Britain’s first crypto regulations to set ‘robust’ standards

Published by
Reuters UK

By Huw Jones LONDON (Reuters) – Britain’s finance ministry plans “robust” regulations for crypto assets, following the collapse of crypto exchange FTX last year, which left millions of people nursing billions of dollars in losses. Crypto is currently unregulated globally, with firms only having to carry out checks to prevent money laundering. However, Britain’s Financial Conduct Authority (FCA) has said that more than 80% of licence applicants were unable to show they could do this properly as “dark money” flows through the sector. The draft rules, to be published on Wednesday, would ensure ro…

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