UK moving forward with new cryptocurrency regulations

This is the culmination of years of efforts by the UK government to create new rules to regulate cryptocurrency businesses within its borders. As such, it represents somewhat of a departure for the UK from its usual approach to crypto asset regulation. Historically, UK financial regulators have had no power to regulate – and thus have refrained from regulating – crypto-assets like bitcoin, ethereum, cardano, or cosmos in their capacity as investments, at least in the same way that they regulated tradfi instruments like securities Is. This is in stark contrast to the regulatory landscape in the United States, where, infamously, the SEC uses a 90-year-old securities law to claim more or less absolute authority over the cryptocurrency sector, and in respect of which it litigated a regulation Used to be. Enforcement operations in federal courts.