The UK’s New Push to Be a Global Crypto Hub

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 6 April 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. On today’s episode, NLW explores the seeming about-face by the British government on crypto. He first explores the recent tension around a March 31 registration deadline imposed by the country’s Financial Conduct Authority (FCA) that has left many British crypto companies looking abroad. Then, he looks at news yesterday of a major push by the British Treasury to make the country into an innovation hub around crypto and digital assets – going so far as to say that they will mint an official NFT. - From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, TX. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with today’s editing by Rob Mitchell and Eleanor Pahl, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Justin Tallis/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	I think this is one of the most obvious game theoretical paths for a government to take.
0:04.4	And especially with the EU cracking down, this makes even more sense.
0:08.7	These guys are trying to signal to the crypto markets that they are open for business and that they want to engage.
0:14.4	Of course, as always, the devil will be in the details, but the signaling, the messaging, the marketing around this could not be clearer.
0:21.7	Welcome back to The Breakdown with me, NLW.
0:25.8	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:31.7	The breakdown is sponsored by nexus.io, Arculus, and FTX, and produced and distributed by CoinDesk.
0:39.5	What's going on, guys? It is Tuesday, April 5th, and today we are talking about the UK's
0:45.6	About Face and apparently their new ambition to be a global crypto hub.
0:51.7	Before that, however, if you were enjoying The Breakdown, please go subscribe to the show
0:55.6	wherever you listen to podcasts, give it a rating, give it a review, or if you want to get
1:00.2	deeper into the conversation, come join us on the Breakers Discord.
1:04.4	You can find a link in the show notes or go to bit.ly slash breakdown pod.
1:09.3	Also, a disclosure, as always, in addition to them being a sponsor of the show,
1:13.1	I also work with FTX. Now, before we get into our main topic today, one quick follow-up from
1:19.6	yesterday's Elon show. Perug Agrawal, the CEO of Twitter, tweeted this morning, I'm excited to
1:26.0	share that we're appointing Elon Musk to our board.
1:29.1	Through conversations with Elon in recent weeks, it became clear to us that he would bring
1:32.5	great value to our board. He's both a passionate believer and intense critic of the service,
1:37.0	which is exactly what we need at Twitter, and in the boardroom to make us stronger in the
1:40.7	long term. Welcome Elon. So for those of you wondering whether Elon was going to
1:46.4	have some influence or shape the way that Twitter functioned, there is your answer. He is being
	...

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