The writer is a former financial regulator
Regulate crypto or let it burn? While debate rages in the US (and across the pixels of the Financial Times), it is already over in the EU — and soon will be in the UK.
The Financial Services and Markets Bill is winding its way through parliament. It now includes a broad definition of crypto assets that will be subject to regulation. A UK Treasury consultation will fill in the details shortly. And in the EU, the Markets in Crypto Assets Regulation (Mica) was agreed this summer and will come in force by 2024.
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