While the US moves forward with institutional adoption, allowing entities like BlackRock BLK to back bitcoin products, the UK's stringent regulations stifle its own companies. This situation represents a policy contradiction and has sparked widespread criticism, countering Prime Minister Rishi Sunak's vision of making the UK a 'crypto hub'. In the very same week, the U.K. imposed stringent regulations that significantly restricted the purchase of bitcoin. U.K. citizens might turn to unregulated firms to buy bitcoin and other less secure crypto assets, exposing them to greater risks than if the FCA had adopted a more nuanced approach.". The Fallout Of UK's Crypto RegulationsThe UK's approach to crypto regulation, aimed at protecting investors and fostering a safe investment environment, has had unintended consequences.

Source: Forbes January 11, 2024 17:55 UTC