Andrew Henderson, Financial Industry, FinTech, and Private Investment Funds partner explained the "bottom-up", incremental approach to cryptoasset regulation in the UK. "The UK has an advantage over EU member states, whose crypto businesses will become subject to an all-encompassing and directly applicable EU regulation," he said. Henderson added the gradual rollout and multiple consultations occurring in the UK have resulted in lawmakers closer to the industry and "able to listen", even if the industry does not always like what it gets. Henderson said this did not receive a "warm reception", as cryptoasset firms will have to become FCA authorized to market cryptoassets or hire FCA firms to approve their marketing material, but it did provide legal certainty. The Treasury announced its future regulation plans for cryptoassets. "The new regime will be integrated with the existing financial services and markets regulation creating a more even playing field." More in Investment Week.