21Shares Files Comment Letter on UK Consultation for Digital Assets
May 7, 2023
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21Shares is pleased to announce that we have published a comment letter in response to the United Kingdom’s HM Treasury Consultation and Call for Evidence on “Future Financial services regulatory regime for cryptoassets.” As noted in the comment letter (link below), 21Shares welcomes HM Treasury’s goal of achieving a proportionate and clear regulatory framework for digital assets in the United Kingdom (and of course, worldwide).
To that end, we are committed to advancing financial markets that are regulated, safe, and reliable for investors, including those that have invested in the cryptocurrency industry. We believe that blockchain and cryptocurrencies are fundamental to the advancement of the world’s financial markets.
In our Comment Letter, we emphasized that exchange traded products (ETPs) offer investors a secure and regulated vehicle for investments into the cryptocurrency asset class - those benefits include exchange-listed liquidity, insolvency and cybersecurity protections, segregated institutional custody, and the ability to purchase shares via a standard brokerage account.
We urged the UK government to apply similar rules to crypto-backed ETPs that the UK has already applied to other ETPs that track underlying assets (such as gold-backed ETPs). Investors in crypto should benefit from the same protections that investors in other asset classes have access to.
Please find a link to 21Shares’ Comment Letter here.
Disclaimer
The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction, including the U.S. Some of the information published herein may contain forward-looking statements and readers are cautioned that any such forward looking statements are not guarantees of future performance, involve risks and uncertainties, and actual results may differ. Additionally, there is no guarantee as to the accuracy, completeness, timeliness or availability of the information provided and 21Shares and its affiliated entities are not responsible for any errors or omissions. The information contained herein may not be considered as economic, legal, tax or other advice and viewers are cautioned not to base investment or any other decisions on the content hereof.
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