British trail EU, US encryption regulation, think tank warning

The UK’s unclear regulatory attitude toward digital assets is rapidly criticized by market participants, and some “policy delays” cite the “policy delay” as the main reasons for the European Union and the United States to define digital finance.

On Friday blog posts, John Orchard, Chairman, and Lewis MCLELLAN argued that Lewis McLellan, editor -in -chief of the official currency and financial institution forum (OMFIF), an independent think tank, had been wasteed in the early days of the distributed ledger financing.

Post “The UK continues to miss the boat in DLT finance.” The United Kingdom, which is expected to set up the BrekSheet Post Gold standard for encryption regulation, said, “We are talking about future regulations informally.”

Ochard and McLelan said, “As it stands, there is a date that is noticeably missing in the ‘GO-LIVE’ part of the ‘Crypto Roadmap’ of the financial action authorities.

relevant: In order to become a ‘safe port’ for encryption with new draft rules in the UK,

The EU and the United States introduce encryption regulations.

While the European Union market in the Crypto Assets (MICA) framework is already valid, the US Senate has recently passed guidance and national innovation for Stablecoins or Genius Act, a groundbreaking bill for establishing federal security rails for Stablecoins.

However, the British financial behavioral authorities still lack the confirmed date for the encryption regime. The authors wrote, “The absence of this executable framework delays the ability to adapt to the possibility of all the financial affairs in the UK.”

Criticism also focuses on how to approach British stability. Unlike the United States, which is treated as a separate payment tool in accordance with the genius law, the British regulatory authorities unite them with encryption investment assets and the market with “mystical” movements.

The initial position of the British Bank has deepened concern. The draft of the framework required systematic stability entirely supported by central bank funds. Since then, the bank has begun to ease this position, but has not yet provided a practical model.

relevant: Crypto Fund Domicile Decision: EU or the UK?

The jurisdiction is carried out by encryption regulations.

Meanwhile, other jurisdictions are making progress. In May, Hong Kong has passed a stable bill and is rapidly developing tokenization ecosystems through the project ensemble initiative.

The authors also praised the UK’s new financial model, unlike the attempt to adjust the legacy institution, as a dedicated digital asset regulator by the Virtual Asset Regulatory Authority (VARA) in the United Arab Emirates.