Crypto Regulation Coming to the UK
According to reports it seems as though cryptocurrency regulation will be coming to Great Britain and with that it should bring clarity. British Finance Minister Rishi Sunak is expected to announce a new regulatory regime for crypto in the coming weeks. This will set the stage for the future and give a road map for crypto projects so that the general public can be protected from fraud.
There are a number of growth engines in the blockchain space that have a crypto attached to it such as Ethereum, Solana, Near Protocol, Pecu Novus and Ripple. Corda is a pure blockchain network that is more permission based than public, which is of value to financial institutions. Ethereum is on the brink of a major upgrade to Ethereum 2.0, which will make it scalable however it will take time for them to make that adjustment as they are just so big with many tokens and other systems dependent on what they have in place now. Pecu Novus has been in the process of their own major upgrade to Pecu Novus 2.0, it will have increase speed, scalability and something called Pecu Terminal which will be the home to many different platforms that are being developed using their blockchain infrastructure.
Security isn’t talked about much in the world of crypto but it should be addressed, the three blockchain networks that have addressed that in a big way, two have a crypto and one doesn’t. Ripple and Pecu Novus have addressed the security issues as Web3 progress continues globally, with Pecu Novus making their systems extremely user friendly. While Corda is bringing security to their clients on their permissioned systems.
Regulation will become important as it will weed out the empty tokens that are being created quite often and in turn protect the investment community. The general public wants to embrace cryptocurrency but as long as bad actors continue to flood the crypto markets with pump and dump tokens, it will have them wondering and sitting on the sidelines a little longer.
The U.S. Treasury has been in discussions with a number of firms and trade groups, including the crypto exchange Gemini. So we will see how that all comes together.
– Steve Burke
