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Crypto Hub UK: What the Experts Think

problem habit?

Addiction experts report that “young men who trade cryptocurrency have begun to seek help for symptoms related to problem gambling,” Patrick O’Donoghue said in The Sunday Times (Ireland). Extern Problem Gambling’s Barry Grant warns against a “classic” progression. “You try that. You do something small, you have some fun. You might do a little research on this. Then you’re in for a big win.” Once hooked, the lack of safeguards means it may be harder to “quit crypto than it is to quit a problematic gaming habit.”

Crypto Conversion

The results are not good news for the Treasury, which has just unveiled plans to make the UK a “global hub” for the crypto industry after being criticized for its “strict approach stifling innovation,” the said FT. The change in tone is welcome, but caution is clearly warranted. The new initiative coincided with a warning from BoE Governor Andrew Bailey that cryptocurrencies are the new “frontline” in criminal scams. Much of what the Treasury Department is proposing is uncontroversial, Charles Walmsley said Citywire. Plans include promoting the use of “stablecoins” (online currencies tied to traditional fiat sorting) in payments and creating a regulatory “sandbox” to allow companies to “experiment with cryptocurrency models.” . But the most striking plan – to create NFT (non-fungible token) via The Royal Mint – was also the most controversial. While some compare these digital assets to works of art, others argue “that they are very risky investments” with no “inherent value”.

Rule bit tannia!

“There is nothing wrong with the Treasury taking a scouting walk around the crypto block,” said Nils Pratley The guard. But the chancellor Rishi SunakHe said he “quite undermined” the seriousness of the project by attempting “fancy stunts” like NFTs. Better to “stick to boring technical reviews of payment systems”. It feels like the Treasury is ignoring all the boring stuff about “illegal activity and carbon emissions” to hail crypto as “the best ever,” agreed Jemima Kelly FT Alphaville. “Master Bit-Tannia!” and all that. Or as the crypto brothers like to say “WAGMI” – “we are all gonna make it”. What could possibly go wrong?

https://www.theweek.co.uk/business/city/956372/crypto-hub-britain-what-the-experts-think Crypto Hub UK: What the Experts Think

Fry Electronics Team

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