UK’s Crypto Manifesto: Fintech & Tokenization Hub

UK has come out with its Stand with Crypto manifesto, suggesting the island country to be projected as a top player in fintech, online assets, and tokenization for increasing investments, impacting productivity, as well as overall growth and the UK economy in general. 

This is taking place at a time when Prime Minister, Rishi Sunak, is asking for an election to be held soon, with the manifesto to be hopefully implemented by whichever government comes to power. It has sent thrills up the spines of Web3 businessmen who strongly feel it will work towards the betterment of their businesses, opening the United Kingdom to the world. 

Following are certain suggestions made by SwC, which include positioning the island country as a potential hub for online assets, as well as fintech and tokenization. The word needs to go out that the UK is all for encouraging tie-ups in these segments. For this, the need of the hour is to explore ways of exploiting the situation viably. 

A regulatory infrastructure is required to be set up for crypto assets that do not tie down any business house but provide all sorts of necessary safeguards against threats and exploits. Investors must be convinced regarding the UK’s priority towards protecting their interests. Fiat supported stablecoins should be brought into the picture. Staking should also be considered as a part of the promotional campaign. 

Another suggestion has been brought forth regarding a proper and effective policy to be formed for factors related to decentralization, blockchain, and tokenization since the UK views them as potential game changers in this era of technology. 

In short, the requirement is for the rest of the world to view the UK with the perspective of being a top player in terms of the latest technology utilization and a promoter of onboarding on their soil, all related businesses globally for the opportunity to flourish further.