UK aligns with US in drafting new crypto regulation
The UK government has decided to move forward with draft legislation that will bring cryptocurrency firms under formal financial regulation.
This signals that the UK is looking to adopt a framework similar to that of the United States. The proposals aim to impose transparency, consumer protection, and operational standards on crypto-related businesses operating within the country.
Under the new rules, companies involved in cryptocurrency exchanges, trading, and related services will be incorporated into the existing regulatory structure. This includes obligations for firms to adhere to established standards designed to limit risks and prevent malpractice. Officials from the UK finance ministry stated that the regulations…
