UK Unveils Draft Law to Regulate Cryptocurrencies: Balancing Innovation and Consumer Protection

The UK government has taken a significant step in regulating the cryptocurrency industry by releasing draft legislation for its proposed framework. This move aims to strike a balance between fostering innovation and safeguarding consumers. The UK’s approach is inspired by US regulations, aiming to enhance investor confidence and align legislative philosophies with global trends. Discussions have been held with US Treasury Secretary Scott Bessent, underscoring the collaborative effort to oversee digital asset regulation.