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UK Government Could Step Up Empowering Regulators for Crypto Assets’ Oversight

Abstract : A consultation will be launched to ensure which elements of crypto markets regulators should regulate.

ChainDD
ChainDD

Dec 21

December 21 (ChainDD) The U.K. government is ready to make financial regulators more powerful on crypto assets’ oversight, according to a report of the Financial Times.

After U.K.’s lawmarkers warned of risks a “Wild West” crypto market would pose to consumers, the Treasury said if some crypto assets act as securities, they will be regulated by the Financial Conduct Authority (FCA). Since it is not clear whether some crypto assets can apply to regulation in some cases, a consultation will be launched to ensure which elements of crypto markets regulators should regulate.

London’s mayor John Glen said the government will consult early next year to discuss whether other crypto assets should be included under regulation.

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