US EditionPublished • loading... • Updated
UK regulation of cryptoassets to start in October 2027, finance ministry says
The UK will extend financial regulations to crypto firms under the Financial Conduct Authority, aiming to enhance consumer protections and market transparency, officials said.
- On Dec 15, the UK finance ministry announced Britain will begin regulating cryptoassets from October 2027, introducing legislation into Parliament on Monday and expecting rules by end-2026.
- The government said the regulation aims to provide `clear rules of the road` for firms, strengthen consumer protections for UK crypto users, and keep `dodgy actors` out while supporting legitimate crypto businesses.
- The Financial Conduct Authority will bring firms providing crypto services under its remit and plans bespoke rules while crypto exchanges and digital wallets register for anti-money-laundering rules.
- As a result, crypto firms will gain clarity and consistency to plan long term, with new rules making the industry more transparent and easier to hold firms accountable, Chancellor Rachel Reeves said.
- Looking internationally, the UK aligns its crypto regulation with the United States and will collaborate through a transatlantic taskforce, though Natalie Lewis said technical legal problems remain in the draft bill.
Insights by Ground AI
58 Articles
58 Articles
What new cryptocurrency regulations mean for investors
Regulation of cryptocurrency investments are set to be toughened up in a move to boost protections for investors.The Treasury has revealed that platforms where users buy and sell cryptocurrencies such as bitcoin will be “backed to innovate and grow” as the government seeks to make the UK a “global destination for digital assets”.The Financial Conduct Authority (FCA) is consulting on new rules to be introduced from 2027. A spokesperson for the Ci…
·Washington, United States
Read Full Article
Bitcoin, other cryptoassets' regulation in UK to start from October 2027
Following in the footsteps of other nations, the UK is gearing up to regulate Bitcoin and other cryptoassets from October 2027, as announced by the finance ministry on Monday. The impending regulation of cryptocurrencies in the UK is...
Coverage Details
Total News Sources58
Leaning Left5Leaning Right4Center6Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 33%
C 40%
R 27%
Factuality
To view factuality data please Upgrade to Premium
