British Treasury and Economy Secretary Andrew Griffith said during the June 13 session that the government has no plans to appoint a crypto chief.
The session was hosted by the Entire Parliamentary Group on Crypto and Digital Assets (APPG), which in early June asked the government to appoint an official to oversee crypto-only regulation. The UK treasury had previously proposed that crypto assets be regulated as financial services. A draft law on this issue 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 parliamentary friends that crypto assets are more like gambling, which I reject, this 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 also expressed his excitement that venture capital giant Andreessen Horowitz (a16z) has chosen London for its first office outside the US.
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