The UK has to get its crypto house in order
The post The UK has to get its crypto house in order appeared on BitcoinEthereumNews.com.
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The challenge for jurisdictions, such as the United Kingdom, that are keen to grow their digital assets sectors is to develop a regulatory framework that supports this growth while ensuring sufficient protections are in place for investors—particularly retail investors. Developing such a regime takes time and careful consideration from the regulators, but no jurisdiction can afford to stand still—particularly while the American question remains unanswered. As the world’s largest economy, it should be no surprise that the US is a key—if not the key—market for the cryptocurrency industry. Indeed, it is estimated that as many as 93 million adults from the US already own cryptocurrency, with a majority hoping to extend their crypto holdings. However, the regulatory landscape across the US is currently fragmented. To some extent, this reflects the federal system, as well as the difficulties of passing new legislation in a space that is so politically contested. However, it also reflects radically different views amongst regulators and courts as to the interpretation of the laws and regulations that exist. The SEC and CFTC have taken successful enforcement action in the space, but the SEC, in particular, has faced pushback from the courts. However, newly elected president Donald Trump intends to change this fragmented picture. Having once been a vocal skeptic about digital assets, Trump now seems to be determined to prove that there is no zeal greater than a convert’s. He pledged to make the United States Bitcoin (BTC) “superpower of the world’ over the summer and recently has been enthusiastically promoting crypto on social media. Is the UK at a standstill? Following Trump’s return to the Oval Office, we can expect to see cryptocurrency…
Filed under: News - @ November 13, 2024 12:25 pm