LONDON: Britain yesterday announced a task force to exploit the technology underpinning cryptoassets, such as bitcoin and other cryptocurrencies, as part of new plans to help fintech companies find more customers.
British finance minister Philip Hammond said he was committed to helping fintech grow and flourish by taking a series of domestic steps and forging links overseas.
“As part of that, a new task force will help the UK to manage the risks around cryptoassets, as well as harnessing the potential benefits of the underlying technology,” Hammond told a fintech conference hosted by the finance ministry.
Bank of England Deputy Governor Dave Ramsden said the central bank has set up a new fintech hub to consider both how the bank understands and how it applies fintech, relevant to its mission.