Britain to bar consumers from borrowing to buy crypto under new regime

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Britain is to restrict consumers’ use of credit cards to buy crypto and their access to crypto lending products, the regulator said on Friday, a move aimed at improving protection as cryptoassets are regulated for the first time. The finance ministry this week said it would bring cryptocurrencies under compulsory regulation, with exchanges, dealers and issuers all coming under the existing rulebook.

Crypto trading has exploded in popularity, with around 7 million people – about 12% of the adult population – owning cryptoassets, but it remains largely…



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Britain to bar consumers from borrowing to buy crypto under new regime


Britain is to restrict consumers’ use of credit cards to buy crypto and their access to crypto lending products, the regulator said on Friday, a move aimed at improving protection as cryptoassets are regulated for the first time. The finance ministry this week said it would bring cryptocurrencies under compulsory regulation, with exchanges, dealers and issuers all coming under the existing rulebook.

Crypto trading has exploded in popularity, with around 7 million people – about 12% of the adult population – owning cryptoassets, but it remains largely…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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