Dec 5 (Reuters) - Britain's Treasury is finalising plans
for a package to regulate the cryptocurrency industry, including
limits on foreign companies selling into the country and
restrictions on advertising, the Financial Times reported on
The package will give the Financial Conduct Authority
broader powers to regulate the sector, including monitoring how
firms operate and advertise their products, sources familiar
with the matter told FT.
There would also be restrictions on companies selling into
the British market from overseas, as well as plans for how
crypto firms can be wound down, the people added.
These new regulations come on the heels of the market
turmoil following the collapse of cryptocurrency exchange FTX,
which filed for U.S. bankruptcy court protection last month.
(Reporting by Jyoti Narayan in Bengaluru; Editing by Stephen