IMO, I think leverage is gambling, not just in crypto but in the stock market, bond market, and any other market.  If you're trading with other people's funds hoping to outpace the interest you're paying on the borrowed funds with the profits from your investment....that's pretty much gambling.

However, investors/speculators should be allowed to do it, but within reason.  You remember Long Term Capital Management in 1998?  They almost wrecked the whole financial system because they used so much leverage it baffled the investigators.  And individual investors can easily get in way over their heads and lose everything.  I would support some regulation, but I lean more toward freedom to trade how you like.

I haven't heard anything about this, as I don't live in the UK and don't follow news.  Can you give me a TL;DR?