UK announces draft rules for the crypto industry, US cooperation

London published a draft law for the cryptocurstical industry on Tuesday, which abolished greater cooperation with the United States as it seems to regulate the wild world of digital assets.

Speaking at the Fintech event, Minister of Finance in Great Britain Rachel Reeves announced plans for a “comprehensive regulatory asset regime”, adding that the proposals will make the country “world leader in digital property”.

The rules will bring a crippto exchange, dealers and agents to the regulatory switch, “bad actors cracked, and support legitimate innovations,” said the Ministry of Finance in a statement in the announcement after Reeves’s remarks.

“CRIPTO companies with customers in the UK will also have to meet clear standards on transparency, consumer protection and operational resistance – just as companies in traditional finances,” said in a statement of the Treasury.

Reeves said that the United Kingdom planned to deepen regulatory cooperation with the United States to increase “responsible” adoption of digital assets. “In order for Great Britain to be a world leader in digital property, international cooperation is vital,” said the participant in the Fintech industrial group annual innovation summit.

The United Kingdom met with his counterpart Scott Scott last week to discuss trade agreement. It was previously announced that improving business connections with the European Union “probably more important”.

“The regulation must support the job, not keep it back,” Reeves said on Thursday.

CRIPTO Indiders Insiders say that financial administration is in connection with financial services in the UK – is too restrictive when it comes to approving digital resources to companies.

FCA is a regulator responsible for registering companies wishing to provide CRIPTO services within the Laundering Proposals in the UK