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UK Minister Wants Nation to Be a Crypto Hub, Minus the Criminals

  • Minister sounds caution on money laundering, sanction evasion
  • UK bars retail investors from trading crypto derivatives
Chris Philp
Chris PhilpPhotographer: John Phillips/Getty Images

The UK’s digital minister reiterated the government’s ambition to make Britain a global crypto hub while sounding a cautious note about the potential criminal uses of digital assets. 

“We do intend the United Kingdom and London to be crypto centers,” Chris Philp said in an interview with Bloomberg Radio on Wednesday. “But of course we’ve got to do that in a way that protects the public and in particular pays attention to issues concerning for example money laundering, and making sure that crypto is not used as a way to circumvent things like sanctions.”