UK Passes Bill Recognizing Crypto as Regulated Financial Activity: A Major Milestone
The UK has officially passed a bill that recognizes crypto as a regulated financial activity within the country and represents a vital development. The United Kingdom’s House of Lords passed the Financial Services and Markets Bill today, marking a major step in the country’s effort to regulate crypto-assets and unlock its potential.
Financial Services and Markets Bill 2025: What You Need to Know
The Financial Services and Markets Bill 2025 was approved by the upper chamber of the UK parliament on June 19. The bill includes measures to bring crypto assets under regulatory oversight, signaling a significant shift in the UK's approach to digital currencies.
Key Provisions of the New Crypto Legislation
The UK's new legislation provides for the regulation of cryptoassets, and establishes sandboxes to trial blockchain technology. The government aims to unlock the innovative potential of crypto while mitigating risks to consumers and the financial system.
UK's Crypto Regulation: Draft Legislation Unveiled
At a major summit in London to mark UK Fintech Week, the Chancellor revealed that the UK has published draft legislation for regulating cryptoassets – better defining the regulatory landscape for digital assets.
Impact of Crypto Regulation in the UK
Specifically, the bill establishes a clear framework for crypto trading, custody, and lending, requiring firms operating in the space to adhere to stringent standards. This move positions the UK as a forward-thinking hub for responsible crypto innovation and investment.