Lanistar‘s CEO, Jeremy Baber explains how the UK can become a leader in safe crypto with the right regulations. Lanistar is already integrating crypto features and is set to benefit from future regulatory changes. Tulip Siddiq’s new role as City Minister, the UK’s ambition for a well-regulated crypto industry is gaining momentum. The success of British fintechs in transforming payment systems underlines the potential for similar advancements in the crypto sector.
The UK has been working towards becoming a leading global centre for cryptocurrency, but it is now making significant progress. Tulip Siddiq’s appointment as Economic Secretary to the Treasury, or City Minister, marks a significant step towards a more progressive and secure approach to digital currencies. Siddiq is known for supporting blockchain and crypto technologies.
As the UK aims to establish itself as a top crypto hub, innovations from fintech companies are setting a strong example. With fintech already changing how payments are made, integrating crypto into these systems could enhance the UK’s position in the digital economy.
China’s lead in Crypto and Fintech innovations
China has made significant strides in the world of generative AI and blockchain technologies, taking the lead in global adoption and innovation. Despite facing restrictions from international service providers, China has developed a strong domestic industry. Major tech companies like ByteDance and startups like Zhipu have been instrumental in this progress. Competitive pricing for services using large language models is expected to drive further growth and innovation in China’s fintech and crypto sectors.
Jeremy Baber, CEO of Lanistar, highlights that the UK can become a leading global crypto hub if the right regulations are put in place.
“If the right regulation is put in place, the UK definitely has the ability to realise its potential as a global ‘crypto hub’. The new City Minister must ensure the public that crypto can be a safe and secure option, as long as it is properly regulated,” Baber says. He emphasises that finding the right balance between security and innovation is crucial for developing a thriving crypto market without discouraging investment.
The importance of balanced regulation
Effective regulation is essential for the UK to succeed in creating a strong crypto market. While the Financial Conduct Authority (FCA) has warned about the risks of unregulated crypto assets, it is important to avoid overregulating and driving away investment. Good regulation should support innovation while protecting consumers and building trust in digital currencies.
Baber points out the importance of consulting experts from both the crypto and fintech fields to shape the best regulations.
“Consulting experts from both the crypto and fintech space will dramatically improve the government’s understanding of how regulation should be crafted,” he explains.
This approach will help ensure that the regulations are practical and encourage a secure and dynamic crypto market.
Fintech’s role in advancing Crypto
As fintech continues to develop, its integration with cryptocurrency could transform financial services in the UK. Lanistar, a fintech company currently operating in Brazil, is already exploring this potential. The company has added features to allow users to buy Bitcoin and Ethereum directly through their accounts. This innovative approach could serve as a model for how fintech and crypto can work together to provide more comprehensive financial solutions.
Baber also mentions that Brexit has affected the UK’s financial services and its relationship with the EU. However, there is now an opportunity to strengthen ties with key trading partners. “Although Brexit has had a negative impact on financial services and our relationship with the EU, there is now an opportunity to regain closer ties with our biggest and closest trading partners,” Baber says.
Strengthening these relationships could help the UK regain its leading position in fintech and finance
About Lanistar
Lanistar, founded in 2019 by Gurhan Kiziloz, aims to disrupt traditional banking with modern technology and innovative solutions. The company offers a comprehensive ‘AnyMoney’ platform that integrates various financial products, including cryptocurrencies. Currently available in Brazil, Lanistar plans to expand its services to other regions, including the UK and EU. Lanistar features like advanced security, multi-currency support, and seamless integration with payment systems, Lanistar is set to lead in the future of fintech.
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