New rules on buying crypto in Britain as FCA aims to ‘protect’ investors
The UK is set to tighten regulations on cryptocurrency investments, aiming to protect consumers amid the first wave of comprehensive crypto regulation.
The Financial Conduct Authority (FCA) announced plans to restrict the use of credit cards for crypto purchases and limit access to crypto lending products.
This move follows the finance ministry’s announcement this week to bring cryptocurrencies under existing financial regulations, impacting exchanges, dealers, and issuers.
While crypto trading has surged in popularity, with an estimated 7 million adults (around 12 per cent of the population) owning cryptoassets, the market remains largely unregulated.
The FCA has…
