UK Treasury plans to exclude derivatives and ‘unbacked’ tokens from regulatory sandbox By Cointelegraph
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The treasury department of the United Kingdom has proposed excluding unbacked cryptoassets and derivatives from its plans for a Digital Securities Sandbox.
In a consultation paper released on July 11, HM Treasury said the regulatory sandboxes which will be established under the country’s Financial Services and Markets Act will provide the U.K. government the time to modify existing legislation, if needed, for crypto products. The proposed framework was aimed at giving firms the opportunity to operate as parliament considers where its products or services may fall under existing regulations.
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The treasury department of the United Kingdom has proposed excluding unbacked cryptoassets and derivatives from its plans for a Digital Securities Sandbox.
In a consultation paper released on July 11, HM Treasury said the regulatory sandboxes which will be established under the country’s Financial Services and Markets Act will provide the U.K. government the time to modify existing legislation, if needed, for crypto products. The proposed framework was aimed at giving firms the opportunity to operate as parliament considers where its products or services may fall under existing regulations.
Continue Reading on Coin Telegraph
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