UK Treasury finalises plans for crypto regulation amid FTX downfall - reports

Consultation of new regulatory regime

The UK Treasury is finalising plans to regulate the cryptocurrency industry, which will include a package of extensive new rules.

According to a report by The Financial Times, the regulatory changes could include a limit on foreign companies selling into the UK, provisions for how to deal with the collapse of companies and restrictions on the advertising of products. The government will shortly be launching consultation on the new regulatory regime after the collapse of FTX and the customer funds that were threatened by its downfall highlighted the urgency of imposing order in the sector, the newspaper said. This year, the Financial Conduct Authority started looking into the anti-money laundering controls of UK-...