UK lawmakers vote to recognise crypto as a regulated financial instrument

2022/10/29 13:49

The UK House of Commons of Parliament voted in favour of including cryptocurrencies within the scope of activities to be regulated through the proposed Financial Services and Markets Bill, which already seeks to extend payment rules to stablecoins. UK lawmakers voted in favour of recognising crypto assets as regulated financial instruments and products in the country. The House of Commons of Parliament met on Tuesday for a line-by-line reading of the proposed Financial Services and Markets Bill, which broadly covers the UK's post-Brexit economic strategy. Lawmakers considered a list of proposed amendments to the bill, including one proposed by MP Andrew Griffith to include crypto-assets within the scope of regulated financial services in the country. The draft bill already includes measures to extend existing regulations to payments-focused stablecoins, which are cryptocurrencies pegged to the value of other assets such as the US dollar or gold.

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