UK Moves to Regulate Crypto, Eyes Closer US Ties Amid Industry Scrutiny
The UK government has taken a decisive step toward formalizing oversight of the cryptocurrency sector with draft legislation aimed at establishing a comprehensive regulatory framework. Finance Minister Rachel Reeves unveiled the proposal during UK FinTech Week, framing it as a balancing act between nurturing innovation and curbing illicit activities.
The new rules would impose traditional finance standards—including transparency, consumer protection, and operational resilience—on crypto exchanges, dealers, and agents operating in the UK. While compliance costs may rise, the move promises long-term legitimacy for the industry.