The UK has released a draft regulation for the encryption industry, proposing to strengthen cooperation with the United States.

WuSaidBlockchainW · 2025-04-29T16:22:01+00:00

UK Chancellor of the Exchequer Rachel Reeves plans to establish a comprehensive regulatory framework covering encryption assets, requiring encryption companies to meet the same standards as TradFi, including transparency, consumer protection, and resilience. The new rules will regulate encryption exchanges, brokers, and agents, emphasizing regulatory cooperation with the US in the digital asset space, promoting "responsible" applications, and highlighting the importance of international cooperation for the UK's development in this area.

WuSaidBlockchainW

2025-04-29 16:22:01

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According to CNBC, UK Chancellor of the Exchequer Rachel Reeves announced on April 29, 2025, plans to establish a comprehensive regulatory framework covering encryption assets and released a related draft, intending to bring encryption exchanges, brokers, and agencies under regulatory oversight. The new regulations require encryption businesses targeting UK users to meet the same standards of transparency, consumer protection, and operational resilience as Financial Institutions. Reeves also emphasized strengthening regulatory cooperation with the US in the digital asset space to promote “responsible” applications and noted that international collaboration is crucial for the UK’s development in this area.

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