The Chancellor of the Exchequer of great Britain Philip Hammond (Philip Hammond) announced today the creation of a “task force scriptactive” and many other initiatives in the field of Finance. It is reported by Coindesk.
According to official data from Her Majesty’s Treasury, today, the second Ministerial conference International Fintech Conference, Chancellor Hammond will talk more about this group. It is already known that it includes the Bank of England (BoE), the Office to monitor financial activity and the Treasury.
The initiative is part of British Strategy in the sector of financial technologies and aims to “help the UK to manage the risks that carry scriptactive, and use the full potential of the technology.”
In addition to the operational group, the Strategy includes “advanced mechanisms of assistance to new FINTECH companies and the financial industry to adapt to the legislation, including the development of software which ensures the legality of their activities, thus saving them (companies — approx. CoinMarket.News) time and money.”
In addition, in an official statement reported the creation of a “financial technological bridge” between the UK and Australia. This will ensure the interaction of the relevant markets of the two countries and help UK companies to enter the international level. Among the other innovations of the Strategy is the introduction of common standards to facilitate cooperation with banks and the creation of “common platforms” to remove barriers between the FINTECH sector and the government. More about these platforms is not known.
Recall that the Bank of England has launched FINTECH accelerator in the last year.