UK FINRA Group Calls on Policymakers to Issue Clearer Cryptocurrency Rules

On Tuesday, TheCityUK, a leading UK financial trade association group, released an extensive report calling on policymakers to issue clearer rules for cryptocurrencies, according to The Block. The report begins with the hope that the U.K. will “take a world lead in this high-growth, high-potential sector.” TheCityUK also proposes a classification of digital assets, dividing the sector into seven different areas, several of which lack regulation. The report highlights that the UK, no longer bound by EU rules, can respond faster and more flexibly to emerging technologies.

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