British regulators catch breath amid Bitcoin slump

A crash in the value of Bitcoin has bought UK regulators precious time to examine the market before deciding on a plan of action. Bitcoin’s value has collapsed to $4,500 per unit, having been riding at an all-time high near to $20,000 as recently as December 2017.

In an age of rapid technological advancement, regulators have been thrown into turmoil as to how best adapt their operations to continue monitoring their respective industries. While it has almost always been the case that laws play catch-up to innovation during periods of change, however, when it comes to cryptocurrency and its related technologies, regulators have been caught particularly flat-footed.

In a recent poll of executives by PwC, 48% of participants cited regulatory uncertainty as a top three barrier to their blockchain efforts. Of those, 27% listed it as a top level concern, as they remain unsure of how a rapidly shifting regulatory scene for the new technology might change, or even scupper its…