UK Treasury drawing up new rules to police cryptocurrency markets | Cryptocurrencies
Cryptocurrencies will be regulated in a similar way to other financial products under legislation coming into force in 2027.
The Treasury is drawing up rules that will require crypto companies to meet a set of standards overseen by the Financial Conduct Authority (FCA).
Ministers have sought to overhaul the crypto market, which has ballooned in popularity as a way of investing money and making payments.
Cryptocurrencies have not been subject to the same regulation as traditional financial products such as stocks and shares, which means that in many cases consumers do not enjoy the same level of protection.
The government said the new rules would make the crypto industry more transparent, boost consumer confidence and make it easier to…
