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Haydn Jones, Managing Director, Global Head of Blockchain and Cryptocurrency Solutions at Kroll has today commented on the Government’s plans to publish a response to the consultation on the Digital Securities Sandbox (DSS), as announced in The Chancellor's Autumn Statement.
Haydn Jones, Managing Director, Global Head of Blockchain and Cryptocurrency Solutions, Kroll
“With The Chancellor announcing the Government’s plans to publish a response to the consultation on the Digital Securities Sandbox (DSS) in his Autumn Statement, widespread adoption of digital asset technology is set to become more commonplace across financial markets both in the country and globally.
“While cryptocurrencies are not included in the DSS, asset classes such as debt, equity, and money market instruments will be accommodated. By responding to the DSS, it is apparent that innovation within digital asset technology is a priority for our government.
“Although it is a notable step in the right direction in terms of digital currency regulation and monitoring, it is our hope that we will see increased understanding and adoption of digital asset technology and therefore remove legacy frictional costs associated with the processing of financial instruments."
