Coinbase’s CEO Brian Armstrong appears as bullish as ever on crypto regulations in the UK.
“The UK is moving fast on sensible crypto regulation to both drive economic growth AND consumer protection,” he said in a tweet picturing himself alongside the UK’s Economic Secretary and City Minster Andrew Griffith. “Excited to keep investing in the UK.”
The crypto exec also took the occasion to boost a bit of thought leadership from the exchange, which describes the UK as a “Web3 innovation hub.”
Griffith, for his part, has reportedly revived a body called the Asset Management Taskforce.
Sky News reported that the body will be investigating how to deploy blockchain technology across the fund management industry, among other objectives.
Coinbase has also provided nine recommendations that would cement the "UK as a leader in the sector."
These recommendations included ensuring that banks remove blanket bans on purchasing crypto, establish a good regulatory framework, and to set out a plan to bring decentralized ID into fruition.
The post also read that “things are happening in Europe that are edging the region ahead when it comes to embracing the digital economy,” citing the upcoming Markets in Crypto Assets (MiCA) regulations up for vote this week.
MiCA: What Europe’s New Crypto Rules Mean for the Industry
After more than two and a half years of discussions and adjustments, the European Union looks set to pass its landmark crypto regulations. The comprehensive suite of new rules is slated for a vote on the week of April 17. Markets in Crypto Assets (MiCA) is part of a broader package within the EU aiming to update the bloc’s approach on several digital financial fronts. MiCA itself focuses on crypto-asset providers, and the obligations they will have to declare. It also puts in place hefty require...
Coinbase, Andrew Griffith, and the HM Treasury did not immediately respond to Decrypt’s request for comment.
Crypto crackdown in the US
The bullishness for all things across the Atlantic comes amid a hefty crackdown on the crypto industry stateside.
Just yesterday, the SEC charged Bittrex and its CEO for operating an unregistered securities exchange. Prior to that, Coinbase was issued a Wells notice, which means the SEC formally notified the company of an impending enforcement action, over the crypto exchange’s staking products.
SEC’s Coinbase Insider Trading Case Is Coming to a Close
Ex-Coinbase product manager Ishan Wahi and his brother Nikhil could soon reach a settlement with the U.S. Securities and Exchange Commission over insider trading charges against them, according to court filings. The SEC and the Wahis filed a joint motion on Monday asking that the Commission be given more time to respond to the Wahis’ November motion to have the charges dismissed. “At this time, the SEC has an agreement in principle with Ishan Wahi to resolve all of the SEC’s claims in this matt...
And, back in February, Kraken settled similar charges with the SEC and paid a $30 million fine.
