Andrew Griffith, the UK Economic Secretary to the Treasury, thinks that crypto and AI play a crucial role in London’s overall offerings. He sees London as a fair mediator in regulating crypto assets, AI, and other emerging technologies.
With UK Prime Minister Rishi Sunak leading, blockchain and crypto technologies are gaining support for their development.
Andrew Griffith, who handles economic matters for the Treasury in the UK, talked about how important crypto and AI are becoming for London in a Bloomberg podcast.
Griffith visited New York to meet with investors and explain how London is evolving into a hub for crypto and AI, aligning with the efforts of UK Prime Minister Rishi Sunak.
Griffith described London as a fair regulator in the emerging areas of crypto assets and AI, positioning it as an “honest broker.” He acknowledged that there might be more dynamic regulatory environments elsewhere, but London stands out for its quality and trust attributes.
The UK government is actively working on regulations for various crypto and digital assets, utilizing powers granted by FSMA 2023. The Bank of England has also outlined its plan for regulating stablecoins and crypto.
Looking ahead to the next election, Griffith outlined his agenda as a series of small improvements, including encouraging more savings in areas like private equity and construction projects.
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