With new research suggesting that 12% of UK adults now own cryptoassets, and awareness continuing to increase, it’s time for clear regulation that supports a safe, competitive, and sustainable crypto industry.Read more :b3i.tech

Today’s announcement sends a strong signal that the UK is open for business but closed to fraud, abuse, and instability. It will bring a wider range of crypto firms into the financial services regulatory perimeter – cracking down on bad actors while supporting innovation – and set clear standards for consumer protection, operational resilience and transparency.

Understanding UK Crypto Regulations: What Investors Need to Know

This will include introducing requirements for those who issue, trade and facilitate transfers of ‘qualifying cryptoassets’ to ensure they have effective anti-money laundering (AML) and countering the financing of terrorism (CFT) policies in place, and comply with strict UK advertising and promotion standards. The consultation will also consider whether to extend the scope of MLR to cover the transfer of cryptoassets where they meet certain definitional criteria, such as those linked to investments or securities.

It will also consider extending the law of property to recognise crypto-tokens and other digital assets as personal property in England and Wales. This will mean they can be held and transferred as part of a person’s estate for inheritance purposes, used as security for loans and be claimed back by creditors in the event of insolvency. It will also help make sure that the law reflects the way people use cryptoassets, including the use of multiple digital platforms.

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