Earlier this year, UK Finance teamed up with one of our associate members, KPMG, to produce a report on regulating unbacked cryptoassets. The detail of what precise rules may need to apply to an increasingly wide and complex array of crypto products, services and processes will inevitably take time to fully bottom out. However, there was clear appetite in our member workshops to look at the existing regulations and rules as a starting point. The collapse of a major crypto exchange during the time we were writing the report emphasised the need for some regulatory oversight to reduce consumer harm.. The existing regulatory framework, though not perfectly suited to these new innovations, is nevertheless a helpful starting point. This report will hopefully assist relevant stakeholders in marrying the UK’s regulatory frameworks to the novel world of unbacked cryptoassets.