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<\/noscript>\n <\/div>\n\nThe UK will introduce unified crypto regulations, including stablecoins, in early 2025.<\/li>\n New rules aim to simplify oversight and avoid restrictive staking classifications.<\/li>\n Labour government aims to compete with EU\u2019s MiCA rules and US pro-crypto policies.<\/li>\n<\/ul>\nThe United Kingdom is set to introduce a comprehensive regulatory framework for cryptocurrencies, stablecoins, and crypto staking services in early 2025, marking a pivotal shift in its approach to digital assets.<\/p>\n
The announcement was made by the Economic Secretary to the Treasury Tulip Siddiq at City & Financial Global\u2019s Tokenisation Summit in London on November 21.<\/p>\n
Initially slated for December 2024, the regulatory rollout was delayed due to the change in government following the election of Prime Minister Keir Starmer\u2019s Labour administration in July 2024.<\/p>\n
The upcoming UK crypto regulatory framework<\/h2>\n The upcoming framework consolidates regulations for crypto assets into a single, overarching regime, a decision Siddiq described as \u201csimpler and more logical.\u201d<\/p>\n
The framework aims to provide clarity in a rapidly growing sector that has faced uncertainty in the UK.<\/p>\n
Stablecoins will receive distinct treatment under these regulations, as their functionality does not align with existing payment services rules.<\/p>\n
Siddiq highlighted that staking services would also avoid being designated as \u201ccollective investment schemes,\u201d a classification that could impose burdensome restrictions.<\/p>\n
UK aims to align with the global crypto regulatory landscape<\/h2>\n The UK government\u2019s renewed focus on digital asset regulation comes as it seeks to align with global developments. The European Union\u2019s Markets in Crypto-Assets (MiCA) regulations will be fully enforced by the end of 2024, offering regulatory certainty that has positioned Europe as an attractive market for the crypto industry.<\/p>\n
Meanwhile, the US, under President Donald Trump\u2019s administration, has adopted a markedly pro-crypto stance, including the establishment of a White House \u201ccrypto czar\u201d and SEC Chair Gary Gensler\u2019s planned departure in January 2024.<\/p>\n
The Labour government has shown its intent to catch up with international competition. In September 2024, it introduced a bill recognizing NFTs, cryptocurrencies, and carbon credits as property.<\/p>\n
The new regulatory push reflects the UK\u2019s ambition to regain credibility as a crypto hub while addressing criticisms of the Financial Conduct Authority\u2019s perceived stringent oversight.<\/p>\n
By delivering a robust, streamlined framework, the Labour government aims to bolster the UK\u2019s standing in the multibillion-dollar crypto industry.<\/p>\n
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UK to unveil crypto and stablecoin regulatory framework early next year - Leading Crypto News<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n