UK Cracks Open Crypto Rulebook—Mimics US Sandbox Play
Westminster drops long-awaited crypto legislation—finally catching up to 2023. The move mirrors America’s ’innovation sandbox’ approach, letting fintech firms test risky ideas without regulator handcuffs.
Key details buried in Treasury memos reveal: No more ’wild west’ free passes, but also no stranglehold on DeFi experimentation. Banks will hate this—unless they’ve already backdoored their own loopholes.
One cynical take? Another regulatory half-measure designed to lure blockchain startups... while traditional finance quietly builds moats around the castle.
UK, US Eye Innovation Hub Under Crypto Legislation
As part of its broader digital asset strategy, the UK is working with international partners to strengthen cross-border innovation in financial services. Chancellor Reeves confirmed that the UK is in early talks with the United States to develop a joint sandbox for testing digital securities—a move that could allow firms on both sides of the Atlantic to trial new technologies under coordinated oversight.
The initiative, originally proposed by U.S. SEC Commissioner Hester Peirce, is expected to feature prominently in discussions at the next UK–U.S. Financial Regulatory Working Group. Reeves recently met with U.S. Treasury Secretary Scott Bessent in Washington to explore new avenues for fintech collaboration, with both sides looking at how shared regulatory frameworks could help companies grow across markets.
The cross-border dialogue comes ahead of the UK’s upcoming Financial Services Growth and Competitiveness Strategy, set for release on July 15, which will outline the government’s long-term plans to make fintech a pillar of economic development.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
