Bittrex Global CEO, Oliver Linch, has expressed his support for the UK Treasury's proposed regulations on crypto assets. He believes that these regulations could help the UK become a leading hub for digital assets. Linch, who has a background in regulatory policy, sees the proposed approach as practical and realistic. While some in the crypto community have given lukewarm responses to the regulations, Linch argues that they provide much-needed guidance and clarity. He believes that including crypto in existing regulatory frameworks could increase confidence among market participants, particularly large financial institutions. Linch also states that the UK government's decision to incorporate crypto within its financial services framework shows that it recognizes the significance of digital assets in the financial sector. The UK Treasury's final proposals aim to establish strict requirements for firms engaging with UK retail consumers. Crypto firms would need authorization from the Financial Conduct Authority and adhere to specific standards and disclosure requirements. Linch commends the government's response and emphasizes the need to focus on the positive aspects of the proposals. He notes that there is still more detail to come and highlights the UK's efforts to provide regulatory clarity in the crypto space.
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