Crypto: As government consultation closes, what next for UK regulation?

Following the recent collapse of FTX, calls for legislation and consumer protection in the cryptocurrency industry have prompted the government to consult on crypto regulations.

Split into two phases, the first will focus on stable coins: those that are backed by flat currencies. Commenting on the second phase, which targets a broader range of activities such as the investment and trading of cryptoassets, Ludovico Lugnani states:

‘This phase will target key activities including public offers of cryptoassets, the operation of trading venues, investment management services, cryptoasset lending platforms, and custody services in the UK.’

Access the full article on the CityAM website.

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