UK gov't proposes crypto rules in response to scams
Summary
The UK Treasury and Chancellor Rachel Reeves have proposed new crypto regulations to support innovation while addressing fraud. Draft rules aim to align crypto exchanges, dealers, and agents with regulations due to residents' exposure to risky firms and scams. Discussions with US officials include a proposed US-UK cross-border sandbox. The government emphasizes openness to business but a firm stance against fraud and instability. Final cryptoasset legislation will be introduced after industry engagement on the draft provisions.
