Crypto firms to be regulated like other assets under new UK rules
The Treasury announced legislation which will mean crypto firms have to meet a set of standards and rules overseen by the Financial Conduct Authority (FCA).
It follows efforts to overhaul the market which has grown in popularity in recent years as an alternative investment product and a way of making payments.
But it has not been subject to the same regulation as traditional finance products such as stocks and shares, which means consumers may not get the same level of protection.
The Government said the new rules, coming into force in 2027, will make the industry more transparent and make it easier to detect suspicious activity, impose sanctions or hold firms to account over their activity.
