UK's Bold Move: Crypto Under Finance Laws by 2027

The UK is taking a big step to include cryptocurrencies under its finance laws. This change is expected to happen by late 2027. The Financial Conduct Authority (FCA) will oversee crypto companies, ensuring they follow the same rules as traditional finance. The UK government is introducing new legislation to make this happen. Rachel Reeves, the head of the Treasury, believes this will help the UK stay ahead in the digital finance world. She thinks it will attract investments, create jobs, and protect consumers.In April, the Treasury proposed draft laws for crypto exchanges and dealers. These laws have seen only minor changes. The goal is to treat crypto like stocks, offering the same protections. The UK and the US are working together on crypto regulations. They formed a task force to explore collaboration. The UK plans to be a leader in crypto adoption, with rules that are fair and good for growth. Last month, the FCA released a roadmap for crypto rules. They plan to consult on stablecoins, trading platforms, and decentralized finance. The Bank of England also revealed plans for regulating stablecoins, but some lawmakers think these plans are too strict.