The Treasury has published a draft regulatory proposal for running crypto assets which chancellor Rachel Reeves claims will move the UK towards becoming the go-to place for this alternative sector.
Released yesterday (29 April) as the chancellor attended a summit in London to mark UK Fintech Week, the proposal targets crypto exchanges and dealers, while "agents" will be brought into the "regulatory perimeter, cracking down on bad actors while supporting legitimate innovation". The bill will grant major watchdogs the ability to make or approve rules and provide guidance and "directions" around the sale and purchasing of cryptocurrencies and stablecoins. In her speech at the summit, Reeves said "through our Plan for Change, we are making Britain the best place in the world to inn...
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