According to The Guardian, the UK Treasury is drafting new regulations that plan to include cryptocurrencies and related services into the financial regulatory framework starting in 2027, with oversight by the Financial Conduct Authority (FCA). Under the proposed rules, crypto exchanges, digital wallets, and other crypto service providers will be treated the same as other financial institutions and will need to comply with transparency and regulatory requirements.
In addition, the government is also developing plans to prohibit the use of cryptocurrencies for political donations, due to difficulties in verifying their source and ownership.
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According to The Guardian, the UK Treasury is drafting new regulations that plan to include cryptocurrencies and related services into the financial regulatory framework starting in 2027, with oversight by the Financial Conduct Authority (FCA). Under the proposed rules, crypto exchanges, digital wallets, and other crypto service providers will be treated the same as other financial institutions and will need to comply with transparency and regulatory requirements.
In addition, the government is also developing plans to prohibit the use of cryptocurrencies for political donations, due to difficulties in verifying their source and ownership.