UK to unveil crypto and stablecoin regulatory framework early next year

2024-11-22 00:12

The UK will introduce unified crypto regulations, including stablecoins, in early 2025. New rules aim to simplify oversight and avoid restrictive staking classifications. Labour government aims to compete with EU’s MiCA rules and US pro-crypto policies.

The United Kingdom is set to introduce a comprehensive regulatory framework for cryptocurrencies, stablecoins, and crypto staking services in early 2025, marking a pivotal shift in its approach to digital assets.

The announcement was made by the Economic Secretary to the Treasury Tulip Siddiq at City & Financial Global’s Tokenisation Summit in London on November 21.

Initially slated for December 2024, the regulatory rollout was delayed due to the change in government following the election of Prime Minister Keir Starmer’s Labour administration in July 2024.

The upcoming UK crypto regulatory framework

The upcoming framework consolidates regulations for crypto assets into a single, overarching regime, a decision Siddiq described as “simpler and more logical.”

The framework aims to provide clarity in a rapidly growing sector that has faced uncertainty in the UK.

Stablecoins will receive distinct treatment under these regulations, as their functionality does not align with existing payment services rules.

Siddiq highlighted that staking services would also avoid being designated as “collective investment schemes,” a classification that could impose burdensome restrictions.

UK aims to align with the global crypto regulatory landscape

The UK government’s renewed focus on digital asset regulation comes as it seeks to align with global developments. The European Union’s Markets in Crypto-Assets (MiCA) regulations will be fully enforced by the end of 2024, offering regulatory certainty that has positioned Europe as an attractive market for the crypto industry.

Meanwhile, the US, under President Donald Trump’s administration, has adopted a markedly pro-crypto stance, including the establishment of a White House “crypto czar” and SEC Chair Gary Gensler’s planned departure in January 2024.

The Labour government has shown its intent to catch up with international competition. In September 2024, it introduced a bill recognizing NFTs, cryptocurrencies, and carbon credits as property.

The new regulatory push reflects the UK’s ambition to regain credibility as a crypto hub while addressing criticisms of the Financial Conduct Authority’s perceived stringent oversight.

By delivering a robust, streamlined framework, the Labour government aims to bolster the UK’s standing in the multibillion-dollar crypto industry.

The post UK to unveil crypto and stablecoin regulatory framework early next year appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 19.117m EMD / 32m EMD

early rules crypto staking classifications labour avoid

Источник: coinjournal.net

early rules → Результатов: 38


Monetary Authority of Singapore To Add AML Rules To Crypto With Payment Services Act

The MAS (Monetary Authority of Singapore) has announced measures to update the existing regulatory framework guiding all digital payments. Announced early Tuesday morning, the PSA Act of 2019 (Singapore’s Payment Services Act) is aimed at introducing DPT (Digital Payment Services) under the existing AML and CTF (Anti-money laundering and counter-terrorist-financing) rules. By doing so, it […]

2020-1-28 17:44


Фото:

Satoshi’s Treasure: The Chase Is on for a $1 Million Bitcoin Prize

A treasure hunt for $1 million worth of bitcoin is officially underway. In a cryptic, rambling message broadcasted to the Blockstream Satellite on April 13, 2019, an anonymous user challenged the rest of the Bitcoin community to a million dollar hunt for what they called “Satoshi’s Treasure,” a contest which will “test the resolve, courage, intelligence, and savvy [sic] of would-be hunters,” the game master claimed.

2019-4-16 23:28


Is Bitcoin Having An Effect On American Elections?

The political world is filled with individuals who will do anything to get even the slightest advantage over their opponents.  With cryptocurrency in its early stages and largely misunderstood and unregulated, politicians are looking to digital assets as a way to pump their fundraising totals and possibly circumvent some of the rules that are in […] The post Is Bitcoin Having An Effect On American Elections? appeared first on ZyCrypto.

2018-10-27 21:56


Фото:

ICOs Get Green Light in UAE

The United Arab Emirates is set to give the green light to ICOs for corporate financing and could have provisional regulations in place early next year. Perhaps more significantly, the country’s Securities Watchdog has revealed a co-operation with local authorities in Dubai and Abu Dhabi to create unified rules for cryptocurrency exchanges.

2018-10-9 16:08


Фото:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

UK gambling industry escapes feared tax hikes in Autumn Budget

The UK gambling industry breathed a sigh of relief on October 30 when the Autumn Budget spared it from significant tax increases. Leading up to the announcement, concerns had mounted over potential tax raids that could have reshaped the sector, particularly for brick-and-mortar betting shops and online gambling operators. Concerns of tax hikes: two rumoured […]

Crypto exchange Bitget returns to UK with compliance-focused strategy

Cryptocurrency exchange Bitget has resumed its services in the United Kingdom after a six-month suspension, marking a return in line with the UK’s Financial Promotions Regime. Bitget’s renewed presence follows its May decision to halt onboarding new users due to updated regulations from the Financial Conduct Authority (FCA).

UK Regulator Justifies Tough Crypto Crackdown Amid Industry Pushback

The UK financial regulatory agency sticks to its decision to continue implementing stringent rules in the registration process of businesses involved in cryptocurrencies. The Financial Conduct Authority (FCA) asserted that UK’s tough regulations on crypto firms serve as a deterrence to prevent these companies from becoming conduits for any money laundering activities. Related Reading: Crypto […]