UK government vows to regulate the cryptocurrency market
The UK government has vowed to bring in cryptocurrency regulations. The Treasury has promised to bring in rules that will seek to “manage” the threats from the “turbulent industry” of virtual currencies like Bitcoin after the sector had a dramatic 2022 with assets dipping in value by a reported 75 per cent from their high in November 2021 of $3 trillion. Ministers believe up to 10 per cent of the UK adult population possess some form of crypto and intend to use present regulations - like the Financial Services and Markets Act 2000 -as a starting point to make a system supported by "confidence,...