Industry insiders: Britain's crypto regulation is suffering from policy delays and has significantly fallen behind the EU and the United States
Internet reports that the UK is losing its early advantage in the field of digital asset regulation due to "policy procrastination," and experts warn that the country has significantly fallen behind in the pace of regulation by the European Union and the United States. According to a recent blog post from the Official Monetary and Financial Institutions Forum (OMFIF), an independent think tank, the UK is squandering its first-mover advantage in distributed ledger finance. OMFIF Chairman John Orchard and Editor of the Digital Currency Institute Lewis McLellan criticized in an article titled "The UK continues to miss DLT financial opportunities" that the "official launch of the regulatory system" section of the UK's Financial Conduct Authority (FCA)'s "Cryptography Roadmap" obviously lacked a specific date and only vaguely mentioned a possible point in time after 2026. This is in sharp contrast to the vision of the UK being expected to become the "gold standard" for crypto regulation after leaving the EU. In contrast, the European Union's Crypto Asset Markets Regulation Act (MiCA) has come into effect, and the U.S. Senate has also passed the U.S. Stabiloin National Innovation Guidance and Establishment Act (GENIUS Act), establishing a federal regulatory framework for stablecoins. Experts pointed out that the UK's lack of a viable regulatory framework "hinders its ability to adapt to the possibility of comprehensive financial integration."
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