What extra regulation is required? There's the usual KYC/AML stuff. Perhaps it'll be something to do with custodial requirements for exchanges and so on. It is a little odd that there isn't one single bit of crypto legislation in the UK considering the efforts elsewhere. Perhaps that's a factor in banks being so crypto averse.
Reading things between the lines, this can turn out to be good news for Bitcoin. We all live in a world of compromise and so some regulations in place are not necessarily hindrance to the growth of Bitcoin and can even sprout new opportunities. maybe Barclays have already decided to jump into the Bitcoin bandwagon and can even be thinking of taking advantage of the blockchain technology which is open for everybody.
It would indeed help if Britain can come up with a legal framework for Bitcoin so that fintech companies can be guided and there would be more that can be attracted to base in the UK. It seems to me that this will not be the last for a big bank to be push for safety regulations on Bitcoin and we will see later what are their true intentions are.
