{"id":73422,"date":"2023-02-01T16:38:00","date_gmt":"2023-02-01T14:38:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73422"},"modified":"2025-09-09T14:04:48","modified_gmt":"2025-09-09T11:04:48","slug":"uk-treasury-unveils-plans-to-regulate-crypto-exchanges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/uk-treasury-unveils-plans-to-regulate-crypto-exchanges\/","title":{"rendered":"UK Treasury unveils plans to regulate crypto exchanges"},"content":{"rendered":"<p>The UK Treasury<a href=\"https:\/\/www.gov.uk\/government\/news\/uk-sets-out-plans-to-regulate-crypto-and-protect-consumers\"> published<\/a> a consultative report on implementing oversight of cryptocurrency exchanges and lending platforms with a view to uphold\u00ading &#8216;fair and reliable standards&#8217;.<\/p>\n<p>The initiative aligns with the Financial Services Roadmap. Public comments are invited until 30 April.<\/p>\n<p>The document&#8217;s aim is to instill &#8216;confidence and transparency for consumers and businesses&#8217;.<\/p>\n<p>The department expects to mitigate the most serious volatility and structural vulnerabilities affecting certain business models in the sector by bringing them in line with <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span>.<\/p>\n<p>The proposals would hold crypto exchanges to define detailed requirements for asset admission documents and disclosures.<\/p>\n<p>The measures also envisage tighter rules for financial intermediaries and custodians.<\/p>\n<p>The regulator will seek views on improving market integrity and consumer protection.<\/p>\n<p>Earlier, Bank of England deputy governor Jon Cunliffe<a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-england-calls-for-regulating-cryptocurrencies-in-line-with-traditional-markets\"> proposed<\/a> regulating digital assets in line with traditional finance. He also noted that decentralized protocols <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-england-flags-risks-in-the-defi-sector\">do not yet provide<\/a> an effective way to manage risks.<\/p>\n<p>In December 2022, Cunliffe<a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-england-calls-for-regulation-of-cryptocurrencies-before-problems-arise\"> urged<\/a> the creation of a regulatory framework for cryptocurrencies before the emergence of &#8216;systemic problems&#8217;.<\/p>\n<p>Earlier in Parliament, <a href=\"https:\/\/u1f987.com\/en\/news\/uk-includes-digital-assets-in-the-financial-services-and-markets-bill\">introduced<\/a> a Financial Services and Markets Bill that included regulation of digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK Treasury published a consultative report on implementing oversight of cryptocurrency exchanges and lending platforms with a view to upholding &#8216;fair and reliable standards&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":73423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,36,810],"class_list":["post-73422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-regulation","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=73422"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73422\/revisions"}],"predecessor-version":[{"id":73424,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73422\/revisions\/73424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73423"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}