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Former Chancellor says UK is falling behind on crypto opportunity

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A former Chancellor of the United Kingdom has raised concerns the country is slipping behind its rivals in the European Union when it comes to the regulation of crypto.Philip Hammond, who served as the U.K’s Chancellor of the Exchequer from 2016 to 2019 told Bloomberg that there has been a distinct lack of direction and cohesion when it comes to crypto policy. “The problem is that there are no regulations, and nobody quite knows where they stand, right?

It's a bit of a wild-west, and has gained, frankly, a mixed reputation, particularly among policymakers and politicians and the public.”He also stressed that the development of digital trading infrastructure will be key to turning the U.K.

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