GANESH DHARMA
Britain's finance ministry plans "robust" regulations for crypto assets, following the collapse of crypto exchange FTX last year, which left millions of people nursing billions of dollars in losses. Crypto is currently unregulated globally, with firms only having to carry out checks to prevent money laundering. However, Britain's Financial Conduct Authority (FCA) has said that more than 80 percent of license applicants were unable to show they could do this properly as "dark money" flows through the sector. The draft rules, to be published on Wednesday, would ensure robust, transparent, and fair standards, consistent with the approach to traditional finance, Financial Services Minister Andrew Griffith said in a statement on Tuesday. "We remain steadfast in our commitment to grow the economy and enable technological change and innovation – and this includes cryptoasset technology," Griffith said. The new rules come after rising interest rates le