UK Finance Minister: Creating an overly cautious regulatory environment is futile

Newly appointed UK Chancellor of the Exchequer, Bim Afolami, stated that regulatory bodies need to strike a balance between effective supervision and leaving room for innovation and growth. Creating an overly cautious regulatory environment is futile. We need innovation, we need to promote growth and initiative. Additionally, he stated that we should not treat all cryptocurrency companies equally. It is important that we do not view all crypto businesses as being like FTX or Binance.