Cryptocurrency exchange Binance and stablecoin issuer Circle have submitted feedback to the UK government, which is considering a new framework to govern the trading and lending of digital assets. Binance said it needed to pay special attention to consumer protection, market integrity and financial stability, but warned that over-regulation could "inadvertently stifle innovation and growth, eliminate choice and competition, and potentially push consumers into unregulated markets or operations." business". Circle said the country should make the registration process for digital asset companies “simple and transparent, with clear indicative timelines and feedback from regulators on what is good or bad practice,” the company said in a blog post. Circle Urge HM Treasury to promptly disclose its plans to regulate fiat-backed payment stablecoins, further clarifying the distinction between 'crypto-asset' activity and payment-stablecoin-related activities involving the provision of payment services.