Government promises robust crypto regulation

The government is announcing measures to “robustly” regulate the cryptocurrency industry. It says the proposals being published on Wednesday will give consumers confidence while allowing the sector to “thrive’.

critics say ministers should take a cautious approach, given the industry’s prolonged global slump. the crisis has seen companies collapse, crypto values tumble and customers lose huge sums of money.

The Treasury says its proposal on which it is launching consultation. Ensure customers’ assets are returned to them if a crypto business goes bust lay down rules on crypto asset promotions which are fair, clear and not misleading enhance data reporting requirements including regulation.

Implement new regulations to prevent the so-called pump and dump where an individual artificially inflates the value of a crypto asset before selling it.