The UK is proving to be a promising hub for Web3 and cryptocurrency development, according to Coinbase. The popular crypto exchange has expressed its support in a recent blog post, highlighting the country’s potential as an innovative leader in this field. With Europe playing an important role in their global financial strategy, it comes as no surprise that they see great promise here.
This positive outlook towards the UK can be attributed to the growing adoption of cryptocurrencies among Britons. Reports suggest that 22% of people already own digital currencies while around 65% are unhappy with current financial systems – making them more open-minded about alternative options like Bitcoin and co.
Coinbase CEO Brian Armstrong believes collaboration between banks and FinTech companies will pave way for success within this industry; particularly if blockchain technology becomes integrated into government practices too!
Coinbase supports UK and MicaR
Coinbase is advocating for the creation of regulatory frameworks and clear tax regimes to be established for cryptocurrencies, showing their support towards UK’s efforts. Additionally, Coinbase also supports MicaR – European Markets in Crypto Asset Regulation which will soon finalize on April 20th, 2023.
Interesting: Just the other day there was a clear announcement from Coinbase in the direction of the USA. They are even considering suing the SEC.
As more governments and businesses around the world are beginning to accept and integrate cryptocurrencies along with blockchain technology; Coinbase has come forward at an opportune time with these statements. The Bank of England has already announced plans to launch a central bank digital currency while other countries within Europe have similar intentions as well.
Coinbase’s backing could significantly boost potential growth in the crypto industry across both regions but it remains vital that regulators establish transparent rules & regulations ensuring consumer protection alongside financial system integrity. Collaboration between governments & businesses would play a crucial role determining future success rates within this sector!