A former head of the London Stock Exchange has asked the U.K. government to endorse cryptocurrency adoption in the wake of Brexit.
In a co-authored blog post published Wednesday, former head of the London Stock Exchange Xavier Rolet said that a post-Brexit U.K. could leverage the boom in crypto-assets in order to make the nation the center of a “reputable and safe” financial market.
Rolet, who serves as the non-executive chairman of Shore Capital Markets, said the country should be attracting the “best brains” in the industry to construct progressive policies on crypto-assets and blockchain technology.
He wrote:
Doing so will not be easy, none of this stuff is, but it is essential to be well-positioned, otherwise the cryptocurrency market will pass the UK by.
The post, co-written by Shore Capital Markets senior political adviser Matthew Elliott and head of research Dr. Clive Black, highlighted the importance of being an early-adopter for cryptocurrency on a global scale.
They wrote:
Cryptocurrency is not going away and whilst self-serving entrepreneurs like Elon Musk are reverse broking the instrument, the fact is that important institutions of the state (e.g., China) and commerce (e.g., Mastercard and BNY Mellon) are now embracing crypto-currency.
The authors noted the U.K. could leverage its independence in the wake of Brexit in order to enact agile policies and work with global central banks.
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
