When the UK government started a study group of scriptaction

According to information posted on the official website of the UK government, may 21 was held the first meeting of a new working group at the British government, whose objective is the study of the influence of cryptocurrency assets, identifying potential benefits and potential problems associated with application of technology of the blockchain in the financial sector, the development regulations of the cryptocurrency sphere.

The «Working group on cryptocurrency assets» includes the Director General for financial services of Her Majesty’s Treasury Katherine Braddick (Katharine Braddick), Executive Director financial supervision authority (FCA) and Andrew Bailey (Andrew Bailey) and Deputy Governor of the Bank of England Dive Ramsden (Dave Ramsden).

«Cryptocurrency assets have become an area of increased interest for markets and regulators around the world, including the FCA . We look forward to working together with our colleagues, representatives of the Bank of England and the Treasury in the framework of the task force on the development of regulatory policy for the cryptocurrency assets», — told reporters, Andrew Bailey.

«The technology underlying the cryptocurrency assets can benefit as a separate financial system and the economy as a whole. In close cooperation with the Treasury and the Office of financial supervision, we will explore the opportunities and potential risks that carry these technologies,» said Dave Ramsden.

The meeting had the following objectives:

  • To investigate the influence of cryptocurrency assets (cryptocurrencies).

  • To explore the possibilities and potential risks of applying the technology of the blockchain in the financial sector.

  • Assess the need and level of regulation of the cryptocurrency sphere.

In their research, the group will focus on the results already undertaken by the British government and the regulators work, as well as «new views» of researchers, consumer groups, trade organizations and individuals in this industry.

The working group was formed in March as part of a broader «Strategy in the Finance sector». It is planned that the next meeting will be held in July, and the results of their work they will report in the third quarter of this year.

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