Can Rishi Make the UK Dishy on Crypto?
A few weeks back, Chancellor of the Exchequer Rishi Sunak had set out it’s plans to make the UK a global cryptoasset technology hub. But with the current economic climate the country is facing, and with Rishi being involved in financial scandal himself, what is the governments true intention for wanting to head crypto innovation?
UK Stablecoin Regulations
On the 4th of April, the UK government announced plans to regulate stablecoins for use in the country as a recognised form of payment. The UK Treasury said “ The government intends to legislate to bring stablecoins – where used as a means of payment – within the payments regulatory perimeter, creating conditions for stablecoin issuers and service providers to operate and invest in the UK”.
London’s Growing Job Market
London has been confirmed as a world leader in cryptocurrency after a jobs platform revealed the number of global employers currently hunting for staff in the crypto sector. The US, as expected, takes top spot in the amount of crypto vacancies – currently standing at 3,893 – but the UK is catching up fast with the second-highest number of advertised roles.
Robinhoods purchase of Ziglu
Robinhood said Tuesday it has agreed to buy Ziglu, a London-based fintech app that allows users to trade bitcoin and several other cryptocurrencies. The acquisition will help in its expansion plans in the U.K. and Europe, the company said. The announcement comes nearly two years after Robinhood halted plans to launch in the U.K. At the time, the company said it was prioritizing its business at home over international expansion.
What we cover in this episode:
- Netflix stocks drop
- UK Government plans for Crypto-asset regulation
- London fast becoming a hotspot for crypto jobs
- Robinhood revives plans to launch in the UK with deal to buy crypto app Ziglu
- Final Thoughts
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