In the UK, lawmakers had a meeting to talk about how to regulate cryptocurrencies. They said that there are some problems with how it is regulated now, but they didn’t say exactly how they want to change it.
The leader of the meeting, Jeremy Hunt, said that they want the UK to be a good place for financial services and that they will have more talks with people in the industry to figure out how to do that. He said that they need “sensible and balanced regulation” so that people can use cryptocurrencies safely.
The UK’s Prime Minister, Rishi Sunak, also said that he wants the UK to be a leader in the cryptocurrency world. He believes that new technology like this can make things better, cheaper, and faster for everyone.
Some people in Europe also want to regulate cryptocurrencies more, like an official from the European Central Bank.
Recently, there have been some problems with a big cryptocurrency exchange called FTX, and that has made people more interested in regulating it.
Some leaders in the industry went to a meeting in Davos, Switzerland, and asked for more rules to be made so that everyone knows what is allowed.
The UK is planning to make its own rules for cryptocurrencies now that it is no longer part of the European Union. They say that they will have a plan ready in a few weeks.
Comments (No)