The UK Treasury releases final proposals for crypto asset regulation, requiring crypto companies to obtain authorization from the Monetary Authority
On October 31st, the UK Treasury released the final proposal for regulating crypto assets, outlining the government's intention to bring some crypto asset activities into the scope of financial services regulation for the first time. "The government's position is that companies that deal directly with UK retail consumers, regardless of where they are located, should be required to obtain authorization." The document describes that companies engaged in crypto asset activities must now obtain authorization from the UK Financial Conduct Authority, including a provision that requires detailed requirements for admission standards and mandatory disclosure when listing new assets on cryptocurrency exchanges.
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