One-time U.K. Prime Minister hopeful MattHancock is now one of the most prominent crypto proponents in HouseofCommons. He says digital assets are bringing about a 'massive revolution that's going to disrupt finance.' jackschickler reports.
“There's nothing like a bit of Anglo-French rivalry to get British politicians on side,” Hancock said. “What's the point in Brexit if we're not going to make ourselves a more attractive regime than our continental neighbors?”
Whitworth took comfort from pro-crypto remarks from financial minister Richard Fuller made after Truss took office, but is still hoping for higher profile support from the government in the coming months.Hancock himself certainly has a few ideas for what changes need to happen – and isn’t satisfied with existing legislative plans initiated by Sunak back in April.
Alongside changing the FCA’s “demeanor,” Hancock wants to see clarity on how existing rules apply to crypto, tax tweaks and a more favorable capital treatment for crypto to encourage traditional finance players in.Achieving Hancock’s goal, and Whitworth’s, would rely on a calming of recent political turbulence.
“Many are rightly questioning whether crypto has a future at all,” Labour Party Treasury spokesperson Abena Oppong-Asare said during a, adding that the country had become a “center for illicit crypto activity” and that Russian oligarchs had used crypto to avoid western sanctions.
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