Anti-Financial Crime & Financial Crime Compliance
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Compliance, Crypto, UK

NEWS: UK Treasury sets out draft rules to regulate cryptoassets, including licence, minimum capital and liquidity requirements

REVIEW: Britain's financial services minister Andrew Griffth (pictured) said that he had asked the FCA to consider creating a domestic PEP regime to reflect the lower category of risk from those that have no international role.

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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