Regulated UK crypto firms fear authorisation Groundhog Day

Industry wants grandfathering in new Treasury framework to avoid business continuity risk

Credit: Risk.net montage

The UK Treasury’s high-level plan for the regulation of crypto assets has left firms that already have licenses fearing they will have to start from scratch unless the new regime includes some recognition of existing authorizations.

The Treasury published a consultative plan in February to provide a comprehensive future regulatory regime intended to make the UK an attractive hub for crypto assets by bringing them under the Financial Services and Markets Act. But that comprehensive regime

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