Britain wants to take the U.S. on as a global crypto hub — but the industry has its doubts

Britain's Labour government has committed to making the U.K. an accommodating environment for crypto and blockchain-related businesses.

She also said the government wouldn't approach crypto staking services, which offer rewards on users' token holdings, as collective investment schemes. Crypto industry insiders had worried such a treatment would have created burdensome regulatory requirements. Bartlett said that spending time at both the San Francisco and London offices of his blockchain startup Thirdweb makes him think"it's really unfair to try and build a company here compared to being there."

As the FCA tries to figure out how to develop and implement a regulatory crypto framework, experts are hoping it will encourage and foster innovation — not stifle it.

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