UK Government Pushes the Nation to Be a Global Crypto Hub, Says Digital Minister

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UK Government Pushes the Nation to Be a Global Crypto Hub, Says Digital Minister
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The digital minister's latest comment came as a relative relief to the crypto industry in the mid of watchdogs set to maintain regulatory scrutiny on the sector.

The digital minister’s latest comment came as a relative relief to the crypto industry in the mid of watchdogs set to maintain regulatory scrutiny on the sector.

Philp’s latest response came as a relative relief to the industry. However, he insisted that cooperating with regulatory authorities such as the Financial Conduct Authority and the Bank of England is necessary for ensuring that “balance is struck in the right way.” Philp also stressed the importance of having a set of frameworks in place to tackle crimes such as money laundering and using crypto to circumvent sanctions.

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