Just-In: Treasury Official Andrew Griffith Says Crypto And AI Are Crucial

Varinder Singh
November 9, 2023
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Just-In: Treasury Official Andrew Griffith Says Crypto And AI Are Crucial

UK Economic Secretary to the Treasury Andrew Griffith believes crypto and artificial intelligence (AI) are important for London’s portfolio. He considers London as an ‘honest broker’ when it comes to regulating crypto assets, artificial intelligence, and other emerging technologies. Blockchain and crypto technologies are finding ground to grow under the leadership of UK Prime Minister Rishi Sunak.

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City Minister Andrew Griffith Considers Crypto and AI Important

Andrew Griffith, Economic Secretary to the Treasury, in Bloomberg’s business podcast In the City stated crypto and artificial intelligence (AI) are increasingly important for London.

“I think it builds naturally on our strengths in terms of things like tech and payments, technologies and clearance,” said Griffith. During his visit to New York, he met with investors and explained to firms how London is improving to become a hub for crypto and AI. The British capital drawing crypto and AI companies as part of efforts by UK Prime Minister Rishi Sunak.

Griffith calls London as “a bit of an honest broker” when it comes to regulating crypto assets, artificial intelligence, and other emerging areas. He asserts “there will be other regimes that are more dynamic but don’t have some of the quality and trust attributes of London.”

The move comes The UK government has taken further steps towards regulating a variety of cryptoassets and other digital assets through powers granted to it under FSMA 2023. The Bank of England (BOE) has released its plan on how it would regulate the stablecoin and crypto.

As for his agenda ahead of the next election, Griffith describes it as “an aggregation of marginal gains,” including plans to push more savings into unlisted assets like private equity and building projects.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.