UK Parliament Votes to Recognize Crypto – Will Britain Become a Crypto Hub?
Source: House of Commons Lawmakers from the House of Commons, the lower chamber of the British parliament, have voted to recognize cryptocurrencies as a regulated financial instrument in the UK, supporting the crypto’s price increase. The move could mark another step towards establishing the UK as a European crypto hub. The latest development comes amid a turbulent time in UK politics. Earlier this week, Conservative Party leader Rishi Sunak was appointed to serve as the country’s prime minister , replacing his predecessor, Liz Truss, after a mere 45 days in the office. UK lawmakers debated the Financial Services and Markets Bill , a legislative proposal introduced by Sunak when the politician served as the Chancellor of the Exchequer under former Prime Minister Boris Johnson. During the parliamentary session, Conservative MP Andrew Griffith submitted an amendment to expand the scope of regulated financial services to cover crypto. Griffith h...