The UK has finalised its new rules for cryptoassets, incorporating the industry into the existing regulatory framework for traditional financial services.
Following a consultation, the Treasury issued a report today (30 October) detailing the responses and updated changes to a proposed wide-ranging set of regulation. The regulations, which have a focus on stablecoins and the financial promotion of cryptoassets, will be broken into two parts, with secondary legislation presented to parliament next year. Deep Dive: Tokenisation represents 'paradigm shift' for asset management Firms undertaking cryptoasset activities will now have to be authorised by the Financial Conduct Authority, which will include requirements for crypto exchanges t...
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