UK Reveals Draft Crypto Laws for Growth, Investor Protection

[TomPluz]

The United Kingdom has unveiled draft crypto laws that aim to give investors confidence while regulating more parts of the industry. Around 12% of UK citizens owned cryptocurrency as of August 2024.

A 27-page draft document of Order 2025 of the Financial Services and Market Act 2000 and an accompanying policy explainer highlights new definitions for crypto assets like stablecoins, while bringing acts like custodying crypto assets and operating crypto exchanges into the regulatory fold.

“Through our Plan for Change, we are making Britain the best place in the world to innovate—and the safest place for consumers,” said UK Chancellor of the Exchequer Rachel Reeves, in a statement. “Robust rules around crypto will boost investor confidence, support the growth of fintech, and protect people across the UK.”

Get more details on this development in Decrypt.Co.


I am really hoping that this can be approved as a law for crypto in UK and though this can mean more regulations for the industry it can come with many possible benefits. I am not familiar with the UK crypto scene but I am sure they can be able to contribute a lot to the industry if given the chance to and not anymore think of what can be later with murky treatment from the government. There is really that need to clear things and to define matters so that the field is fair and a lot simpler.

What do you think on this possible coming UK regulatory law on crypto?

[target]

While US is also tackling stablecoin bill, so is UK which they said is a collaboration of US and UK. It took so long for this bill to be approved already, there have been several house hearings for stablecoin but nothing so far has come out to be making it look good. They should fast-forward the approval of this bill and make things right already.

[Bobcrypto]

While US is also tackling stablecoin bill, so is UK which they said is a collaboration of US and UK. It took so long for this bill to be approved already, there have been several house hearings for stablecoin but nothing so far has come out to be making it look good. They should fast-forward the approval of this bill and make things right already.

Yes, this bills are very crucial for the growth of cryptocurrency, and as it stands, this two countries are the backbone of economic policies and effective laws that can make the crypto sector prosperous.
Well, I think that the process of approving or passing a bill into law take some time, but hopefully, there should a positive outcome from the house in near future in my views.

[bitterguy28]

I am not familiar with the UK crypto scene but I am sure they can be able to contribute a lot to the industry if given the chance to and not anymore think of what can be later with murky treatment from the government. There is really that need to clear things and to define matters so that the field is fair and a lot simpler.

what’s quite interesting is i just recently found out that uk left eu a few years ago eu doesn’t seem to be that open when it comes to crypto if the ban of tether is anything to go by so maybe uk leaving eu was a good thing after all and now they can make their own path when it comes to crypto

many countries are looking to set proper and official regulations about crypto and it seems like they are heading towards positive direction so i guess these regulations may bring more benefits after all at least the industry will now be officially realized

[hugeblack]

Without knowing the details of the law, we won't be able to take a stand, but regulation usually means more taxes, reporting of all sales and purchases, and it won't stop or reduce fraud.

[Finassets]

Looks like a solid step toward clearer regulation, which could help build trust and support safer growth in the UK crypto space. However, added bureaucracy might slow down innovation or make it harder for smaller projects to stay compliant. Let’s see how it plays out in practice.

[Zed0X]

I would not be too optimistic if this is UK or the EU. I mean these regions are probably the most notorious when it come to regulations. I don't expect developers to be as free to innovate as they want it to be. It will probably be the tech giants that will dominate the crypto market there.