Overview
Arvin Abraham, partner at law firm McDermott Will & Emery, said:
“Chancellor Rishi Sunak’s plans to make the UK a global hub for cryptoasset technology should be lauded. The UK is already more advanced in cryptoasset regulation than most countries and its FinTech ecosystem leads the world. These are ideal conditions to nurture the burgeoning cryptoasset sector. Sunak’s acknowledgment that encouraging long-term investment and confidence in this sector will require effective regulation is the right approach to promote growth responsibly.”