In a wide-ranging Treasury committee hearing today, Griffith was quizzed by MPs on the risks facing the crypto industry and the potential for the UK to lead on crypto regulation.
Setting out the government’s strategy, Griffith said they would be coming forward “in weeks” with two public consultations: one on the general regulatory approach to crypto assets and one on Central Bank Digital Currencies (CBDCs).
“I think we should all be humble about our ability to predict future technologies but it would be wrong for the UK not to be forward leading to seek to make the most of the opportunity,” he said.
However, Griffith admitted that “we’re probably not going to be legislating in 2023”.
“I don’t accept the implied criticism that by spending time with the industry at this stage, that we’re doing anything wrong”, he said, although he accepted a range of risks facing the sector.”
Read more at City A.M.
