UK's Digital Asset Hub Ambitions Hindered by Regulatory Challenges
Jonny Fry has highlighted that the United Kingdom's efforts to establish itself as a global digital asset hub are being hampered by political inertia and regulatory friction. According to NS3.AI, Fry pointed out that the divided responsibilities among HM Treasury, the Bank of England, and the Financial Conduct Authority (FCA) are causing delays in creating a unified framework for cryptocurrencies. In contrast, Matthew Long stated that the FCA has already implemented a comprehensive regime that is currently operational.
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