UK Is Falling Behind Rivals in Plan to Be Crypto Hub, Executives Say: CNBC
The U.K. needs to work harder at becoming a global center for the crypto industry to avoid falling behind countries like the U.S., industry executives told CNBC.
The country has been saying it wants to be a crypto hub since 2022, before the current Labour government was elected, yet only this week did it start seeking comments on draft legislation for the industry.
The European Union, meanwhile, has already implemented its Markets in Crypto Assets legislation (MiCA), which provides a uniform regime across the bloc, and the new U.S. administration of President Donald Trump is promoting the industry and relaxing regulation.
“If I look at the speed of innovation, I do feel that the U.S. is ahead — although they have their own challenges….
