UK Chancellor of the Exchequer Says Digital Currency Has a Bright Future

British Chancellor of the Exchequer George Osborne has said in the past that he wants to actively explore digital currencies, and he recently reiterated his position at a conference in London.

British Chancellor of the Exchequer George Osborne discussed digital currencies at the Bank of England’s public forum in London yesterday.

George Osborne reiterated the UK Treasury's recent position of welcoming investment in Internet finance, hoping that the UK will become a destination for new financial technologies and will open its doors to this end.

According to the Financial Times, Osborne said:

"I want the UK to be the global hub for internet finance. We will do this in our own way."

He added that UK regulators will provide adequate assistance for “space for innovation to happen.” Osborne’s comments came after Harriet Baldwin, the UK Treasury’s economic secretary, previously stated that she plans to establish future economic policies in the UK that will embrace blockchain technology and digital currencies.

According to Bloomberg, Osborne said:

“Digital currencies can now allow us to play a very important role in the future of finance.”

In August 2014, the Chancellor of the Exchequer announced a public call by the Treasury to gain a better understanding of cryptocurrencies and to assess their benefits and threats to the UK economy.

Public statements and less regulation have helped make the UK a target for internet finance investment. In 2014, 42% of internet finance was invested in the UK, about 410 million pounds (about 620 million US dollars), and created 135,500 jobs in the UK.

Original article: https://www.cryptocoinsnews.com/uk-chancellor-sees-a-big-future-for-digital-currencies/
By SAMBURAJ DAS
Compiler: Prince Gong of Baozou