Crypto ownership in the UK has risen sharply, with about 12% of adults having held crypto assets, up from just 4% in 2021, according to the government. However, many investors have faced significant risks due to unregulated firms and fraudulent activity.
To address this, the UK government is set to implement new legislation aimed at bringing crypto assets under formal regulation and enhancing consumer protections. The rules will cover companies providing services related to digital assets such as Bitcoin and Ethereum.
The updated framework will require crypto exchanges, brokers, and intermediaries to operate within the UK’s regulatory scope. Companies serving UK customers will need to adhere to strict standards for transparency, consumer safety, and operational stability, aligning them more closely with traditional financial institutions.
Chancellor Rachel Reeves also noted that the UK and US will continue collaborating on digital asset policy through the upcoming UK–US Financial Regulatory Working Group, promoting safe and sustainable development in the sector.
Info obtained here
