City Says UK Should Lead Global Regulation Of Crypto-Assets

Law360, London (May 24, 2021, 10:32 PM BST) -- London's financial district urged the government on Monday to use its post-Brexit freedom to "steal a march" over competitors by driving innovation in how the country regulates crypto-assets.

TheCityUK, a financial industry trade group, said that the government should use its new regulatory powers to get ahead in the "fierce global race" to attract companies that offer crypto-assets such as Bitcoin and Ether. Britain must look to become a world leader in the sector, which is growing quickly, the group said.

Britain left the European Union's regulatory orbit on Dec. 31, meaning it now has the freedom to pen its own regulations....

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