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April 03, 2018
"We are seeing great excitement, some wariness, and also I think some misunderstandings. We remain agnostic and are engaged in trying to find the right narrative and the right level of regulation if that's appropriate."Glen recognises that there is a lot of uncertainty around the benefits that cryptocurrencies have to offer sovereign territories, but he also recognises that regulation can of course offset these uncertainties. By establishing a large exchange in the capital, Glen not only sees the financial benefits of this but also sees that it could offer an element of liberation to the UK economy, giving citizens more opportunity to get involved within a regulated cryptocurrency market. Regulation is of course something a lot of cryptocurrency ambassadors are totally against, I believe that Glen does recognise this. His words do not overtly mention this, but I get the sense that he feels a compromise could be made, one in which still ensures the freedom and transparency of cryptocurrency but does not put the UK Government or it’s economy at risk, something that many MP’s are worried about. In saying that the current market poses no risks to the UK, Glen recognises that now seems to be the time to set up a regulated exchange, in line with the development of the new cryptocurrency task force and in line with the promising scope that cryptocurrency is looking to offer. Glen has said:
"I think it's right that we take appropriate — not really cautious, but proportionate — steps to evaluate it before we act as a government."I think this is a sentiment we can all agree with. Featured Image Source: Pixabay