The UK’s Treasury and Chancellor of the Exchequer, Rachel Reeves, have proposed new crypto guidelines aimed toward “assist[ing] innovation whereas cracking down on fraudsters.”
In an April 29 discover, the UK authorities introduced draft guidelines for cryptocurrencies, together with Bitcoin (BTC) and Ether (ETH), that will carry “crypto exchanges, sellers and brokers” in step with rules, as many residents have been “uncovered to dangerous companies and scams.” It cited discussions with US authorities officers, together with a proposed US-UK cross-border sandbox from the Securities and Change Fee’s Hester Peirce.
“As we speak’s announcement sends a transparent sign: Britain is open for enterprise — however closed to fraud, abuse, and instability,” mentioned the discover. “The federal government will carry ahead closing cryptoasset laws on the earliest alternative, following engagement on the draft provisions with trade.”
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