Innovate Finance and Shearman & Sterling has submitted a comprehensive evidence paper to the House of Commons Treasury Committee inquiry into crypto-assets.

Analysis produced by Innovate Finance specially for the Treasury Committee shows that in recent years the UK has been the leading destination after the USA for investment in distributed ledger technology (DLT) and crypto-asset based businesses. However, other countries are now catching up. So far this year, Singapore has overtaken and pushed the UK into third position.

To regain our position at the top, the UK needs to become a clear beacon of a “digital democracy,” building on its long-established traditions and reputation, while radically innovating in other areas. The paper sets out an action plan with short, medium and long term measures for government and regulators.