Baby steps of crypto regulation not enough to spur industry interest

UK Treasury set out initial regulatin plans for crypto

clock • 3 min read

The UK Treasury’s initial plans for regulation of cryptocurrency, while a welcome step, is unlikely to spur immediate interest from the asset and wealth management industry, much of which is still eyeing the burgeoning asset with caution.

Yesterday (1 February) the UK government unveiled long-awaited plans on a regulatory regime for cryptocurrency. In its notice, the government outlined plans for crypto platforms to take on responsibility for facilitating transitions safely and keeping customers' assets secure. However, the Treasury backtracked on a previous pledge to align the regulation of crypto promotions with standards applied to stocks, shares and insurance products. Many experts applauded the initial steps taken by the government and noted it was positive that consumer protection was at their heart. Intera...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Investment

Clever Marlborough MPS now available to all UK advisers

Clever Marlborough MPS now available to all UK advisers

Uses quant-tech to analyse increasingly rapid market velocity

Jenna Brown
clock 21 September 2023 • 1 min read
Scotland Investment Roadshow: 2023: One week to go!

Scotland Investment Roadshow: 2023: One week to go!

Professional Adviser is back by popular demand this September

Professional Adviser
clock 21 September 2023 • 1 min read
Multi-Asset Roadshow 2023: Last chance for Cardiff, Bristol, London

Multi-Asset Roadshow 2023: Last chance for Cardiff, Bristol, London

Specialist events in Harrogate, Knutsford, Cardiff, Bristol and London

Professional Adviser
clock 18 September 2023 • 1 min read