UK prepares to regulate crypto sector
Government wants to “capitalise” on benefits of crypto assets while controlling the risks
The UK government laid out plans today (February 1) to regulate financial firms dealing in the riskiest forms of crypto assets.
Andrew Griffith, economic secretary to the Treasury, said crypto assets could have a “profound impact” on financial services. “By capitalising on the potential benefits offered by crypto we can strengthen our position as a world leader in fintech,” he said.
As well as the potential benefits, the government notes the risks associated with the “nascent” crypto sector
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