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UK Finalizes Plan to Regulate Cryptocurrency Industry

By Simon LawsonDecember 6, 20221 Min Read
UK Finalizes Plan to Regulate Cryptocurrency Industry
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It is reported that the British Ministry of Finance is finalizing a comprehensive rule package to regulate the cryptocurrency industry.

Ministers are due to start consultations on a new regulatory regime shortly after the FTX debacle injected new urgency into the government’s pledge to clean up the financial sector.

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Sources said the plan would allow Britain’s Financial Conduct Authority (FCA) to oversee cryptocurrencies more broadly, including overseeing how companies operate and advertise their products, and sales of bitcoin BTC 0.54% from overseas into the UK market would also be restricted.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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Simon Lawson
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Simon Lawson has been a professional financial reporter for 6 years. He has in-depth research on the crypto industry and will release major crypto news in a timely manner.

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