Britain to bar consumers from borrowing to buy crypto under new regime


FILE PHOTO: Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON (Reuters) -Britain is to restrict consumers' use of credit cards to buy crypto and their access to crypto lending products, the regulator said on Friday, a move aimed at improving protection as cryptoassets are regulated for the first time.

The finance ministry this week said it would bring cryptocurrencies under compulsory regulation, with exchanges, dealers and issuers all coming under the existing rulebook.

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