🚨 🇬🇧 The British Treasury is drafting new regulations aimed at including cryptocurrencies and digital assets in the regulatory framework. According to this legislation, cryptocurrencies will be regulated similarly to other financial products, with enforcement expected in 2027. The new rules will require cryptocurrency businesses to adhere to a series of standards supervised by the Financial Conduct Authority (FCA). British Chancellor Rachel Reeves stated that the integration of cryptocurrencies into the regulatory framework is a key step to ensure the UK's position as a leading global financial center in the digital age. This initiative will provide clear rules for businesses, enhance consumer protection, and exclude malicious actors from the British market. According to the proposed amendment, businesses providing cryptocurrency services will be incorporated into the FCA's jurisdiction, and their services will be regulated like other financial products, including compliance with transparency standards. These businesses include cryptocurrency exchange platforms and digital wallets, which will need to register with the FCA if their services fall under the UK's anti-money laundering regulations.
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