A Golden Opportunity Exists For The U.K. To Become The Global Leader In Crypto

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The United Kingdom is on the brink of becoming a true crypto hub. With Prime Minister Rishi Sunak’s commitment to transform the nation into a science and technology superpower, the government recently announced it would invest an initial £100 million to create a special “taskforce” focused on building the next generation of safe artificial intelligence. 

There is also a huge opportunity for the U.K.’s government to include crypto and blockchain in this initiative, and it’s one that it cannot afford to let slip. Britain has a once-in-a-generation chance to position itself as the world’s friendliest place to do crypto business, and by doing so it can benefit from the creation of thousands of new jobs and a dynamic new sector of its financial economy. 

In recent months, the U.K. has made all the right noises. It has a well-established financial infrastructure that’s among the world’s best, and it’s also widely considered to be a leader in fintech. There has been positive news on the regulatory front too, with HM’s Treasury holding a public consultation on what regulations for the crypto sector ought to look like in order to foster innovation.

Even more encouraging were the recent words of Sarah Pritchard, director of the U.K.’s Financial Conduct Authority, when she stressed the need for collaboration with participants in the crypto industry when considering future regulations. “Let’s work together, to shape our rules and regulations to benefit markets, consumers, and firms as crypto goes from niche to mainstream,” she said. 

There have been numerous headlines recently proclaiming that