BlockBeats reported on November 14 that Bloomberg reported that the British government will announce its plan to regulate the cryptocurrency industry this month, seeking to respond to the attractiveness of the cryptocurrency industry in the United States led by Donald Trump and strive to reassure companies about their prospects in the UK.
Britain’s Treasury plans to introduce two pieces of legislation on stablecoins and an exemption requested by cryptocurrency providers that would exclude so-called staking services from current financial regulation, people familiar with the matter said.
The U.K.’s decision to move forward with cryptocurrency regulation comes as the cryptocurrency industry celebrated Trump’s election victory, driving up prices for assets including Bitcoin. The risk for the U.K. is that startups may choose other jurisdictions, such as the U.S., where rules are clearer or more favorable.
