To accomplish this, he said the Financial Conduct Authority and Bank of England will work towards automating regulatory compliance, with a view to reducing costs for firms, removing ‘a key barrier for fintechs as they enter financial services markets’. Two regtech pilots are expected to be running by the end of the year. The cryptocurrency task force will consist of HM Treasury, the Bank of Endlgand and the FCA and will look to explore the risks of such assets and the potential benefits of distributed ledger technology.  The task force is expected to report back in the summer.

http://citywire.co.uk/wealth-manager/news/chancellor-announces-crypto-task-force/a1103889