Partner Richard Cannon comments on the recent report from the All Party Parliamentary Group for Crypto and Digital Assets, which calls for urgent regulation of the sector.
“It is important that the APPG’s report recognises not only the risks but also the opportunities that crypto presents.
“With the rapid growth of the crypto and digital assets sector, it is crucial that more stringent regulation is brought in to mitigate the dangers of fraud and financial crime.
“As the APPG report suggests, speed is of the essence with this regulation, as the UK must act fast to ensure that it delivers comprehensive, world-leading regulation that establishes the UK as a leader in crypto regulation and cements its position as finance and technology hub. This must be backed up with the resources for UK regulators – and the government should certainly consider adopting a self-funding sector model.”
21 Sep 2023