UK pushes crypto efforts forward through financial services reforms
The United Kingdom’s Chancellor of the Exchequer Jeremy Hunt laid out a number of reforms aiming to “drive growth and competitiveness” to the country’s financial services sector, including efforts that support the crypto space.
Topics mentioned in the announcement include consulting on proposals for the establishment of a central bank digital currency (CBDC), extending a crypto tax break for investment managers, bringing stablecoins into the regulatory perimeter, and creating a sandbox that lets firms and regulators test new technologies.