Technology | The Guardian

Bitcoin may be overseen by UK’s financial regulator

December 20, 2018 at 12:38PM

Treasury presses for FCA to regulate cryptocurrencies to protect consumers and prevent money laundering

The UK government said it “stands ready” to empower Britain’s financial regulator to oversee all cryptocurrency assets, after a warning from MPs that bitcoin and other cryptocurrencies were “wild west” assets that exposed consumers to a host of risks.

While some crypto-assets are regulated by the Financial Conduct Authority (FCA), many others, such as bitcoin, are not, the Treasury noted in its response to a report from the Treasury select committee published in September, which called for regulation to protect investors and prevent money laundering.

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