Former UK Chancellor of the Exchequer Philip Hammond has warned that the UK must act in the coming months or lose its chance to dominate the cryptocurrency space. “It’s not too late for us to catch up, but we’re very close to the point where it’s too late.”
Hammond said in an interview that the UK has been slow to develop clear crypto regulatory rules. The former politician resigned in 2019 and is now a senior adviser to Copper. Copper is a London-based cryptocurrency custody and exchange service provider.