Britain's finance ministry sets out draft rules to regulate cryptoassets

LONDON (Reuters) - Britain's finance ministry set out draft rules to regulate cryptoassets on Wednesday, saying ongoing turbulence in the sector and collapse of exchange FTX had highlighted risks that need addressing.

"Our view is that this reinforces the case for clear, effective, timely regulation and proactive engagement with industry," the ministry said in its proposals put out to public consultation.

(Reporting by Huw Jones; editing by Jason Neely)