UK Economic Secretary to the Treasury Andrew Griffith believes crypto and artificial intelligence (AI) are important for London’s portfolio. He considers London as an ‘honest broker’ when it comes to regulating crypto assets, artificial intelligence, and other emerging technologies. Blockchain and crypto technologies are finding ground to grow under the leadership of UK Prime Minister Rishi Sunak.
City Minister Andrew Griffith Considers Crypto and AI Important
Andrew Griffith, Economic Secretary to the Treasury, in Bloomberg’s business podcast In the City stated crypto and artificial intelligence (AI) are increasingly important for London.
“I think it builds naturally on our strengths in terms of things like tech and payments, technologies and clearance,” said Griffith. During his visit to New York, he met with investors and explained to firms how London is improving to become a hub for crypto and AI. The British capital drawing crypto and AI companies as part of efforts by UK Prime Minister Rishi Sunak.
Griffith calls London as “a bit of an honest broker” when it comes to regulating crypto assets, artificial intelligence, and other emerging areas. He asserts “there will be other regimes that are more dynamic but don’t have some of the quality and trust attributes of London.”
The move comes The UK government has taken further steps towards regulating a variety of cryptoassets and other digital assets through powers granted to it under FSMA 2023. The Bank of England (BOE) has released its plan on how it would regulate the stablecoin and crypto.
As for his agenda ahead of the next election, Griffith describes it as “an aggregation of marginal gains,” including plans to push more savings into unlisted assets like private equity and building projects.
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