UK crypto bill reaches final stage, on track for passage

The Financial Services and Markets Bill, which has been discussed in the British Parliament since July 2022, is now awaiting royal assent from King Charles in order to become law. Once approved, this legislation will bring cryptocurrencies under the same regulatory framework as traditional assets in the United Kingdom.



The bill, which received approval from the upper chamber of the U.K. parliament on June 19, aims to provide legal clarity and support the adoption of cryptocurrencies in the country. It grants the Treasury, Financial Conduct Authority (FCA), Bank of England, and Payments Systems Regulator the authority to establish and enforce regulations for crypto businesses.



This development is seen as a significant milestone for the local crypto community, as it paves the way for increased participation and growth. Andrew


First found on: https://coinatory.com/2023/06/29/uk-crypto-bill-reaches-final-stage/?utm_source=BG&utm_medium=Blogger+Some+Crypto+Blog&utm_campaign=SNAP