LATEST: U.K. Takes Steps Towards Crypto Regulation, Aligns with EU Framework

Britain announced plans to implement its inaugural set of regulations for the crypto sector, necessitating market players to secure authorization before offering services to consumers. Drawing insights from the FTX exchange debacle, these guidelines will concentrate on cryptoassets like bitcoin and the foundational blockchain technology. The new regulations, which will fall under market law, aim to integrate crypto operations within the UK’s existing financial framework. The move aligns with the EU’s regulatory stance on crypto, emphasizing both innovation and financial stability. Additionally, the UK intends to regulate stablecoins and devise measures for potential stablecoin failures by 2024.

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