Morgan Lewis partner William Yonge and associate Steven Lightstone share their insights on the UK’s approach to regulating cryptocurrency-related assets in a task force report by The Treasury, Bank of England and the Financial Conduct Authority. Yonge posits that authorities “want innovators to thrive, but only within the constraints of a well-regulated environment which seeks to mitigate the risks to consumers and market integrity and prevents the use of cryptoassets for illicit activity.” Lightstone adds that the task force has taken a “measured approach” and that more detailed rules will be proposed in consultations due soon.