British Secretary of the Treasury and Economy Andrew Griffithsaid during the session that took place on June 13 that the government has no plans to appoint a crypto president.
The session was attended by early June asking the government to appoint an official to oversee crypto-only regulation. Crypto and Digital Assets Entire Parliamentary Group (APPG) hosted. The UK treasury had previously proposed that crypto assets be regulated as financial services. A draft law on this subject is currently awaiting approval from the parliament.
Griffith: Committed to Defending the Industry
Andrew Griffith said: “The government has no plans for a specific head of crypto, but as finance minister and as someone in charge of financial regulation in the UK, I am committed to rightfully defending the industry.” Griffith has previously said that he wants the country to become a crypto hub.
Griffith also reiterated the government’s view to regulate crypto as financial services, after MPs in the British Parliament’s Treasury Selection Committee suggested that crypto should be regulated like gambling.
Griffith: “There have been suggestions by fellow parliamentarians that crypto assets are more like gambling, which I reject is not the government’s view. “The right regulators are financial regulators who have deep expertise and understanding of how to ensure markets are fair and how consumers are protected.”
Griffith is also a venture capital giant. Andreessen Horowitz(a16z) is excited to have chosen London for its first office outside the US.
