UK Floats Proposals For Regulating Crypto-Assets

Law360, London (January 8, 2021, 1:47 PM GMT) -- The government has published details of how it will approach the regulation of crypto-assets, which could see virtual money such as Bitcoin fall under a "more stringent" financial crime regime.

HM Treasury is seeking responses from the virtual finance sector on the first stage of consultation on its approach to regulating crypto-assets, which include digital money and forms of traditional securities.

"The approach will be informed by evidence of potential take-up and where the most serious risks lie," John Glen, Economic Secretary to the Treasury, said. That approach will be "rooted in the principle of 'same risk, same regulatory outcome,'" he added.

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