THE UK TREASURY is to set out draft rules to regulate cryptoassets this week (Wednesday), saying ongoing turbulence in the sector and the collapse of exchange FTX highlighted risks that need addressing.
Cryptoassets, such as bitcoin, have little direct regulation globally, but regulators are taking a closer look after the downfall of FTX last year, which left millions of investors nursing losses totalling billions of dollars, some of them in Britain.
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