The UK plans to produce new crypto regulations, hoping to grow the domestic web3 industry while protecting consumers. It will develop new communication policies with US counterparts, including Scott Bescent.
However, the community retaliated with doubt, as the treasury emphasized the continued willingness to break the evil actors. Regardless of what lessons Britain is taking from the US, it is not interested in Laissez-Faire regulation.
Crypto regulations change in the UK
Friendlier's crypto regulations sweep the world, along with the leading new US changes. The SEC's new Crypto Task Force is conducting direct dialogue with business leaders, and a comprehensive Stablecoin framework is a top priority.
In this environment, the UK's own plan to change crypto regulation brings uniformity and differences:
“Through our plan for change, we make Britain the best place in the world to change – and the safest place for consumers. Stable policies around crypto will boost the investor's confidence, support FinTech growth and protect people throughout the UK,” Rachel Reeves, Exchequer's Chancellor, Chancellor, claimed.
Treasury expresses a lot documents Suggesting some of the changes that may occur in the UK crypto regulation. These changes are greatly influenced by US cooperation; Reeves personally met with Treasury Secretary Scott Bessent.
They discussed several topics, including a cross-border regulation sandbox, supported by the industry.
He also announced an upcoming UK – US Financial Regulatory Working Group to further coordinate policy purposes. However, Treasury's messaging on UK crypto regulation has decided to focus on fighting the evil actors.
US regulators, on the other hand, have repeatedly expressed the desire to end crypto crackdowns in every possible area.
In other words, the British treasury seems to support pro-industry development without laissez-faire behavior, which motivates community doubt.
Previously, UK crypto regulations were accused of overreach, which motivated some companies to leave the country. This reputation can prevent severe web3 growth.
“It's sad because this is true. The UK can barely operate the basics, but they want to rule over the digital season? It's not desirable!” claimed The professor of crypto in response to disgusting social media statements about British crypto reform.
However, it may be too early to count Britain. The government will publish an action plan to update crypto regulation in the UK in July, giving it a lot of time to set a policy.
Many can change at that time, especially if it is in contact with US counterparts. So far, soon to predict the outcome.
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