Cryptocurrencies, the United Kingdom launches task force on Bitcoin & co.

Cryptocurrencies, the United Kingdom launches task force on Bitcoin & co. New steps forward for the study of reflections on cryptocurrencies.

Cryptocurrencies, the UK launches task force on Bitcoin & co. - Fintech 800x527

Il UK is developing a task force that will examine the risks and benefits of cryptocurrency. This was announced by the Treasury Financial Department, which specified how the task force will include the British Central Bank and the Supervisory Authority on financial conduct, and that this initiative is part of a wider context of interventions on the fintech technology, which also provides for an agreement signed with Australia that will allow British companies operating in the fintech to sell products and services in that destination country.

"I am committed to helping the industry grow and thrive, and our ambitious sectoral strategy will allow us to make the United Kingdom at the forefront of the digital revolution"- said the British finance minister, Philip Hammond, in a note. "As part of this, a new task force will help the United States manage the risks associated with cryptographic resources, as well as exploit the potential benefits of the underlying technology" - he added.

Based on this, both the British and Australian industrial entities of fintech (Innovate Finance and Fintech Australia) will engage in regular summits aimed at providing advice to the governments of both countries. Charlotte Croswell, CEO of Innovate Finance, said that the "fintech bridge"Offers a"eccellente opportunity”For the two countries to share knowledge of the sector. In addition, Hammond specified how the British government's strategy also aims to create standards that make collaboration with banks easier.

However, it appears clear that cryptocurrency are a controversial issue for governments because of their decentralized nature and price volatility. It is also clear that not everyone knows exactly what it is, given and considered that the approaches towards these ecosystems are confused and partial.

The governor of the Bank of England, Mark Carney, called for more industry regulation a few weeks ago, and called price volatility within the cryptocurrency space a "speculative craze". Previously, he had called Bitcoin a failure as a form of money.