Edinburgh reforms give hope to crypto investors

Edinburgh reforms give hope to crypto investors 

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Legislators in Edinburgh, Scotland are making concerted efforts to unlock various investment and development opportunities in the crypto sector.

Officials hope that having a regulatory framework in place will protect crypto consumer interests and strengthen confidence in the industry.

The Financial Services and Markets (FSM) Bill captures existing reforms to protect crypto investors. This will adequately meet stablecoin regulations, volatility management, and the use of crypto for payments.

improvement in positive direction

While other specific areas of the bill have yet to be brought into the public domain, regulatory oversight is no different from that enforced in neighboring cities with a crypto-friendly disposition.

Recall that on November 18, 2022, the University of Edinburgh teamed up with Cardano Builder and Input Output Global (IOG) to create the first ever industry-standard metrics for crypto decentralization, which will promote transparency in the crypto space.

The launch of the Edinburgh Decentralization Index (EDI) is expected to promote transparency in the crypto-space through a research-based methodology to produce a frame of reference.

Tax exemption will encourage crypto investment

Edinburgh authorities are also considering the possibility of adding crypto asset managers to their list of foreign investors with tax exemptions; This is believed to make it a competitive crypto hub.

According to Market Insights of Edinburgh, the tax exemption will reduce the risk of capital flight; Already has an estimated 43% market penetration rate. An Investment Drivers Analytics 2022 dashboard also showed that the sector is already moving towards the mainstream, and early investors are likely to get good returns.

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