Bitcoin (BTC) and cryptocurrencyThe UK crypto industry is nearing the end of its regulatory work, which warns investors to be wary of cryptocurrencies.
of the Financial Times (FT) according to the report, including restrictions on foreign companies selling to the UK and advertising restrictions cryptocurrency It is finalizing a number of plans to regulate its industry.
Including the recent collapse of FTX in this package, the UK also added provisions to these regulations on how to deal with the collapse of companies.
The FT said sources familiar with the matter said the latest package of regulations would give the Financial Conduct Authority (FCA) broader powers to regulate the industry, including monitoring how firms operate and advertise their products.
With the said regulations, it is also possible to export from abroad in the UK market crypto- Restrictions will be placed on its sale.
The added restrictions on foreign companies will be added to a Financial Services and Markets Bill currently before the UK parliament.
This bill was designed to shape the UK’s post-Brexit financial sector and stablecoinIt contains sections that describe cryptocurrencies and crypto assets.
Prime minister Rushi Altar In a statement he made in April, he said the following about the regulation work in the UK:
“Effective regulation of the crypto industry will help make the UK a global hub for cryptocurrency technology.
And it will encourage crypto businesses to invest, innovate and scale in the UK.”
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