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Blog
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Blog
12 Jan, 2021 Author Sophia Furber
Brexit has created disruption and uncertainty for the U.K. s fintech sector, but industry insiders say that there is a silver lining. The U.K. s departure from the bloc leaves it free to forge its own regulatory path in fintech and cryptocurrency.
Not only could this spur innovation, it could help the U.K. to reinvent itself as a hub for crypto and decentralized finance, or DeFi.
These comments come shortly after the U.K. regulator opened a consultation on cryptoasset regulation, with a focus on stablecoins, which will run until March 31. The U.K. is also in the midst of a government-backed fintech review, launched in July 2020, which will make recommendations for how best Britain can nurture its fintech industry following Brexit.