The UK Treasury has completed plans to regulate cryptocurrency.

The failure of the FTX exchange has sparked debate about proper crypto regulation among prominent people both inside and outside the crypto industry.

According to a Financial Times report on Monday, the UK Treasury is close to finalizing a plan to regulate cryptocurrency as part of the response to prevent future events like FTX.

According to the report, the development will enact "sweeping rules" in the industry.

Source: MyCryptoParadise News