• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
Crypto

New UK Legislation To Govern Crypto Staking, Trading, By Mid-2024: What You Need To Know

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The United Kingdom is poised to enact new legislation covering stablecoins and various crypto activities, including staking, trading, and custody. 

The forthcoming regulations, which are expected to be implemented by June or July 2024, mark a significant milestone as they bring digital assets, such as the operation of exchanges and the custody of customer funds, under regulatory oversight for the first time. 

This development follows the approval of the Financial Services and Markets Act in June 2023, which paved the way for cryptocurrencies to be treated as a regulated financial activity. 

Related Reading: Leaper Finance Exposed: Sleuth Uncovers Alleged Multi-Million Dollar Crypto Scam

Crypto Regulation Accelerates In The UK

UK Economic Secretary Bim Afolami reaffirmed the government’s commitment to fast-tracking cryptocurrency-related issues during the Innovate Finance Global Summit. Afolami emphasized that legislation is being developed quickly to finalize proposals for the new regulatory regime. 

The government aims to complete these efforts within the next six months, allowing a range of digital asset activities under the regulatory umbrella, including the operation of exchanges and custodial services. The Economic Secretary stated:

Once it goes live, a whole host of crypto asset activities, including operating an exchange, taking custody of customers’ assets, and other things, will come within the regulatory perimeter for the first time

Moreover, the UK Financial Conduct Authority (FCA) will soon launch a consultation on an authorization regime for digital asset companies. At the same time, the government plans to establish equivalence measures for overseas firms. 

The aim is to foster a regulated and supervised environment for the nascent industry, ensuring consumer protection and market integrity.

Balancing Innovation And Safeguards

As previously reported by Bitcoinist, the UK government has taken a phased approach to digital asset regulation, primarily focusing on legislation concerning fiat-backed stablecoins. 

This priority is followed by addressing other areas, including algorithmic stablecoins, lending, and trading, which will be brought under the purview of conventional financial regulation. 

Related Reading: Hong Kong’s Approval Of Spot Bitcoin And Ethereum ETFs Triggers Crypto Market Recovery

In marked contrast to the approach and increased enforcement activity of the US Securities and Exchange Commission in the North American country, the UK government recognizes the need for greater clarity. It intends to provide a regulatory framework that balances innovation and investor protection.

However, despite the government’s efforts to create a crypto-friendly environment, the UK industry has faced challenges. Digital asset firms, including exchanges, have voiced concerns over delays and inadequate feedback from the FCA. 

Recently introduced rules restricting digital asset advertising have also led to some high-profile firms scaling back or ceasing operations in the UK market. The FCA’s vigilance in tackling suspected illegal crypto promotions is evident, with over 450 warnings issued in three months in February 2024.

Nonetheless, the forthcoming legislation on stablecoins and crypto activities signifies the UK government’s commitment to fostering a regulated and supervised crypto industry. 

While the specifics of the new regulations are yet to be unveiled, it is clear that crypto assets will operate within a more defined regulatory framework. 

Crypto
The 1-D chart shows the total crypto market cap’s valuation at $2.3 trillion. Source: TOTAL on TradingView.com

Featured image from Shutterstock, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Crypto

Crypto Boom Soon? Major Banks Predict At Least 2 Rate Cuts After Weak Labor Data

16 hours ago
Trump Media

Trump Media Invest $105M In CRO Following Crypto.Com Treasury Agreement

18 hours ago
MARA Bitcoin holdings near $6b Bitcoin Hyper gains

MARA’s Bitcoin Treasury Nears $6B After Mining 705 $BTC in August, Fueling Bitcoin Hyper’s $14M Presale

20 hours ago
SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

20 hours ago
XRP

XRP In The Skies: Air China May Let Millions Pay With Crypto

22 hours ago
Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

21 hours ago

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    12 hours ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    12 hours ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    15 hours ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    1 day ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.