The treasure and chancellor of the UK of the chessboard, Rachel Reeves, proposed new cryptography rules aimed at “supporting[ing] Innovation while repressing fraudsters. »»
In a notice of April 29, the British government announcement Rules of rules for cryptocurrencies, including bitcoin (BTC) and ether (Ethn), this would lead to “exchanges of crypto, dealerships and agents” in accordance with regulations, because many residents were “exposed to companies and risk scams”. He cited discussions with American officials, including a US-UK cross-border sandbox offered From Hester Peirce of the Securities and Exchange Commission.
“Today’s announcement sends a clear signal: Great Britain is open to business – but closed to fraud, abuse and instability,” said the opinion. “The Government will present the final legislation of cryptocurrencies in the first opportunity, following the commitment on the project of arrangements with the industry.”
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Treasury and Reeves said the United Kingdom was determined to make the country a “world center for digital asset technologies”, referring to the objectives of the previous government as part of the Conservative Party. A Consultation document in 2023 of the Treasury proposed “to bring a wide range of crypto -support activities” – including Trading and emissions of stablescoins – in accordance with British regulations.
Praise of industry
In a shared press release with Cintelelegraph, Ian Silvera, associate director of the cryptouk of the Commercial Autoregulation association, described the government’s announcement “very well received and a great victory” for cryptographic companies. However, he added that industry could also benefit from the regulatory clarity on the liquid milestone and the challenge.
“Although there have been good regulatory progress compared to [Financial Conduct Authority]Who published his Crypto roadmap at the end of last year, the British government was first committed to becoming a global crypto center in 2022, “said Silvera.” The progress has been slow since then, but as the Chancellor has recognized itself, the collection of industry continued in 2021.
The FCA plans to publish final rules On crypto during 2026, putting the foundations of the British regulatory regime to be put online. The roadmap towards greater regulatory clarity in the United Kingdom could follow the European Union, which started to implement Its markets within the framework of crypto-sets (Mica) in December.
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