UK Confirms Plans to Bring Crypto Under Stricter Regulation (1)

The UK government confirmed plans to regulate cryptoasset activities more strictly, bringing them under the same regime as traditional financial services.

The government intends to proceed with legislation in 2024 to implement the changes, according to a Treasury announcement on Monday, responding to a consultation it launched earlier this year.

The plans include a mandate for crypto exchanges to write detailed requirements on admission standards and disclosures for token issuers when listing new assets. This could include information about a token’s underlying code, known vulnerabilities and risks.

The UK’s push to regulate crypto is part of a wider effort by ...