U.K. launches crypto asset task force to drive fintech innovation

Mar 23, 2018, 7:32 AM EDT
(Source: Marco Verch/flickr)
(Source: Marco Verch/flickr)

The U.K. has announced the world’s first crypto asset “task force,” a body comprising of Bank of England, the Financial Conduct Authority, and the Treasury, to manage the risks around cryptocurrencies and tap the potential benefits of the technology in driving fintech innovation.

Unlike many other countries, the U.K. has been an open supporter of cryptocurrencies and has refrained from statements that fuel unnecessary fear or uncertainty in the market, writes The Next Web.

The U.K. is poised to sign a “fintech bridge” agreement with Australia, which has been at the forefront of mainstreaming cryptocurrency and crypto technology innovation for quite some time now, notes Coin Telegraph.