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April 4th is an important, historic day. It’s the anniversary of the first US Congressional session taking place, the date of Martin Luther King Junior’s assassination, the founding of Microsoft, and the birthday of El Chapo. The world would be a very different place without these events.
It’s also the day when UK prime minister Rishi Sunak, in 2022, revealed his ambitions to transform Britain into a global hub for crypto.
So, uh, happy anniversary to all who celebrate, including — perhaps out of a sense of obligation — lobby group CryptoUK. In a press release to mark the occasion, they say:
The UK has the skills, talent and wider ecosystem to cement its status as a truly global digital assets hope and we hope the government, and others, continue to realise this ambition.
We might still be a little far off the cementing stage.
Here’s a quick reminder of what’s happened in the two years since Sunak’s speech. Or, rather, not happened.
— Plans to make a UK NFT to show Britain’s “forward-looking approach” have been dropped (maybe because the cartoon monkeys are now financially as well as practically worthless)
— ‘Britcoin’ is still a work in progress, with MPs warning of the “significant risks” a digital pound poses.
— Sunak’s floated Cryptoasset Engagement Group was never even established, according to a person with knowledge of the matter. (The Treasury didn’t immediately respond to a request for comment.)
To Britain’s crypto credit, the Bank of England and Financial Conduct Authority yesterday launched a consultation on a “sandbox” for companies using distributed ledger technology, which should have its first members by some point in the autumn.
Of course, where Sunak will be by then is anyone’s guess.
