The UK as a Web3 innovation Hub: Coinbase

Brian Armstrong will make suggestions to the UK about rules, taxes, and fostering cooperation between the banking and FinTech industries.

According to a plan outlined by cryptocurrency exchange Coinbase, the United Kingdom may “turbocharge” its cryptocurrency industry and serve as a “innovation hub for the Web3 economy”.The CEO of Coinbase, Brian Armstrong, would speak at a London fintech conference and provide nine recommendations on how the U.K. could “cement its place” as a Web3 hub.

“In short, things are happening in Europe that are edging the region ahead and, when it comes to embracing the digital economy, the region is preparing for a seismic change in how it uses and thinks about money”

Armstrong’s plan includes building a cross-departmental plan for digital innovation and economy digitization, assuring collaboration with the banking and fintech sectors, and swiftly implementing a regulatory framework for cryptocurrency.

A goal to “bring de-centralized ID (DiD) to fruition,” as well as subjects like creating “a regulatory framework that promotes stablecoins,” clarifying the tax treatment of cryptocurrency assets, and more, were also mentioned by Coinbase.

source: https://cointelegraph.com/news/coinbase-to-help-uk-on-web3-hub-as-treasury-reportedly-revives-blockchain-taskforce