Chasing their tails? How can regulation keep up with crypto?

The arrival of bitcoin in 2009 heralded the start of the cryptoasset phenomenon and since then the market has exploded with new blockchain technologies and decentralised digital currencies. Regulatory authorities in the UK have long agonised over how to regulate products and activities within the cryptoassets arena, and whilst the government plays catch-up with the new markets evolving in this area, criminals are using the lack of law and regulation as an opportunity to launder money and “get rich quick”. In this article, Emma Radmore and Lucy Hadrill of Womble Bond Dickinson (UK) LLP explore the current regulatory landscape and what the future holds for crypto in the UK below.