CoinVoice has learned that the UK Treasury is drafting new regulations aimed at bringing cryptocurrencies and digital assets under regulatory oversight.
Under this legislation, cryptocurrencies will be regulated in a manner similar to other financial products, expected to take effect in 2027. The new regulations will require cryptocurrency companies to meet a series of standards overseen by the Financial Conduct Authority (FCA). UK Chancellor Rachel Reeves stated that bringing cryptocurrencies under regulatory oversight is a key step in ensuring that the UK remains a leading global financial center in the digital age.
This move will provide clear rules for businesses while offering stronger protection for consumers, and will exclude criminals from the UK market. According to the proposed amendments, companies providing cryptocurrency services will fall under the jurisdiction of the FCA, and their services will be regulated like other financial products, including compliance with transparency standards. These companies include cryptocurrency exchanges and digital wallets, which must register with the FCA if their services fall under UK anti-money laundering regulations. [Original link]