The Ministry of Digital, Culture, Media and Sport of Great Britain intends to turn the country and its capital London into a “cryptocenter”. This was announced by the head of the ministry Chris Philp.
The authorities are going to carefully consider the issues of possible money laundering or circumvention of sanctions by using cryptocurrencies, he said.
Philp added that the Treasury, the Bank of England and its Prudential Regulation Authority as well as the Financial Services Authority are working closely together to “get the balance right” in regulation.
Recall that in March, the UK Central Bank published a framework for shaping the regulatory framework for cryptocurrencies, focusing on future risks to financial stability.
In April, the Prudential Regulation Authority increased its budget for the coming fiscal year to combat the risks associated with digital assets.