#uk Crypto Regulation :
UK Parliament Approves Crypto Regulation Bill :
The UK Parliament has approved a bill that would regulate stablecoins and all cryptocurrencies. The bill, which was passed by the House of Lords on June 19, 2023, is part of the government's efforts to position the UK as a "global hub for #cryptoassets technology."
The bill would require all cryptoasset firms to be registered with the Financial Conduct Authority (FCA). It would also give the FCA the power to regulate the promotion of cryptocurrencies.
The bill is still subject to Royal Assent, which is the final step in the legislative process. However, it is expected to be signed into law by the Queen in the coming weeks.
The approval of the bill is a major milestone for the crypto industry in the UK. It provides much-needed clarity and certainty for businesses operating in the space. It also sends a signal to the rest of the world that the UK is committed to regulating #cryptocurrencies. in a responsible way.