Britain’s finance ministry sets out draft rules to regulate cryptoassets

Published by
Reuters UK

By Huw Jones and Elizabeth Howcroft LONDON (Reuters) – Britain’s finance ministry laid out its first set of rules to regulate cryptoassets on Wednesday, saying ongoing turbulence in the sector and the collapse of exchange FTX highlighted risks that need addressing. Cryptoassets, such as bitcoin, have little direct regulation globally, but regulators are taking a closer look after the downfall of FTX last year, which left millions of investors nursing losses totalling billions of dollars, some of them in Britain. “Our view is that this reinforces the case for clear, effective, timely regulation…

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