With digital currencies continuing to strengthen their foothold in the financial landscape, calls are increasing for a global response to regulate their use. Celso De Azevedo & Marc Samuels of 36 Commercial explore the most recent regulatory developments on both sides of the Atlantic
- As cryptoassets begin to occupy a central position in the financial markets, there have been increasing moves to strengthen their (currently limited) regulation in the UK and US, in order to protect consumers and prevent illegal activity.
Bitcoin’s bull run over the past year has seen its value reach a new peak of US$60,000 per Bitcoin in March 2021. In February 2021, the aggregate value of the 18.6 million Bitcoin tokens currently in circulation surpassed US$1trn, representing approximately half of the entire cryptocurrency market value of US$2trn. In parallel, the global market has seen other cryptocurrency prices rise alongside the share prices of many cryptocurrency-related businesses.
In the US, financial giants have started embracing cryptocurrency in novel ways: Mastercard is integrating Bitcoin into its payment systems and BNY Mellon has announced plans
