• Written by: John Kaczur
• Sun, 27 Mar 2022
•   Russian Federation

Will Britain’s crypto regulation plans be as positively received as the recent U.S. announcement? Scoop: UK Chancellor Rishi Sunak will soon reveal plans to regulate the crypto market, sources say. The move is being viewed as a response to US President Joe Biden’s executive order on cryptocurrencies. https://t.co/wkJdgKklVZ — Ryan Browne (@Ryan_Browne_) March 27, 2022 According […] The post Britain’s Crypto Plans To Be Revealed In A Matter Of Weeks appeared first on CryptosRus.

Britain’s Crypto Plans To Be Revealed In A Matter Of Weeks

Will Britain’s crypto regulation plans be as positively received as the recent U.S. announcement?

Scoop: UK Chancellor Rishi Sunak will soon reveal plans to regulate the crypto market, sources say. The move is being viewed as a response to US President Joe Biden’s executive order on cryptocurrencies. https://t.co/wkJdgKklVZ

— Ryan Browne (@Ryan_Browne_) March 27, 2022

According to a report, Britain will release their plans for regulating the crypto industry. British Finance Minister Rishi Sunak is expected to make the announcement in the coming weeks. It’s considered by sources as a response to the recent announcement from president Joe Biden on crypto regulation in the U.S.

Recommended: The Real Danger Of Crypto Regulation: Making Crypto Look Cool

• The U.S. announcement was met with surprising positivity from the crypto industry. The industry had long worried that Biden, along with Treasury Secretary Janet Yellen, would work to suppress the industry via draconian legislation.
• However, the announcement largely focused on eliminating scams —  which no one likes — while ensuring the industry is given the space to grow and thrive.
• Also, according to the report, a source says that the British plans are likely to be favorable as well. Britain in the past has been rather standoffish with cryptocurrency. 
• Some sources also have expressed frustration of late for the lack of a similar announcement from Britain.
• Crypto exchange Gemini — led by the Winklevi — is in talks with the country. Though, it’s unclear how exactly they will be involved, but it might have something to do with their stablecoin, GUSD. 

The post Britain’s Crypto Plans To Be Revealed In A Matter Of Weeks appeared first on CryptosRus.