UK official urges House to make England the “home” of crypto

Matt Hancock appreciated the crypto and blockchain industry and noted that such innovations can give huge benefits. 

Crypto and blockchain Industry adoption is surging rapidly. No doubt there are some road bumps in the adoption graph but the majority of the people are in support instead of raising voices against this innovative technology. On one hand, people are taking advantage to generate passive income. Then on the other hand, these technologies are giving lots of results in favor of the Innovations and better future of this world. 

Matt Hancock is former Secretary of State for Health and Social Care and current U.K. Member of Parliament. 

On 27 January, Matt gave a supporting voice in favor of the crypto industry. He asserted to focus the world on the potential of the Fintech and blockchain industry.

Matt added: 

“The UK can be the home of innovations like FinTech and Cryptocurrency. Done right we can increase transparency and lead in a new world-changing technology.”

Through the speech, Matt pointed out the benefits of this innovative industry in degrading the crimes and boosting the economy financially. For this, he urged the government to bring better policies and frameworks for this industry. 

” (Crypto and blockchain) can not only be an economic driver, but also help cut fraud and financial crime because of the transparency that it brings,” Matt said, adding that “these innovations have the potential to disrupt finance, just as social media has disrupted communication, or online shopping has changed retail.”

The UK can be the home of new innovations like FinTech and Cryptocurrency.

Done right we can increase transparency and lead in new world-changing technology.

My question in the Commons earlier pic.twitter.com/Hsr8QtLxqB

— Matt Hancock (@MattHancock) January 26, 2022

It is worth noting that a statement in favor of the crypto industry is coming by Matt Hancock just 15 days after MPs and officials planned to launch a group dedicated to crypto and fintech Innovation, growth and policies. 

Lisa Cameron, Scottish National Party MP, is chairing the crypto group to bring the better ability to the government to introduce a better regulatory framework on the crypto industry and also aimed to approach a better global policy.

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