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The Economy Secretary wants the UK to be the “preferred country” for encryption space

The Treasury official supported the Truss Government’s intention to transform the UK into a “global crypto technology centre.”

The UK wants to “become the preferred country for those looking to create, innovate and build in encryption,” according to Treasury Secretary Richard Fuller.

Speaking at the first crypto debate in Westminster earlier this week, Fuller also stated that “as the importance of crypto technologies grows,” the new government formed by Liz Truss is “looking for ways to achieve a global competitive advantage for the UK.”

“The UK can either be a spectator because this technology changes aspects of life, or we can become the best place in the world to start and expand encryption technologies,” he said. “We want the UK to be the dominant global hub for crypto technologies, thus building on the strengths of our burgeoning fintech sector, creating new jobs, and developing pioneering new products and services.”

UK attracts investing in cryptocurrencies

Alexander Stafford, MP. Meanwhile, Ruther Valley said that “Britain is already known globally as the beating heart of finance, banking and markets, so it is natural that cryptocurrencies likewise view Britain as their home.”

“Britain should welcome crypto investments and opportunities,” Stafford said, adding that Truss, who was sworn in on Tuesday after Boris Johnson’s resignation, “reaffirmed” her commitment to this fast-growing sector.

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