UK crypto rules moving too slowly to secure global hub status, says FCA-registered stablecoin Issuer Agant
Agant CEO Andrew MacKenzie stated that the UK's slow regulatory pace jeopardizes its goal of becoming a global digital asset hub.Summary
Andrew MacKenzie, CEO of sterling stablecoin developer Agant, believes the UK's crypto regulatory framework is progressing correctly but too slowly to achieve its ambition of becoming a global digital asset hub. He noted that comprehensive legislation is expected late this year, not coming into force until 2027, which contradicts the goal of global competitiveness. MacKenzie stressed the need for regulatory clarity and an acceleration of pace. Agant, which is registered with the FCA, is developing a fully-backed pound sterling stablecoin, GBPA, intended for institutional payments. MacKenzie also dismissed concerns from central banks regarding stablecoins, arguing they can strengthen sovereign monetary reach by enabling the global distribution of digital pounds. He added that while regulators are listening, banks are increasingly recognizing the efficiencies of blockchain, leading to an exponential acceleration in their adoption of the technology.
(Source：CoinDesk)