The Labour government is reportedly readying crypto, stablecoin and crypto asset regulations as Europe pulls ahead and the US changes its crypto policies.
A draft regulatory framework for crypto assets will be ready in the United Kingdom early next year, a Treasury official promised at City & Financial Global’s Tokenisation Summit in London on Nov. 21.
Some regulations were expected last summer, but a general election overturned those plans along with the Conservative government of Prime Minister Rishi Sunak. Now, Keir Starmer’s Labour government, which took office on July 5, 2024, will present the regulations.
Economic Secretary to the Treasury Tulip Siddiq said the regulations would cover stablecoins and staking services, as well as cryptocurrency itself, Bloomberg reports. Siddiq said:
