UK plans to regulate some cryptocurrencies to become a global hub for digital payments

Cryptocurrencies have exploded in popularity, leaving officials worldwide scrambling to figure out how to regulate them amid fears they could threaten financial stability and hurt consumers. Crypto proponents say the technology will make payments faster, easier and more transparent, while skeptics worry it could be used for illegal activities like money laundering and contribute to carbon emissions because of the heavy computing power needed to process transactions.

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