laws to be adopted promptly, so that regulators work at the same pace. After all, we won't be able to compete internationally if our regulators are slow to make decisions,” says Griffith.

In April last year, the UK authorities came out with the intention of making the country a global center for cryptocurrencies. However, a year has passed, and since then, little progress has been made.

Formerly the National Agency for CombatingUK Crime Authority (NCA) said it intends to form a special team that will investigate crimes related to digital assets.