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UK crypto rules: New regulation

  • On April 29, Chancellor Rachel Reeves and the UK Treasury unveiled draft legislation in London to regulate cryptocurrency services under the Plan for Change initiative.
  • The proposals respond to rising crypto adoption and aim to establish regulation like traditional finance, enhancing transparency, consumer protection, and operational resilience.
  • The framework covers exchanges, brokers, custody providers, stablecoin issuers, and staking services, requiring formal authorization for specified crypto activities.
  • Chancellor Reeves stated that their Plan for Change aims to position Britain as a global leader in innovation while ensuring consumer safety, noting that around 12% of adults in the UK currently own cryptocurrencies.
  • The new rules, expected to be finalized later in 2025, seek to boost investor confidence, curb illicit activity, and align UK regulation closely with US approaches by 2026.
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99 Bitcoins broke the news in on Tuesday, April 29, 2025.
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