Crypto Update: UK Government Outlines Its Approach to Digital Asset Regulation | Skadden, Arps, Slate, Meagher & Flom LLP
[co-author: Martin Katunar]
In her first comments since the July 2024 UK general election, Economic Secretary to the UK Treasury Tulip Siddiq MP delivered a speech at the Tokenisation Summit on 21 November 2024 that outlined the recently elected UK government’s approach to digital asset regulation. In her address, Ms Siddiq highlighted the government’s commitment to fostering innovation in the financial services sector, offering insight into proposals and timing with regard to the government’s planned crypto regulation. The details of her speech are outlined below.
Cryptoassets Regulation
The government is standing by previous proposals to create new regulated activities for cryptoassets, including for the operation of a…
