UK Minister commits to greater crypto Industry engagement

01/31/2023

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The Minister of Financial Services of the UK, Andrew Griffith, said that he plans to introduce more active interaction with the crypto sector.

”We will propose timely, reasonable and balanced regulation to ensure the safe use of this technology," he said.

Griffith recognizes the importance of speed in the case of regulating the UK crypto industry and seeks to eliminate concerns about the slow registration processes of the Financial Supervision Authority: “We cannot have an internationally competitive financial system if it has a slow delay, if it does not work at high speed.”

He also added that sometimes consultative processes take a little more time than can be allowed in such a rapidly developing field.

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