British Government Wants to Turn London into a Crypto Hub

According to the Deputy Secretary of the Treasury for Economic Affairs Richard Fuller, the British government aims to make the UK the “dominant center of crypto technology in the world.”

The statements came amid the confirmation of Liz Truss as the country’s new prime minister.

The prime minister is reportedly committed to providing Internet connectivity for residents who can access buying, selling and mining cryptocurrencies.

Fuller has pointed to various application scenarios for the technology, including use for international trade and medical records. He has said:

“We want to become a reference point for those who want to create, innovate and build in the industry. We will be able to attract investment, create new jobs, increase tax revenue and maintain the current position of the UK in financial services in the new era.”