He helped ‘break’ the Bank of England – but now Scott Bessent is helping to shape its future. As a young hedge-fund manager, he served in George Soros’s firm when it made $1 billion on Black Wednesday. But as Donald Trump’s Treasury Secretary, he has overseen an explosion in cryptocurrencies this year which has left many in London looking on enviously.

While the use of cryptocurrencies such as bitcoin has trebled in Britain since 2021, this country’s governing framework has struggled to keep up. A shortage of political bandwidth has meant the UK lacks a national equivalent to Europe’s MiCA rules or America’s Genius Act, passed in July. Our policy is moulded by a trio of the Bank, the Treasury and the Financial Conduct Authority. All have commissioned a slew of reviews in recent years, as

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