The former British health secretary said he wants the British to be able to decide for themselves whether to invest in digital currencies – without regard to regulators.
Matt Hancock stated this in interview City AM The politician said that he considers it his duty to make the British fall in love with cryptocurrencies. If the UK adopts digital currencies, Hancock says, it will help put in place an effective regulatory system for the industry.
According to him opinion, if regulators pay more attention to the crypto industry, it will not only accelerate the development of the country, but also make the financial systems more transparent, and also significantly reduce the crime rate. Hancock advocates the so-called liberal digital currency regulation system, but agrees that officials should still adhere to modern standards, which “may not be liberal at all.”
The former minister acknowledges the existence of high risks for crypto investors and believes that the Financial Conduct Authority (FCA) has an obligation to warn investors about these risks. However, the politician considers it his duty to protect the right of investors to invest their money in risky products for a long time and calls it “protection”. Hancock himself does not invest in digital currencies.
In March, Bloomberg reported that due to tightened FCA rules, many cryptocurrency companies began to leave the UK. The regulator said that companies that do not comply with the rules can withdraw the application and appeal the refusal.
Source: Bits
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