Crypto Crystal Ball-Gazing: What Does The Future Hold?
— – like, Dark underbelly, Financial market, Clarity –, Parochial nature, Strong, Grouped, Figured, Minor evolution, Physical assets — 1 min read
Matt Smith, chief executive officer at compliance tech firm SteelEye, gives his views on government involvement, regulation, and the potential for bitcoin and other tokens to become a recognised means of exchange. The chancellor announced his intention to make the UK a ‘global hub for crypto assets technology’ in April. The lack of detail around the proposals is a gap that needs to be addressed, says Smith. The FCA is still making sense of the decentralised market and how it operates. Unlike other financial markets, with crypto, there is no central oversight – jurisdictions are trying to regulate independently for something that is inherently global. The market is currently extremely volatile by nature, because with digital currencies there are no physical assets, there’s nothing underpinning the market Source