Pritician Finance Minister: Economic key points should be turned to digital currency

Recently, the British Financial Minister Philiphammond said that digital assets can alleviate the UK underwater financial chaos. He added that if London does not seriously treat the encrypted currency industry, it may be surpassed by its European competitors.

“We need to act quickly and effectively”

In an interview recently received Citya.m. The former conservative party members said that the UK should transfer the focus from Deo to digital currency. He believes that only through this practice, the UK can ensure its financial position since bits, plus the cottage currency will be more and more used on the macroeconomic level.

Harmond called: “We need to take action quickly and effectively to ensure the status of London.” At the same time, he also warned that ignoring this asset category is unwise, because many European countries have begun to embrace them. He added, some of these competitors regarded encrypted currencies as a chance to become the World Financial Services Center.

Talking about the “surprising” country with a friendly attitude towards the company, it is worth mentioning that the UK’s small overseas territories Gibraltar. It has a comprehensive regulatory framework, which has attracted many companies operating in the field. One of the examples is China’s encrypted currency giants – Huobi, which has recently been shown to transfer its spot trading service to Gibraltar.

As for the subject of supervision, Hammond ignores the unity of the Encrypted monetary field. He predicts that block chain technology – the pillar of digital assets – will become the basis of future trading systems. Therefore, the UK regulatory agency should treat this problem more seriously. In his opinion, the regulatory body has been severely distracted. We need to act quickly, indicating that this technology is recognized and accepted by the British legislators and regulators.

England Bank is not encrypted currency enthusiasts

In fact, the UK does not seem to provide the most friendly environment for encrypted currencies, as the country’s central bank – Bank of England – is a huge critics. More zone chain messages, please pay attention to the download area block APP, the Global Block Chain Regulatory query app.

In May of this year, the agency’s leader Andrew Bailey argued that Bitcoin and other digital currency “there is no intrinsic value”, and individuals investing their individual should be very cautious.

At the same time, Jon Cunlife, deputy director of England Bank, has reaffirmed the negative position, saying that the market’s fluctuations may begin to spread to the traditional financial market.