“This news about the UK recognising cryptocurrency as a regulated financial instrument is moving the needle in the right direction. I’ve said before that crypto needs to shed its volatile image and mature as a financial framework in its own right. With 10% of the population in developed countries holding various cryptocurrencies, the right regulation is required to ensure political stability.
Regulation is a positive step for crypto in the UK. The right regulation enhances freedom and provides potential for economic growth. If we want crypto to progress, there is only one way forward – the industry needs to help governments to shape regulation. We can expect regulation to promote consumer and investor protection, market integrity, and financial stability, leading to increased legitimisation of the sector. This is the next frontier and a mark of the industry’s success.”