UK government unveils new regulatory framework for Bitcoin and crypto assets
The post UK government unveils new regulatory framework for Bitcoin and crypto assets appeared on BitcoinEthereumNews.com. Key Takeaways The UK introduced draft legislation to regulate crypto assets aimed at consumer protection and boosting investor confidence. Crypto firms in the UK will need to adhere to regulatory standards for transparency and operational resilience similar to traditional financial entities. The UK government has published draft legislation to regulate crypto assets like Bitcoin and Ethereum, aiming to protect consumers and boost investor confidence amid growing crypto adoption. Unveiled during UK Fintech Week by Chancellor Rachel Reeves, the proposed rules form part of the government’s broader Plan for Change agenda, which aims to position Britain as a global hub for fintech and responsible digital asset innovation. Under the new framework, crypto firms offering services such as exchanges, custody, and brokerage for crypto assets must meet robust standards on transparency, consumer protection, and operational resilience — standards currently applied to traditional financial institutions. “Through our Plan for Change, we are making Britain the best place in the world to innovate — and the safest place for consumers. Robust rules around crypto will boost investor confidence, support the growth of fintech and protect people across the UK,” said Chancellor Reeves. The legislation seeks to address the sharp rise in crypto adoption across the UK, where 12% of adults now own digital assets, up from just 4% in 2021. This growth, however, has exposed thousands of consumers to risky, unregulated platforms and scams. The new rules will, for the first time, place exchanges and intermediaries handling digital assets under UK regulatory authority. This will give regulators the tools to target bad actors while fostering responsible innovation through clear, enforceable standards. Transatlantic cooperation on digital asset growth In addition to domestic reforms, the UK is strengthening its international regulatory ties. Chancellor Reeves revealed that the UK is engaging with the US through the UK-US…
The post UK government unveils new regulatory framework for Bitcoin and crypto assets appeared on BitcoinEthereumNews.com.
Key Takeaways The UK introduced draft legislation to regulate crypto assets aimed at consumer protection and boosting investor confidence. Crypto firms in the UK will need to adhere to regulatory standards for transparency and operational resilience similar to traditional financial entities. The UK government has published draft legislation to regulate crypto assets like Bitcoin and Ethereum, aiming to protect consumers and boost investor confidence amid growing crypto adoption. Unveiled during UK Fintech Week by Chancellor Rachel Reeves, the proposed rules form part of the government’s broader Plan for Change agenda, which aims to position Britain as a global hub for fintech and responsible digital asset innovation. Under the new framework, crypto firms offering services such as exchanges, custody, and brokerage for crypto assets must meet robust standards on transparency, consumer protection, and operational resilience — standards currently applied to traditional financial institutions. “Through our Plan for Change, we are making Britain the best place in the world to innovate — and the safest place for consumers. Robust rules around crypto will boost investor confidence, support the growth of fintech and protect people across the UK,” said Chancellor Reeves. The legislation seeks to address the sharp rise in crypto adoption across the UK, where 12% of adults now own digital assets, up from just 4% in 2021. This growth, however, has exposed thousands of consumers to risky, unregulated platforms and scams. The new rules will, for the first time, place exchanges and intermediaries handling digital assets under UK regulatory authority. This will give regulators the tools to target bad actors while fostering responsible innovation through clear, enforceable standards. Transatlantic cooperation on digital asset growth In addition to domestic reforms, the UK is strengthening its international regulatory ties. Chancellor Reeves revealed that the UK is engaging with the US through the UK-US…
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