We hosted a two-day CryptoSprint event on 10 and 11 May 2022 to explore how the evolving world of cryptoassets could be regulated in the UK.
Around 100 participants from the crypto industry, financial services firms, academia, consumer groups and subject matter experts came together at the CryptoSprint and collaborated to inform the development of future regulations on cryptoassets.
In our three-year strategy, we commit to preparing financial services for the future by tailoring our rules to better suit UK markets in a global context. While we are working closely with international partners, our CryptoSprint provided an opportunity to explore what the UK policy solutions may be for this sector.
Over the two days, the participants worked in mixed-discipline teams to explore some of the challenges facing the industry, including how we can support and balance innovation with high standards that protect consumers and markets.
This is the first time we have gathered views from industry and other stakeholders to help shape future policy in this innovative and adaptative way. It builds on our established TechSprint approach and the Regulatory Sandbox, which has been followed by over 40 regulators globally and has helped the growth and innovation of over 50 blockchain firms.
This is the first of many planned industry engagements that will inform what a future regulatory regime for cryptoassets could look like.
We will share the outputs of our CryptoSprint in the summer.