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Government set to regulate crypto firms – saying failure of FTX has forced their hand

By Charlie Conchie The government has confirmed it will press ahead with plans to bring crypto firms into the remit of regulators today as ministers, though spooked by high-profile failures such as FTX, look to turn the UK into a global hub for the sector. The government said in a consultation response published this morning it would begin drawing up legislation to force crypto firms to win authorisation from the Financial Conduct Authority. A consultation was launched by government earlier this year to weigh up the scale and scope of rules for the sector, still considered a ‘wild west’ by man…