UK introduced Draft Laws to Govern Crypto Exchanges
The UK government has introduced draft laws to regulate the cryptocurrency industry. The goal is to make the UK a global leader in financial innovation while keeping people safe from scams and risky companies.
The new laws, introduced by Chancellor Rachel Reeves at a major fintech conference in London, represent a significant step toward formally regulating cryptocurrency exchanges, dealers, and agents.
With about 12% of UK adults now owning or having owned cryptocurrencies like Bitcoin or Ethereum, up from just 4% in 2021, the government says it’s time to ensure users are better protected. Too often, people have been exposed to scams or risky firms.
The new regulations would require crypto companies that deal with UK consumers to follow…
