Cryptoasset Regulation: A Crucial Moment for the City of London
The UK must rapidly adapt to new digital assets technologies, such as crypto, to maintain its position as a global financial hub, writes Lord Kulveer Ranger.
The UK is at a critical juncture, facing an unprecedented pace of financial technological change. Recently, Google announced its own blockchain-based payments system, Google Cloud Universal Ledger (GCUL).
With 12% of UK adults already owning cryptoassets and one in four considering buying cryptocurrencies for retirement planning, other jurisdictions are pulling ahead of the UK in the race for digital finance dominance.
London is standing at a crucial junction in the face of today’s unprecedented pace of financial technological change.
- 12% of UK adults own cryptoassets
- One in four consider buying cryptocurrencies for retirement planning
Author's summary: UK must adapt to cryptoassets to remain a global financial hub.