ARTICLE · 09 SEPTEMBER 2024

UK Crypto Regulation – Update In Light Of HM Treasury's Response

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HM Treasury's 30 October 2023 response confirms plans to regulate UK cryptoassets under existing financial frameworks, with expanded territorial scope and stricter financial crime standards. It introduces regulations for crypto issuance, custody, trading venues, and lending, enhancing consumer protection and market oversight.

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On 30 October 2023, HM Treasury published its response to the 1 February 2023 consultation and call for evidence.

The UK crypto regulatory landscape is currently in a state of flux.

However, some stability could be on the horizon. On 1 February 2023, HM Treasury published a long-awaited consultation paper setting out plans for the UK to regulate crypto and protect consumers.

Earlier in the year, we wrote a blog entitled "UK crypto regulation – what changes does the recent HM Treasury Consultation Paper suggest lie ahead for UK crypto regulation".

On 30 October 2023, HM Treasury published its response to the 1 February 2023 consultation and call for evidence.

In this blog we examine the 30 October 2023 response.

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