Here’s How the
to Close the
is gearing up to close the regulatory vacuum present in the
As such, the B
ank of England’s Financial
Policy Committee highlighted the need for enhanced regulatory and law enforcement frameworks in the sector.
In their latest report, the committee said that while the growth of
and their associated markets and services do not pose an immediate threat to the
UK financial system
valuations have fallen sharply. The market capitalization of crypto assets has fallen to
, from a peak of almost
in late 2021.
The recent events in the
, such as the liquidity crisis and leveraged positions being unwound, have amplified price falls.
is one of the hot-button issues in the crypto market that the regulators are keen on establishing important provisions.
UK’s top regulator –
Authority – said it will investigate Terra’s collapse while developing new rules for the asset class.
UK Chancellor and one of the senior-most Cabinet ministers,
wants Britain to be a “
” for crypto.
According to some estimations,
is among the favorites to be the
next Prime Minister
, which could further alter the local crypto ecosystema.
has called for public input on the taxation of crypto-asset loans and staking from decentralized finance