As the UK prepares a comprehensive bill to regulate the cryptocurrency market, it has also announced plans to deepen cooperation with the United States in this area.
Finance Minister Rachel Reeves unveiled a new framework aimed at increasing transparency and consumer protection for crypto exchanges and service providers operating in the country. Under the proposed regulations, crypto firms will be required to meet the same standards of oversight and operational resilience as traditional financial institutions. The UK Treasury stated that the initiative aims to eliminate bad actors while supporting legitimate innovation.
Speaking at the Innovate Finance summit in London, Reeves emphasized that the UK will work more closely with the U.S. on crypto regulations to ensure responsible adoption of digital assets.
The UK aims to become a global hub for crypto innovation by adopting a regulatory approach that supports rather than restricts businesses. Additionally, the UK is seeking to strengthen ties with the European Union and build investor confidence with a legal framework aligned with international standards.
