UK Treasury Releases Final Proposal for Crypto Asset Regulation

According to Foresight News, the UK Treasury has released its final proposal for the regulation of crypto assets, outlining the government's intention to bring some crypto asset activities under the scope of financial services regulation for the first time. The government's stance is that companies dealing directly with UK retail consumers, regardless of their location, should be required to obtain authorization. The document describes that companies engaging in crypto asset activities must now obtain authorization from the UK Financial Conduct Authority (FCA), including a provision that requires cryptocurrency exchanges to provide detailed requirements for admission standards and mandatory disclosure when listing new assets.