Given the recent volatility and “structural vulnerability” within the cryptosphere, the government will strengthen rules for crypto trading platforms and crypto lending in line with traditional finance.
Economic secretary to the Treasury Andrew Griffith says that while the government is committed to growing the economy through leveraging new technologies such as crypto, “we must also protect consumers – ensuring robust, transparent and fair standards”.
The “ambitious plans” will ensure the UK benefits from this nascent industry while shoring up protections for consumers and firms against the potential “significant” risks, the government says.
