For 13 years Stephen Hammond has been a member of Parliament, representing the Conservative Party but also served as an advisor for the IronX exchange for a couple of days, the Times reported today.
Hammond was tasked with providing guidance on the relationships with UK authorities to the platform. During the announcement, he said that mass adoption can be achieved only if regulations are in place.
It’s expected that would take the UK a bit longer to establish a framework to regulate the cryptocurrencies in comparison to other countries. Hammond was initially set to cooperate with IronX for a couple of days at a time each month.
However, due to concerns over a potential conflict of interest, Hammond has opted to quit his advisory role which he took up just under a week ago after “further advice”. He thinks that the “committee was likely to continue examining cryptocurrencies.”
Such a swift departure of the UK MP from the project will no doubt raise a few eyebrows.