Will the UK become a preferred destination for crypto?

Register Now The government says it wants to make the U.K. a preferred destination for the industry. The U.K. government published its final rules for the crypto ecosystem, saying it plans a phased introduction of regulation, with legislation for fiat-backed stablecoins being introduced early next year.

Will the government regulate the crypto industry?

The government published its response to a consultation paper issued earlier this year, which outlined recommendations on regulating the crypto industry. In the Monday paper, the government said it intends to bring a number of cryptoasset activities under the same regulations that govern banks and other financial services firms.

Will crypto be a traditional financial service regulation?

The government has already set out that it wants to bring crypto within the fold of traditional financial service regulation – but Griffith has now modified some of his proposals clarifying the treatment of cryptoassets it already considers traditional financial instruments as well as non-fungible tokens (NFTs).