Britain on Tuesday announced the publication of draft laws on the crypto industry and breaking news about its cooperation with the US in regulating the world of digital assets.
UK Finance Minister Rachel Reeves announced plans for a more robust comprehensive regulation of crypto risk assets and to make the country a world leader in digital assets.
The legislation focuses on crypto exchanges, sellers and agents in the regulatory fold, as well as cracking down on any malicious crime and supporting legal innovation.
She added that crypto firms and customers in the UK will have to adhere to clear standards of transparency, consumer protection and operational resilience, similar to those in traditional finance.
Last week, Reeves met with his counterpart Scott Bessent, the US Treasury Secretary, to discuss a trade deal and said that improving business relations with the European Union was crucial.
Previously, crypto industry market participants labeled the UK financial services watchdog, the Financial Conduct Authority (FCA), as being too strict in approving the registration of digital asset firms.
The FCA is the regulator responsible for registering firms that wish to provide crypto services within the scope of money laundering regulations in the UK.
