UK won’t appoint ‘Crypto Tsar’, says minister.

The UK government does not intend to appoint a ‘crypto tsar’, according to Andrew Griffith, economic secretary to the UK Treasury, during a debate held by the cross-party Crypto and Digital Assets All Parliamentary Group (APPG). This group published a report in June calling for a dedicated official to oversee crypto regulation. The UK Treasury had already proposed that crypto be regulated as a financial service, with legislation to this effect currently making its way through Parliament. Griffith pledged to champion the sector in his role as the economic secretary and someone responsible for financial regulation in the UK. He has previously expressed a desire for the UK to become a crypto hub. Griffith also reaffirmed the government’s view that crypto should be regulated as financial services, not gambling. He welcomed the decision by venture capital firm Andreessen Horowitz (a16z) to open its first office outside the US in London.

Read more: UK Lawmakers Clash Over Government Plans to Regulate Crypto as Financial Services

Edited by Sandali Handagama.