BlockBeats News, February 17 — GBP stablecoin issuer Agant CEO Andrew MacKenzie stated that the UK’s crypto regulatory framework is on the right track, but the pace of progress is insufficient to support the country’s ambition to become a global digital asset hub.
The UK government has repeatedly promised to position London as a global center for crypto and digital asset activities. However, legislation that fully covers stablecoins and broader crypto activities is not expected to be approved by Parliament until later this year, with full implementation possibly not until 2027.
MacKenzie pointed out that this timeline contradicts the government’s goal of maintaining the industry’s global competitiveness. In an interview at the Consensus Hong Kong conference, he said, “I think what’s most disruptive right now is that it’s taken us too long to get to this point. People just want clarity… If I have any expectations for regulators, it’s to speed up how we get things done.”
Agant recently joined a small group of crypto asset firms registered with the UK Financial Conduct Authority under anti-money laundering regulations — a process widely regarded as one of the strictest regulatory regimes globally. FCA registration is a prerequisite for conducting certain crypto asset activities in the UK, and the process is known for being rigorous and slow.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Analyst: Iran War May Prompt ECB to Lean Toward Rate Hikes, Market Expects 36 Basis Points Rate Increase by Year-End
Ebury analyst Matthew Ryan stated that Middle East conflict could make the European Central Bank more inclined to raise rates rather than cut them, as inflation spikes following the Russia-Ukraine war have made the central bank more vigilant about potential risks. He expects Lagarde will emphasize the importance of controlling inflation at Thursday's meeting.
GateNews6m ago
QCP: BTC Oscillates Near $74,000; Multi-Country Central Bank Rate Decisions Key This Week
QCP Capital analysis indicates that BTC price is maintaining around $74,000, with a lack of upward momentum. Although the overall crypto market remains under pressure, the declines are relatively controlled. Central bank policy meetings throughout the year will influence the market, as high oil prices have lowered expectations for rate cuts, and the interest rate environment has weakened support for crypto assets. Until policy and geopolitical situations become clearer, a volatile pattern may continue.
GateNews1h ago
France Says It's Willing to Help "Liberate the Strait of Hormuz," But Refuses to Get Drawn Into War
French Finance Minister Lescure stated that France is willing to help secure the Strait of Hormuz after the situation cools down, but on the condition that the war must stop. He emphasized that Europe has the capability to maintain maritime security, but is unwilling to engage in military operations amid the current conflict. This has sparked differences between Europe and the United States regarding military involvement in the Middle East, reflecting the complexity of energy security and its potential implications.
ChainNewsAbmedia1h ago
Iran's Intelligence Minister Ismail Khatib was killed in an attack last night.
Gate News reports that on March 18, according to Israeli media, Iran's intelligence minister Ismail Khatib was assassinated last night. There are currently no updates regarding his whereabouts.
GateNews1h ago
Citigroup Slashes Bitcoin and Ethereum 12-Month Price Targets, Citing Stalled U.S. Crypto Legislation Weighing on Upside Catalysts
Citigroup has lowered its 12-month price targets for Bitcoin and Ethereum, signaling a shift toward caution on the cryptocurrency market's medium-term outlook, primarily due to slow progress in U.S. crypto asset legislation. Bitcoin's target was reduced from $143,000 to $112,000, while Ethereum's fell to $3,175. Despite upside potential remaining in the future, the lack of new policy catalysts suggests prices may oscillate within a range in the near term. Citigroup's assessment of Ethereum is more cautious, as it believes the asset is more significantly impacted by on-chain activity.
区块客2h ago
Germany plans to increase AI computing power to 4 times that of 2025 by 2030
The German government has announced a data center expansion strategy plan, aiming to double computing power by 2030 and increase AI-dedicated computing power fourfold to meet rapidly growing data processing demands and promote Germany as a European data center hub.
GateNews2h ago
