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UK Passes Bill Recognizing Cryptocurrency as Regulated Financial Activity

June 29 (Cointime) - The UK has passed a bill recognizing cryptocurrency as a regulated financial activity, marking a significant shift in the country's approach to digital currencies.

The bill, known as the Financial Services & Markets Act 2023, aims to provide a clear regulatory framework that supports the safe adoption of crypto assets in the UK post-Brexit.

The approval of the bill empowers key regulatory bodies to introduce and enforce rules to regulate the crypto sector, and puts the UK at the helm of its financial services rulebook. The move is in line with the Conservative Government's objective to transform the UK into a global crypto hub.

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