The UK releases draft crypto asset regulation, including cryptocurrency exchanges and other regulatory systems

PANews reported on April 29 that according to the policy notes and draft documents released by the British Ministry of Finance today, the new regulations plan to include activities such as cryptocurrency trading platform operation, stablecoin issuance, custody services, pledge, market making and matchmaking transactions in the regulatory scope of the Financial Services and Markets Act 2000, requiring crypto companies for UK retail customers to be approved in the UK. The new regulations clearly define "qualified crypto assets" and "qualified stablecoins", and make supporting modifications to transparency, anti-money laundering, financial promotion, etc. Stablecoins will not be included in payment regulations for the time being. The Ministry of Finance expects to complete legislation in 2025.