U.K. parliamentarians have voted through a new bill that could recognize crypto as a regulated activity in the country.
The approval of the Financial Services and Markets Bill (FSMB) on Monday by Parliamentâs upper chamber, the House of Lords, means the bill is going to enter the final stages before it is put into law.
The wide-ranging bill, spanning over 340 pages, was introduced in July to take advantage of Brexit freedoms and give regulators more power over the U.K. financial system. While the original bill included a proposal to regulate stablecoins under the countryâs payments rules, amendments to treat all crypto as a regulated activity and measures to supervise crypto promotions were added later as the bill progressed through Parliament.
