Former Chancellor says UK is falling behind on crypto opportunity
The former chancellor said there was a particular lack of regulatory structure in regards to digital asset trading. 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. “Particularly in the area of digital asset trading, I feel that the UK has missed a trick [...] We are getting very....
Related News
Former U.K. chancellor of the exchequer Lord Hammond has reportedly warned about investing in cryptocurrencies. He said, “It’s gambling money,” noting that “people should be extremely cautious” and “Many regard them as closer to gaming than serious investing.” Nonetheless, he is currently serving as a senior advisor to a crypto firm.
Former British Chancellor of the Exchequer Warns About Investing in Cryptocurrency
Former British Chancellor Lord Philip Hammond has reportedly urged investors to be “extremely cautious”....
The budget is one of the most important days on the UK political calendar as the Chancellor declares new taxation rules, new financial measures to help grow the economy and sets the public spending levels. It is often held in March and is closely watched due to its potential to affect the wealth of millions of individuals and businesses. A spokesman for the UK Treasury revealed for CCN that a study was being undertaken, led by the Treasury working together with different government agencies, on Bitcoin's potential for innovation on financial commerce and Bitcoin's potential risk. The study....
UK Chancellor George Osborne who has previously declared his intention to explore digital currencies like Bitcoin has now reiterated his stance during a recent conference in London. The UK's Chancellor of the Exchequer, George Osborne spoke about digital currencies at the Bank of England's Open Forum conference. The Chancellor reiterated the UK Treasury's recent stance of welcoming Fintech investment and opening the doors for the UK to be a major destination for new financial technology. As reported by The Financial Times, Osborne said: I want the U. K. to be the global center of fintech.....
British Chancellor of the Exchequer, George Osborne, Acknowledges Bitcoin. Today, the U. K.'s Chancellor of the Exchequer, George Osborne, bought bitcoins for the first time from Cointrader.net's Bitcoin ATM powered by Robocoin. Mr. Osborne declared that it was his intention to explore the potential for using digital currencies, such as Bitcoin, to better access finance for small businesses. He went on to explain how regulation of virtual and digital currencies, and the risks associated with them, were to be explored in a bid to boost the UK's Financial Technology (FinTech) sector. British....
George Osborne, the UK's Chancellor of the Exchequer, has issued new remarks about digital currencies. Speaking at the Bank of England's Open Forum conference earlier this morning, Osborne re-emphasised his desire for London to be a world leader in both FinTech and digital currencies. According to Bloomberg, Osborne commented on the potential of the "once dismissed" alternative currencies, saying: "[Digital currencies] may now well play a big part in our financial future." During his opening remarks, the Chancellor also touched upon the topic of innovation, noting that the UK was committed....