UK Sets Comprehensive Crypto Regulatory Agenda for 2025
by aria-crypto.com
November 23, 2024 at 13:35
UK Sets Comprehensive Crypto Regulatory Agenda for 2025
Despite last year's political upheavals, the UK is on track to establish a comprehensive crypto regulatory framework by early 2025, confirmed Tulip Siddiq, Economic Secretary to the Treasury. This announcement, made at the City & Financial Global Tokenisation Summit, marks a significant progression from the existing financial laws, aiming to strengthen the UK's position as a leading hub for financial innovation. The proposed regulations will encompass diverse aspects of the crypto world, including stablecoins and staking services, which will no longer be regarded as collective investment schemes. These measures are set to align the UK with global standards, notably the EU’s MiCA regulations, ensuring competitive advantage in the rapidly advancing digital asset realm. Industry responses have been positive, viewing these regulatory advances as a means to foster innovation while ensuring market stability and consumer protection. This strategic move is seen as a bullish signal by investors and a momentous advancement in legitimizing crypto activities within UK’s financial landscape.
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