crypto regulation Balanced News


Source: https://www.coindesk.com/policy/2023/01/11/five-uk-associations-form-crypto-alliance-to-steer-digital-asset-regulation/
Source: https://www.coindesk.com/policy/2023/01/11/five-uk-associations-form-crypto-alliance-to-steer-digital-asset-regulation/

U.K. government passes bill to regulate crypto, U.S. regulators warn banks about crypto.  


Balanced Summary: Five UK associations have formed a crypto alliance to steer digital asset regulation, as the U.K. government is set to pass the Financial Services and Markets Bill by April, giving regulators more power to regulate crypto, including stablecoins [0].




Perspectives


House Republicans


House Republicans have moved to regulate the crypto industry with a new subcommittee, hoping to set the agenda for crypto [1].

French Legislators


French legislators are being looked to as regulators back mandatory licensing for crypto firms, raising a number of problems [2].

U.S. Regulators


U.S. regulators have warned banks about crypto after the FTX collapse, citing "contagion risk" [3].

Margaret Revolution


Beware the dangers of crypto regulation, as overregulation can have negative effects on small businesses [4].




Takeaway


Crypto regulation is necessary, but should be done with caution to avoid overregulation.




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