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UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

“There is a risk of consumer confusion where regulated firms provide services involving cryptoassets. We expect firms to ensure that consumers understand the extent of business that is regulated and to clearly distinguish those elements which are unregulated business”

The UK Government plans to toughen up rules on crypto advertising that could be considered misleading. The Exchequer is proposing to bring the promotion of crypto-assets into the scope of the FCA’s existing oversight, rather than creating a new framework specifically for these products.

The FCA Chairperson, Charles Randell, has called for more powers to be given to the regulatory body so that it would be able to control and regulate the ads that are related to crypto to ensure that investors and users are not misled by these ads.