George Osborne: Digital Currencies Could 'Play Big Part' in Finance

George Osborne, the UK's Chancellor of the Exchequer, has issued new remarks about digital currencies.

Nov 11, 2015 at 2:30 p.m. UTC
Updated Sep 11, 2021 at 11:59 a.m. UTC
CoinDesk - Unknown

https://www.coindesk.com/uk-treasury-issues-call-information-digital-currencies/

George Osborne, the UK's Chancellor of the Exchequer, has issued new remarks about digital currencies.

Speaking at the Bank of England's Open Forum conference earlier this morning, Osborne re-emphasised his desire for London to be a world leader in both FinTech and digital currencies.

According to Bloomberg, Osborne commented on the potential of the "once dismissed" alternative currencies, saying:

"[Digital currencies] may now well play a big part in our financial future."

During his opening remarks, the Chancellor also touched upon the topic of innovation, noting that the UK was committed to ensuring that regulation is not too burdensome.

This is not the first time that the Chancellor of the Exchequer has spoken about digital currencies in public.

In August last year, Osborne announced a new scheme that set out to assess the potential role of cryptocurrencies in Britain's economy, commissioning the UK Treasury to produce a programme relating to cryptocurrencies to weigh both the technology's benefits and risks.

The Chancellor also made headlines last year, after he withdrew £20 worth of bitcoin from an ATM at the London offices of FinTech accelerator Level 39, which is home to Swiss investment bank UBS' blockchain research lab.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
First Mover Asia: Terra's Difficult Post-Collapse Path: VCs Backing Away, Regulators Jumping on Stablecoins

Some investors see salvageable pieces in the rubble while others are bemoaning their involvement and want to forget the protocol ever existed; bitcoin edges up in weekend trading.

Some investors see salvageable pieces in the rubble while others are bemoaning their involvement and want to forget the protocol ever existed; bitcoin edges up in weekend trading.

CoinDesk - Unknown
2
CoinDesk - Unknown
China Can’t Seem to Stop Bitcoin Mining

Reported hashrate fell to zero for two months in China last year, but it has since returned rather abruptly.

Reported hashrate fell to zero for two months in China last year, but it has since returned rather abruptly.

CoinDesk - Unknown
3
CoinDesk - Unknown
Could Local Digital Currencies Improve Communities?

That's the argument of the president of the RadicalxChange Foundation.

That's the argument of the president of the RadicalxChange Foundation.

CoinDesk - Unknown
4
CoinDesk - Unknown
After the Terra Meltdown: What's Next for Stablecoins?

The largest token collapse in crypto history. So let Luna die.

The largest token collapse in crypto history. So let Luna die.

CoinDesk - Unknown