UK Unveils Regulatory Framework for Crypto Services Including Stablecoins and Staking
The UK Treasury has proposed new regulations to oversee cryptocurrency services, targeting stablecoins, staking, and custody providers. Draft legislation published on April 29 aims to bring crypto exchanges, dealers, and custodians under the Financial Conduct Authority’s supervision, aligning them with traditional financial service standards.
Chancellor Rachel Reeves framed the move as part of a broader strategy to position Britain as a global hub for financial innovation. "Robust rules will enhance investor confidence while fostering growth and protecting UK market participants," she stated. The regulatory expansion falls under the Financial Services and Markets Act 2000 amendments, signaling increased institutional acceptance of digital assets.
