Following the US, the United Kingdom Is Now Taking Crypto-Friendly Steps – “We Want to Be a World Leader in Cryptocurrencies”

The UK has submitted to the public a draft law that includes comprehensive regulations for the cryptocurrency sector. Finance Minister Rachel Reeves said at a fintech event in London that they are planning a “comprehensive regulatory regime” for digital assets. Reeves said that this step aims to make the UK a “world leader” in digital assets. The new regulations will include crypto exchanges, brokers and representatives under scrutiny. The UK Treasury said that this step will “disrupt malicious actors and support legitimate innovation.” It was also announced that crypto companies with customers in the UK will be subject to similar standards as traditional financial institutions in terms of transparency, consumer protection and operational resilience. Related News: BREAKING: Important News for Floki Inu (FLOKI) – Robotics Company Makes Announcement, Price Reacts Reeves said the UK aims to deepen regulatory cooperation with the US to encourage the “responsible” adoption of digital assets. “International cooperation is vital for the UK to become a world leader in digital assets,” he said. Industry representatives claim that the UK’s financial regulator, the Financial Conduct Authority (FCA), has been overly restrictive in approving crypto companies’ registration applications. The FCA is responsible for registering firms that want to offer crypto services as part of the fight against money laundering. *This is not investment advice. Continue Reading: Following the US, the United Kingdom Is Now Taking Crypto-Friendly Steps – “We Want to Be a World Leader in Cryptocurrencies”

Source: BitcoinSistemi