The chancellor of the Treasury of Great Britain Philip Hammond will shortly officially declare about the creation of the special working group on questions of cryptoassets and start of a number of the corresponding financial technical-initiatives.
It is noted that representatives of Treasury, Bank of England and Financial Services Authority would be a part of group. It is expected that the official announcement will take place during the International Fintech Conference.
The initiative will becomea part of the big government part of “The strategy of the financial technical-sector” which “will help Great Britain to operate the risks connected with cryptoassets and to use potential advantages of this technology”, it is said in the statement.
Besides, it is expected that Hammond will announce about other measures connected with the sector of financial technologies including “the following in steps in “robo-regulation” which will help new financial technical-firms and suppliers of financial services to respect laws and the rules by means of the special software which is also allowing to save time and money”.
It is also noted in the message that the government planed to create “financial technical-bridge” between Great Britain and Australia which had to connect the markets of two countries and “to help the British firms to extend at the international level”.
Another remarkable feature of the new financial technical-strategy — the creation of new standards to simplify the cooperation of separate firms and banks. The government also plans to cooperate with the financial technical-companies for “creation “of the general platforms” which will help to get rid of the barriers facing these firms”.