Food & Drink Award: Karan Chanana

Highlights

• Cryptocurrency companies will be regulated similarly to stocks and shares under new legislation.
• Rules aim to boost consumer protection and make it easier to detect suspicious activity.
• Government also planning to ban political donations made with cryptocurrency.

Britain will regulate cryptocurrencies like traditional financial products from 2027, the Treasury has announced, as it moves to overhaul the rapidly growing digital currency market.

New legislation will require crypto companies to meet standards overseen by the Financial Conduct Authority (FCA), providing consumers with protections similar to those for stocks and shares.