People familiar with the matter: UK election will not derail cryptocurrency plans
Golden Finance reported that according to people familiar with the matter, the British general election will not undermine the country’s progress in regulating the cryptocurrency industry. An election date has not yet been announced, but the country is expected to hold it this year. The ruling Conservative Party, which has been in power for nearly 14 years since first being elected in May 2010, has launched a series of cryptocurrency measures. The party plans to make the country a cryptocurrency hub in 2022 and subsequently proposed a Markets Bill that would enable cryptocurrencies to be regulated as financial activities by the Financial Conduct Authority (FCA). Adam Jackson, policy director at Innovate Finance, said in an interview that the country needs secondary legislation to formally task the FCA with regulating cryptocurrencies, including stablecoins. This is what the government says they will do, we have not heard why this is not feasible. Therefore, all things being equal, they should have these powers at the time of national elections.
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