Crypto Laws Needed to Secure UK’s Position as Global Leader

The UK must develop laws that govern cryptoassets to ensure the country becomes a global hub for cryptocurrencies and non fungible tokens, the Law Commission recommended.

The long-awaited report aims “to provide a comprehensive legal foundation for digital assets, which will allow these new technologies to flourish, enabling a diverse range of market participants to interact with and benefit from them,” the independent panel said in a statement Wednesday. The report will now go to the UK government, which will decide whether to adopt the recommendations.

The UK Treasury announced its ambition to become a global crypto hub in April ...