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UK prepares to regulate crypto sector

UK prepares to regulate crypto sector.

The United Kingdom has officially announced its plans for regulating the crypto sector. The government has proposed a number of measures aimed at regulating crypto assets in line with regulation of traditional financial services.

Proposals for consultations include tightening rules for crypto trading platforms and a secure regime for crypto lending through the tightening of rules for financial intermediaries and custodians.

“We remain steadfast in our commitment to grow the economy and enable technological change and innovation — and this includes cryptoasset technology. But we must also protect consumers who are embracing this new technology — ensuring robust, transparent, and fair standards.”

Read more at the link: https://www.finextra.com/newsarticle/41711/uk-government-outlines-plans-to-regulate-cryptoasset-industry