LSEG to Expand its Digital Offerings
The London Stock Exchange Group (LSEG) has announced its search for a director of digital assets, expressing its interest in cryptocurrencies and distributed ledger technology. The successful candidate will play a crucial role in developing a commercial strategy for new infrastructure solutions and capabilities, while also expanding LSEG's brand and ecosystem in digital private markets.
Blockchain Technology for Traditional Assets
Earlier this month, the London Stock Exchange revealed its plans to leverage blockchain technology for a trading platform dedicated to traditional assets. While the institution remains cautious about cryptocurrencies, this move highlights its commitment to enhancing the efficiency of holding, buying, and selling traditional assets.
Regulatory Environment in the UK
The United Kingdom has recently taken steps to regulate the cryptocurrency industry. A new bill grants authorities the power to seize Bitcoin used for criminal activities, while plans for stablecoin regulations are set to be introduced in October. Additionally, the UK's financial watchdog has issued a marketing compliance warning to crypto companies and set a deadline for them to align with its standards by January 2024.
