UK Passes Bill Establishing Crypto and Stablecoins as Regulated Financial Activities

CryptoPotato
CryptoPotato

30 Jun 2023 7:05 AM

Britain has taken another step towards having a fully regulated crypto framework with the royal approval of the Financial Services and Markets Bill....

  • Britain has taken a step towards having a fully regulated crypto framework with the royal approval of the Financial Services and Markets Bill.
  • The bill includes measures to bring crypto assets and stablecoins into the scope of regulation.
  • The Treasury describes the bill as a boost for the UK economy, enabling the regulation of crypto assets to support their safe adoption.
  • Amendments were made to include crypto as a regulated financial activity and to supervise crypto promotions and advertising.
  • The legislation could attract more crypto companies to the UK from the United States.

The sentiment of the article is generally positive, highlighting the progress made in regulating crypto assets in the UK and the potential benefits for the economy.

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You May Ask

What is the purpose of the Financial Services and Markets Bill?How will the bill impact the regulation of crypto assets in the UK?What amendments were made to the bill regarding crypto activities?How does the UK's approach to crypto regulation differ from that of the United States?What are the potential benefits of the bill for the UK economy?

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