The U.K. government plans to draft and implement comprehensive regulation for the crypto industry by early 2025, addressing stablecoins and staking services. This initiative aims to clarify rules amidst the backdrop of the European Union's recently implemented Markets in Crypto Assets (MiCA) framework. Economic Secretary Tulip Siddiq emphasized the urgency of engaging with crypto firms on this regulatory drafting, which will build upon previous Conservative policies and enhance consumer protection in the crypto sector.
The U.K. plans to draft a regulatory framework for the crypto industry by early next year, which will clarify rules for stablecoins and staking services.
Economic Secretary Tulip Siddiq highlighted at the Tokenisation Summit that engaging firms on legal provisions for crypto assets will be prioritized as early as next year.
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