UK government targets crypto in latest legislative agenda
2022.05.10 20:06
UK government targets crypto in latest legislative agenda
The United Kingdom has introduced two bills, both concerning the seizure of and support for cryptocurrencies as part of Prince Charles’ remarks at the State Opening of Parliament.
In a Tuesday publication released by the U.K. Prime Minister’s Office, the government said it will address crypto regulation in the country with the introduction of the Financial Services and Markets Bill and theEconomic Crime and Corporate Transparency Bill. The former aims to strengthen the country’s financial services industry, including by supporting “the safe adoption of cryptocurrencies.” According to the proposed financial services law, the measure will “[cut] red tape in the financial sector” in an effort to attract investors to the United Kingdom.
