July 1 (Cointime) - Andreessen Horowitz has announced that it will open its first international office in London, citing the UK government's support for web3. With London already a hub for fintech innovation, the city has the potential to become a center for digital assets and web3 startups.

The UK government has passed the Financial Services and Markets bill, which includes provisions for crypto assets, and is committed to making the UK the world's web3 center. The Bank of England has appointed a new manager to oversee international and stakeholder engagement in its CBDC unit, and Andrew Griffith, the economic secretary to the UK Treasury, is responsible for the financial services sector, including fintech, crypto assets, and CBDCs. Regulatory strategy for stablecoin developer Circle in EMEA is led by Teana Baker-Taylor, who began her career in marketing for traditional finance companies before entering the crypto industry. She now expects further regulatory developments for crypto assets in the coming year with the passage of the Financial Services and Markets Bill.