A senior government figure has reaffirmed the commitment to turn the U.K. into a crypto hub, despite the lingering fallout from the FTX disaster.
Since filing for bankruptcy on Nov. 11, a web of sordid details on the Bahamas-based exchange has come to light, including information on mismanagement, fraud, and allegations of collusion in destabilizing Solana competitors.
The knock-on effect has tarnished the cryptocurrency industry’s reputation as a whole.
Nonetheless, in a briefing to the Treasury Committee on Jan. 10, Andrew Griffith, the Economic Secretary to the Treasury, maintained that the government still supports the underlying technology responsible for crypto tokens such as Bitcoin.
Crypto is the future
The committee meeting’s purpose was to discuss the potential risks of supporting a pro-crypto policy, especially in the wake of the FTX collapse.
Griffith said championing cryptocurrency and blockchain technology now is widely predicted to yield economic benefits in the futu
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