The U.K. government on Wednesday announced plans to "robustly" regulate the cryptocurrency industry following the collapse of FTX and other crypto exchanges.  The proposals seek to govern crypto assets along the same lines as stocks, bonds, and other traditional financial assets. According to the U.K. government, the goal of the proposed rules is to protect consumers and businesses while allowing "a new and exciting sector to safely flourish and grow." The sweeping measures would strengthen laws around crypto lending practices, which contributed to the downfall of FTX. They would target risky loans made between various crypto firms and involving their financial intermediaries. Another rule would require greater transparency by crypto exchanges to make sure they publish disclosure documents and lay out clearer admission requirements for trading. The government also proposed a "crypto market abuse regime" to crack down on illegal activities such as money laundering. As many as 10% of U.K. adults are believed to own some type of cryptocurrency, according to lawmakers.