The UK Treasury has released a consultation paper setting out plans to regulate cryptocurrency trading platforms and lenders as part of its financial services roadmap.

The Treasury said the consultation, which will be open for comment until April 30, aims to "bring confidence and clarity to consumers and businesses alike" in the hope of mitigating the worst risks of volatility and structural vulnerabilities, which Risk has plagued some of the industry's business models, keeping them in line with traditional finance.

The UK has so far taken tentative steps to regulate cryptocurrencies. The Financial Services and Markets Bill, first introduced to parliament in July by then-chancellor Nadhim Zahawi, included regulation of stablecoins and so-called “digital settlement assets.” #Web3 #crypto2023 #BTC