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Bitcoin (Yonhap News) |
[Alpha Biz= Paul Lee] Starting October 2026, the United Kingdom will subject cryptocurrencies to regulations similar to those governing traditional financial products, according to reports by The Guardian on December 16 (local time).
The UK Treasury has introduced a new bill requiring cryptocurrency companies to comply with various standards and be supervised by the Financial Conduct Authority (FCA). Under the proposed legislation, cryptocurrency exchanges and digital wallet providers offering services within the scope of anti-money laundering regulations must register with the FCA and operate under its oversight.
The Treasury stated that the new regulations aim to enhance transparency, increase consumer trust in the cryptocurrency sector, and facilitate the detection of suspicious activities.
Unlike the European Union, which established cryptocurrency-specific regulations last year, the UK’s approach is more aligned with the United States. The Bank of England (BOE) and the FCA are also developing their own cryptocurrency-related regulations, expected to be finalized by the end of next year. The FCA is setting rules on trading, market abuse, custody, and issuance, while the BOE has recently proposed regulations for stablecoins.
알파경제 Paul Lee 특파원(hoondork1977@alphabiz.co.kr)
