In February 2023, HM Treasury released a report titled Future Financial Services Regulatory Regime for Cryptoassets (“the Report” for short) The Report asserts that the cryptocurrency market is developing at a faster pace and its complexity has greatly increased. However, like any emerging technology, this also brings both risks and opportunities. The ongoing volatility in the cryptocurrency market underscores these risks, highlighting the urgent need for clear, effective, and timely regulation by the government. The Report explores how UK authorities can ensure that the cryptocurrency market, just like the traditional securities market, can provide a comprehensive market operating model and protect consumers’ legitimate rights and interests. Excerpts from the main content of the Report are provided for reference.

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