On April 29, British Minister of Finance Rachel Reeves unveiled plans for a “full regulatory regime” aimed at making the country a world leader in digital assets.
Under the proposed rules, crypto exchanges, dealers and agents will be regulated in a similar way to traditional financial companies, with requirements of transparency, consumer protection and operational resilience, the British Treasury declared in a statement published following the remarks of Reeves.
According to the declaration, the order of 2000 on financial services and markets (cryptoasets) 2025 introduces six new regulated activities, including crypto trade, custody and stake.
Rather than opting for a light regime similar to the EU markets in crypto-sets (Mica), the United Kingdom applies the total weight of the securities regulations in Crypto, according to the British law firm Wiggin. This includes capital requirements, governance standards, market abuse rules and disclosure obligations.
“The UK cryptographic regulation project is a significant step towards adopting a rules based on rules based on rules,” said Dante Départe, strategy director and world policy in Circle, in Cointelegraph.
“By reporting a desire to provide regulatory clarity, the United Kingdom is positioning itself as a security port for responsible innovation.”
Départe added that the proposed framework can provide the predictability necessary to “set up the digital financial infrastructure responsible in the United Kingdom”.
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The new Crypto rules of the United Kingdom are “positive”
Vugar Usi Zade, Bitget Exchange’s chief (COO) (COO), has also expressed his optimism concerning new regulations, saying that it is “net” for industry.
“I think that many companies have recently left or hesitated to enter the United Kingdom because they were not clear on the activities, products and operations that need the authorization of the FCA. The companies finally obtain clear definitions of “qualified cryptographic assets” and know exactly what activities – frame, guard, stimulation or loan – do not have the authorization of the FCA. “
For exchanges, including Bitget, the United Kingdom rules project means that they need complete approval of the Authority Conduct (FCA) to provide trading, guard, stake or loan services to British users.
The rules also give companies two years to adjust their systems, such as capital and reports. “The mapping of each service line to the new perimeter adds general compliance costs, but this clarity allows us to plan product rolls and invest in local infrastructure,” said Zade.
The new regulatory project reclaim the stables in securities, not as electronic money. This means that the FIAT tokens issued by the United Kingdom must respect the prospectus style disclosure and repurchase protocols. Stablescoins non -UK can still circulate, but only via authorized sites.
Zade said that the exclusion of stablescoins of the 2011 Electronic Money Regulations (EMR), which prevents them from the sandbox in e-myy, could slow down their use for payment.
However, Départe, whose company is the transmitter of the USDC (USDC), the second largest stablecoin in the world by market capitalization, said that predictability is essential to promote responsible growth in the United Kingdom.
“What matters most is predictability: a framework that allows companies to build, test and develop in a responsible manner – without fear of the arbitrary application or to move goal posts. If done, it could mark a pivotal moment in the journey of digital assets of the United Kingdom. ”
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The United Kingdom requires FCA approval for foreign cryptographic companies
Among the biggest changes as part of the new rules of rules, there is the territorial scope. Non-British platforms at the service of retail customers in the United Kingdom will need the authorization of the FCA. The exemption from “people abroad” is limited to certain B2B relationships, which actually sounds the British detail market.
The crypto milestone also enters the perimeter. The liquid and delegates puncture services must now register, while solo employment and suppliers purely based on the interface are exempt. The new guard rules extend to any configuration which gives part of the unilateral transfer rights, including certain loan agreements and MPC (Multiparty Computation).
“Certain deviations still need to move away, but management is towards an effective and personalized compliance rather than a general restriction,” said Zade de Bitget.
He added that the vast definition of “development” could sweep in non-Garden DEFI models without a central supplier. “The restrictions on the purchase of proposed credit cards – although aimed at high -risk use – can alleviate retail participation in token launches,” he said.
In addition, Zade said that the rules for the segregation of bank grade for customer assets could hang Lean Defi projects. “The settings of final rules will have to alleviate these side effects.”
The FCA plans to publish final rules on Crypto in 2026, establishing the basics of the British regulatory regime. The roadmap towards greater regulatory clarity in the United Kingdom could follow the European Union, which began to implement its Function in December.
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