The UK Treasury has released the final proposal for regulating crypto assets, requiring crypto companies to obtain authorization from the Financial Conduct Authority.

On October 31, BlockBeats reported that the UK Treasury released its final proposal for regulating crypto assets, outlining the government's intention to bring some crypto asset activities under the scope of financial services regulation for the first time. "The government's position is that companies that deal directly with UK retail consumers, regardless of where they are based, should be required to be authorized," the proposal stated. The document describes that companies engaging in crypto asset activities must now obtain authorization from the Financial Conduct Authority in the UK, including a provision that requires detailed requirements for admission standards and mandatory disclosures when listing new assets on crypto exchanges.