The UK finance ministry has stated that it will begin regulating cryptocurrency starting from October 2027, according to a report published Monday.
Crypto To Get Regularity Clarity In UK?
The forthcoming law, slated to be presented in parliament later on Monday, is expected to extend existing financial regulations to companies involved in cryptocurrency, Reuters reported.
The draft bill to enact the regulation has undergone only minor changes since its initial publication earlier this year, the report said, citing a ministry spokesperson.
Rachel Reeves, Chancellor of the Exchequer, said that the regulations would establish “clear rules of the road,” increase consumer rights, and keep “dodgy actors” out of the market.
UK Catching Up With US?
This development comes on the heels of the UK formally recognizing digital assets as a third category of property earlier in the month.
The Property (Digital Assets, etc.) Act 2025 received Royal Assent from King Charles III, thereby establishing digital assets such as Bitcoin (CRYPTO: BTC) and stablecoins as a legally protected property. This reform created a distinct category alongside traditional physical and intangible property rights.
Last month, Bank of England Deputy Governor Sarah Breeden stated that the UK plans to catch up with the U.S. in developing rules for digital money and expects the framework to be online soon.
The Federal government has increasingly taken a pro-cryptocurrency position since President Donald Trump took office, intending to make the U.S. the world's "cryptocurrency capital."
However, while important pieces of legislation have gained momentum, questions about potential conflicts of interest due to Trump’s family involvement have heightened scrutiny.
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