New cryptoasset rules for driving growth and consumer protection

Companies that offer services for cryptoasets such as Bitcoin and Etherm will be subject to new, clear rules, strengthening investor confidence and driving through plan changes.

At the main summit in London that Mark of Big Sunday in the UK would reveal that the United Kingdom announced the Draft Law on Kruptoases Regulation – Better protection of millions of people in Britain.

About 12% of adult adults by Great Britain now own or owned crypto, worse than only 4% in 2021. years, but consumers are other exposed to risky firms and fraud.

According to the new rules, Cripto exchanges, dealers and agents will be brought to the regulatory rim – discharge of bad actors while supporting legitimate innovations. CRIPTO companies with Pricabama in the UK will also have to meet clear standards on transparency, consumer protection and operational resistance – just like companies in traditional finance.

The Chancellor also found that Great Britain and the United States will use the upcoming UK – an American financial regulatory group to continue engagement to support use and responsible growth of digital assets.

This monitors the discussions in Washington between the Chancellor and the American Secretary of the Treasury, Scott Bessent, where they also discussed opportunities to support innovation on both sides of the Atlantic. This includes watching ideas so that we can allow greater cooperation on digital securities between Great Britain and the US, including the proposals of the SEC Commissioner Hester Peirce for Transatlantic sandboxes for digital securities.

Rachel Reeves, Chancellor Cashier, said:

Through our plan for change, Britain We make the best place in the world to innovate – and the safest place for consumers. The robust rules around the CRIPT will increase investor trust, support the growth of Fintech and protect people throughout the United Kingdom.

Today’s announcement sends a clear signal: Britain is open to work – but it is closed for fraud, abuse and instability.

The chancellor also announced that the government would publish first strategies for the growth and competitiveness of financial services 15. July, together with a house in the house in Mansion. This will support the long-term growth of the financial services sector, and Fintech was identified as a priority sector and help financing investment and growth through the United Kingdom.

The government will submit the final cruptoasset legislation at the earliest opportunity, after engagement on the draft provisions with the industry.

More information

• Invurriant Ardi Financial Procedure (FCA) Consumer research revealed that about 12% of adults in the UK owned by crypto in 2024. years in 1924. years, more than 4% in 2021. Years.
• Consultations for cash registers were proposed. Years of wide range of cryptoasset activities – including exchanges and detention services – within the regulatory rim of financial services in the UK.
• The government has remained dedicated that a large amount in the UK makes the global hub for digital funds technology, harmonized with a change plan to force growth, innovation and security.
• Read the drafts of legislation and accompanying policy explanations.