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UK rejects gambling-like regulations for cryptocurrencies, opting for existing plans to tackle risks after FTX collapse. Disagrees with "halo effect" concern, emphasizes need for comprehensive measures. Global standards endorsed, deviation might drive crypto industry offshore.

Bitcoin market dynamics shift as Binance loses ground to rivals. Centralized exchanges' reserves, including Bitcoin, drop from 3M BTC in 2020 to 2M BTC. Binance's market share declines 3%. Industry faces volatility and legal challenges.

The Financial Stability Board (FSB) establishes a regulatory framework for cryptoassets, including bitcoin, to address volatility and vulnerabilities. The framework follows high-profile collapses, emphasizes stricter regulations, and supports innovation while managing risks.

The FSB proposes global regulations for crypto and DeFi. Separating funds, preventing conflicts of interest, and equal rules for G20 countries. Stablecoins need 1:1 reserves, reviewed by 2025.

The world of cryptoassets, led by Bitcoin and Ethereum, needs regulation. Decentralised ledger technology is revolutionary but risky. Regulators must step in to protect investors and the market. Regulation improves controls, transparency, and fosters trust for wider adoption and growth.