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On this week’s episode of The Crypto Mile, our host Brian McGleenon spoke to former UK Chancellor of the Exchequer Philip Hammond about CBDCs, stablecoins and crypto’s place in world finance.Throughout his tenure because the UK’s financial minister, Hammond was seen as a conservative who targeted on fiscal self-discipline reasonably than innovation.Nonetheless he has now made a stunning enterprise into the world of cryptocurrencies, web3 improvements and digital asset infrastructure.Hammond’s entry into the digital asset realm got here when in late 2021 he grew to become senior advisor at Copper, a Metropolis of London-based crypto custody agency.Then, initially of 2023, he was appointed Chair of Copper, and regardless of market fluctuations, Copper has transitioned to develop into a number one supplier of institutional digital asset custody and buying and selling options.Because the crypto sector faces growing scrutiny from policymakers and regulators, the UK authorities is working to manage it via amendments to the Monetary Providers and Markets Invoice.Hammond believes that London wants to ascertain itself because the premier buying and selling venue for digitized property, to make sure the way forward for Britain’s monetary companies trade post-Brexit.The previous Chancellor of the Exchequer argues that London, now exterior the EU, is in peril of shedding its main place as a hub of economic companies and know-how, and the Metropolis must articulate a brand new narrative.Hammond believes that this new narrative facilities round web3 innovation, the digitizationof conventional markets and cryptocurrency buying and selling.
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