It is reported that the British Ministry of Finance is finalizing a comprehensive rule package to regulate the cryptocurrency industry. Ministers are due to start consultations on a new regulatory regime shortly after the FTX debacle injected new urgency into the government's pledge to clean up the financial sector. Sources said the plan would allow Britain's Financial Conduct Authority (FCA) to oversee cryptocurrencies more broadly, including overseeing how companies operate and advertise their products, and sales of bitcoin from overseas into the UK market would also be restricted.

It is reported that the British Ministry of Finance is finalizing a comprehensive rule package to regulate the cryptocurrency industry. Ministers are due to start consultations on a new regulatory regime shortly after the FTX debacle injected new urgency into the government's pledge to clean up the financial sector. Sources said the plan would allow Britain's Financial Conduct Authority (FCA) to oversee cryptocurrencies more broadly, including overseeing how companies operate and advertise their products, and sales of bitcoin from overseas into the UK market would also be restricted.