On October 31st, a16z policy director Brian Quintenz posted on social media that the UK Treasury has issued a conclusive statement on the regulation of cryptocurrency assets, which is exciting news. Andrew Griffith MP, the Economic Secretary to the Treasury, has made it clear that the government is very interested in embracing blockchain and crypto innovation, and remains committed to making the UK a global center for crypto asset technology. Now, with the outline of future regulatory frameworks becoming clear and the Financial Services and Markets Act having been passed, the UK will begin to expand its crypto asset business.