Looking over the global crypto landscape, it seemed recently as though the UK wasn’t keeping pace with other regions. In the US, the SEC finally approved spot Bitcoin ETFs, and the new products have enjoyed an explosive start, demonstrating sustained demand and impressive volumes.
There is anticipation also for similar ETFs in Hong Kong, and on the regulatory front, the EU appears to be moving quickly, having already created a bespoke package of crypto regulation called MiCA.
✅ BREAKING: U.S. Bitcoin ETFs had RECORD inflows today, primarily due to $IBIT ’s record flows 👇 pic.twitter.com/7ZQcN9Jw52
— HODL15Capital 🇺🇸 (@HODL15Capital) February 29, 2024
Meanwhile, over in the UK, it’s been an uncertain picture with mixed messages, as among promises from some politicians of an innovative approach, regulatory clarity is yet to emerge, and there appears to be a risk that crypto enterprises might choose to look elsewhere for welcoming locations in which to do business.
However, amid the ambiguity, a positive signal has flashed, with London-based trading platform OANDA Crypto launching for business in the UK. As the name suggests, the OANDA Crypto exchange is an offshoot of the US-based, globally-operating brokerage firm OANDA, which already operates a crypto arm in the US in collaboration with stablecoin issuer Paxos.
Regulatory compliance has become a key concern for…
