The approval of the EU's MiCA legislation highlights post-Brexit UK's regulatory shortcomings - could it be boosted?
Jeremy Hunt's announcement today was less a "Big Bang 2.0” and more a conservative nudge to the existing financial system.
As chancellor in 2020, Sunak requested a review of the UK's fintech sector, also known as the Kalifa Review, published in February 2021.
Following the announcement of the Chancellor's mini-budget, the jury remains hung on whether the bold move was a positive one for fintech.
Their website mentions names such as 'digital sterling' or 'Britcoin' and emphasizes the difference between CBCDs and cryptocurrencies.
Nova Credit UK will assist in improving access to credit products for the nation's growing immigrant population.
Chancellor, Jeremy Hunt presented a vision to make the the UK "the next silicon valley" but changes could stifle fintech innovation.
Total UK fintech investment dropped to $9.6 billion in the first half of 2022, down almost threefold from $27.8 billion in the same period in 2021, according to KPMG's Pulse of Fintech, a biannual report on fintech investment trends.
The updated guidance document makes an explicit reference to crypto assets, crypto exchange providers, and custodian wallet providers.
There is much recognition that blockchain, DLT, and associated technologies are potentially beneficial, with many use cases emerging.