UK regulators have laid the groundwork for the regulation of cryptoassets and distributed ledger technology (DLT), such as blockchain, with the publication of a long-awaited report.
The HM Treasury-led Cryptoasset Taskforce report, published on Monday (30 October), focusses on consumer protection concerns linked to the use of cryptocurrencies, but also outlines how regulation could support innovation and competition. By the end of 2018 the taskforce, which is comprised of the Treasury, the Bank of England and the Financial Conduct Authority (FCA), will clarify which cryptocurrencies fall within existing regulatory standards and, for those that do not, where regulatory standards must be extended. Perhaps most significantly, the taskforce will publish a consultatio...
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