Treasury sets out plans to regulate crypto

‘World-first regime’

The UK Treasury has revealed its “ambitious” plans concerning long called for cryptocurrency regulation, placing much of the responsibility on crypto trading platforms.

In a statement released today (1 February) the government body said the plans will provide "clarity to consumers and businesses" on the speculative asset. Under the plans, crypto platforms would become responsible for defining the demands that a currency must meet before being admitted for trading. The exchanges will also be responsible for safely facilitating transitions and keeping customers' assets secure. Ex-chancellor Philip Hammond takes role at crypto firm This would be "a robust world-first regime for crypto lending", the Treasury said, although all proposals will be sub...