6QhE43f4
type: Answer
type: WrittenAnswer
answer has question: 5tAKV7D8
answer has answering person: cpIYUtpa
answer text: The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards. In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions. As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services. In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.
answer given date: 2024-04-23+01:00
answer has answering body: HYfypSOE
written answer has answering body: HYfypSOE