A significant crypto market slump has brought concern and alarm, but also some unexpected side benefits. One such benefit comes from how financial regulators in the United Kingdom now appear sufficiently relaxed about crypto and its growth that they can take their time to carefully consider fair regulation. Without the pressures of a rapidly climbing crypto market, statements from officials have suggested that they will now avoid hastily implementing legislation — and as a result, the cryptocurrency industry in Britain will ultimately benefit from rules that protect customers and innovation alike.
However, while U.K. regulators now have more time to consider and consult on balanced regulations, this doesn't necessarily mean that Britain will soon be home to a lenient regime for cryptocurrencies and relevant businesses. Because of the massive 2017 surge that crypto enjoyed, the U.K. — like many other nations — laid down a blueprint for establishing cryptocurrency laws this year. And to a large extent, it's this plan that the Financial Conduct Authority (FCA) and other bodies will pursue in 2019, regardless of whether they have more time or not.